Eagle Materials Inc (EXP) Expected to Announce Quarterly Sales of $415.20 Million
Analysts expect Eagle Materials Inc (NYSE:EXP) to post sales of $415.20 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Eagle Materials’ earnings, with the highest sales estimate coming in at $416.70 million and the lowest estimate coming in at $413.70 million. Eagle Materials posted sales of $332.66 million during the same quarter last year, which suggests a positive year over year growth rate of 24.8%. The company is expected to announce its next earnings results before the market opens on Wednesday, October 25th.
On average, analysts expect that Eagle Materials will report full-year sales of $415.20 million for the current year, with estimates ranging from $1.48 billion to $1.49 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.65 billion per share. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Eagle Materials.
Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Thursday, July 27th. The construction company reported $1.17 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.17. The business had revenue of $366.10 million for the quarter, compared to the consensus estimate of $369.68 million. Eagle Materials had a net margin of 16.23% and a return on equity of 18.29%. The company’s revenue was up 23.1% compared to the same quarter last year. During the same period last year, the firm posted $0.93 earnings per share.
A number of equities analysts have commented on the company. Zacks Investment Research lowered Eagle Materials from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Standpoint Research lowered Eagle Materials from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. They noted that the move was a valuation call. BidaskClub lowered Eagle Materials from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Citigroup Inc. raised Eagle Materials from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $115.00 to $110.00 in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Eagle Materials currently has a consensus rating of “Hold” and an average price target of $110.00.
Eagle Materials (EXP) opened at 110.00 on Monday. Eagle Materials has a 12-month low of $73.83 and a 12-month high of $110.85. The stock has a market capitalization of $5.33 billion, a P/E ratio of 25.58 and a beta of 1.17. The firm’s 50-day moving average is $105.25 and its 200 day moving average is $97.04.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 7th. Shareholders of record on Friday, October 6th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Thursday, October 5th. Eagle Materials’s dividend payout ratio is currently 9.30%.
In other Eagle Materials news, SVP William R. Devlin sold 16,469 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $96.51, for a total value of $1,589,423.19. Following the transaction, the senior vice president now owns 51,973 shares of the company’s stock, valued at $5,015,914.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Dale Craig Kesler sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $101.40, for a total value of $507,000.00. Following the completion of the transaction, the chief financial officer now directly owns 61,778 shares in the company, valued at approximately $6,264,289.20. The disclosure for this sale can be found here. In the last three months, insiders sold 69,774 shares of company stock worth $6,798,741. Insiders own 4.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in EXP. UBS Asset Management Americas Inc. raised its position in shares of Eagle Materials by 5.4% during the first quarter. UBS Asset Management Americas Inc. now owns 69,613 shares of the construction company’s stock worth $6,762,000 after acquiring an additional 3,596 shares during the last quarter. Stifel Financial Corp raised its position in shares of Eagle Materials by 13.6% during the first quarter. Stifel Financial Corp now owns 7,398 shares of the construction company’s stock worth $712,000 after acquiring an additional 886 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Eagle Materials by 372.7% during the first quarter. Wellington Management Group LLP now owns 11,624 shares of the construction company’s stock worth $1,129,000 after acquiring an additional 9,165 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Eagle Materials by 5.9% during the first quarter. Teachers Advisors LLC now owns 303,326 shares of the construction company’s stock worth $29,465,000 after acquiring an additional 16,775 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Eagle Materials by 25.6% during the first quarter. PNC Financial Services Group Inc. now owns 7,428 shares of the construction company’s stock worth $722,000 after acquiring an additional 1,516 shares during the last quarter. Institutional investors own 91.02% of the company’s stock.
About Eagle Materials
Eagle Materials Inc is a supplier of construction products, building materials and materials used for oil and natural gas extraction. The Company operates through five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants. The Company’s construction products are used in residential, industrial, commercial and infrastructure construction, and include cement, slag, concrete and aggregates.
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