Q2 2018 EPS Estimates for Eagle Materials Inc Cut by DA Davidson (EXP)
Eagle Materials Inc (NYSE:EXP) – Equities researchers at DA Davidson lowered their Q2 2018 EPS estimates for Eagle Materials in a report issued on Monday. DA Davidson analyst B. Thielman now anticipates that the construction company will post earnings per share of $1.50 for the quarter, down from their prior estimate of $1.58. DA Davidson also issued estimates for Eagle Materials’ FY2018 earnings at $5.35 EPS.
EXP has been the subject of a number of other research reports. 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. upgraded Eagle Materials from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $115.00 to $110.00 in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Eagle Materials presently has a consensus rating of “Hold” and an average target price of $110.00.
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Eagle Materials (EXP) traded up 2.11% during mid-day trading on Tuesday, reaching $110.69. The company had a trading volume of 416,358 shares. The stock’s 50-day moving average price is $105.55 and its 200 day moving average price is $97.16. The firm has a market capitalization of $5.37 billion, a PE ratio of 25.74 and a beta of 1.17. Eagle Materials has a 52 week low of $78.71 and a 52 week high of $110.85.
Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Thursday, July 27th. The construction company reported $1.17 EPS for the quarter, meeting analysts’ consensus estimates of $1.17. The company had revenue of $366.10 million during the quarter, compared to analysts’ expectations of $369.68 million. Eagle Materials had a return on equity of 18.29% and a net margin of 16.23%. Eagle Materials’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 7th. Investors of record on Friday, October 6th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.37%. Eagle Materials’s dividend payout ratio is presently 9.30%.
In related news, CFO Dale Craig Kesler sold 5,000 shares of Eagle Materials stock in a transaction dated 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 owns 61,778 shares in the company, valued at approximately $6,264,289.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gerald J. Essl sold 2,000 shares of Eagle Materials stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $93.40, for a total value of $186,800.00. Following the completion of the transaction, the insider now owns 39,859 shares of the company’s stock, valued at approximately $3,722,830.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,774 shares of company stock valued at $6,798,741. 4.10% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. FMR LLC increased its stake in shares of Eagle Materials by 9.1% in the 2nd quarter. FMR LLC now owns 4,407,131 shares of the construction company’s stock valued at $407,307,000 after purchasing an additional 367,661 shares in the last quarter. BlackRock Inc. increased its stake in shares of Eagle Materials by 3.8% in the 2nd quarter. BlackRock Inc. now owns 4,101,930 shares of the construction company’s stock valued at $379,100,000 after purchasing an additional 150,577 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Eagle Materials by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,784,382 shares of the construction company’s stock valued at $349,753,000 after purchasing an additional 41,784 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Eagle Materials by 11.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,357,834 shares of the construction company’s stock valued at $217,913,000 after purchasing an additional 247,169 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Eagle Materials by 4.8% in the 2nd quarter. Wells Fargo & Company MN now owns 1,376,500 shares of the construction company’s stock valued at $127,216,000 after purchasing an additional 63,035 shares in the last quarter. Hedge funds and other institutional investors own 91.12% of the company’s stock.
Eagle Materials Company Profile
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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