Eagle Materials (NYSE:EXP) Hits New 1-Year Low Following Analyst Downgrade

Eagle Materials Inc. (NYSE:EXP - Get Free Report) shares reached a new 52-week low on Thursday after Citigroup lowered their price target on the stock from $279.00 to $230.00. Citigroup currently has a neutral rating on the stock. Eagle Materials traded as low as $200.78 and last traded at $203.13, with a volume of 246970 shares. The stock had previously closed at $203.29.

Several other analysts have also weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Eagle Materials from $310.00 to $250.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Loop Capital dropped their price target on Eagle Materials from $245.00 to $237.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. Wall Street Zen downgraded shares of Eagle Materials from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Stephens set a $255.00 target price on shares of Eagle Materials and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Finally, Stifel Nicolaus set a $241.00 price target on shares of Eagle Materials and gave the stock a "hold" rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $254.44.

Institutional Investors Weigh In On Eagle Materials

A number of hedge funds have recently added to or reduced their stakes in the stock. SVB Wealth LLC bought a new stake in Eagle Materials in the 1st quarter valued at about $41,000. Private Trust Co. NA increased its stake in shares of Eagle Materials by 53.0% in the fourth quarter. Private Trust Co. NA now owns 205 shares of the construction company's stock valued at $51,000 after purchasing an additional 71 shares during the period. Parallel Advisors LLC raised its holdings in shares of Eagle Materials by 26.8% during the first quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock valued at $55,000 after buying an additional 52 shares during the last quarter. Huntington National Bank boosted its position in shares of Eagle Materials by 154.8% during the fourth quarter. Huntington National Bank now owns 237 shares of the construction company's stock worth $58,000 after buying an additional 144 shares during the period. Finally, Assetmark Inc. boosted its position in shares of Eagle Materials by 486.6% during the first quarter. Assetmark Inc. now owns 393 shares of the construction company's stock worth $87,000 after buying an additional 326 shares during the period. 96.07% of the stock is currently owned by institutional investors.

Eagle Materials Price Performance

The business has a fifty day moving average of $222.40 and a 200-day moving average of $242.98. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76. The firm has a market capitalization of $6.47 billion, a P/E ratio of 14.13 and a beta of 1.36.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The construction company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.26). Eagle Materials had a return on equity of 34.14% and a net margin of 20.91%. The business had revenue of $470.18 million during the quarter, compared to the consensus estimate of $483.14 million. During the same period in the previous year, the company posted $2.24 EPS. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. On average, sell-side analysts forecast that Eagle Materials Inc. will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, June 16th. This represents a $1.00 annualized dividend and a yield of 0.51%. Eagle Materials's payout ratio is 7.27%.

About Eagle Materials

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.