Eagle Materials (NYSE:EXP) Reaches New 12-Month Low - What's Next?

Shares of Eagle Materials Inc. (NYSE:EXP - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $195.41 and last traded at $196.66, with a volume of 17017 shares. The stock had previously closed at $198.17.

Analysts Set New Price Targets

Several brokerages have issued reports on EXP. Stifel Nicolaus set a $241.00 price objective on Eagle Materials and gave the stock a "hold" rating in a report on Wednesday, May 21st. DA Davidson decreased their target price on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Truist Financial decreased their target price on shares of Eagle Materials from $330.00 to $280.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Stephens set a $255.00 target price on shares of Eagle Materials and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Finally, Citigroup decreased their target price on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $254.44.

Eagle Materials Stock Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 1.01. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 13.99 and a beta of 1.28. The stock's 50-day moving average is $217.97 and its 200 day moving average is $235.57.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The construction company reported $2.08 EPS for the quarter, missing analysts' consensus estimates of $2.34 by ($0.26). The firm had revenue of $470.18 million during the quarter, compared to analyst estimates of $483.14 million. Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. Eagle Materials's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.24 EPS. As a group, analysts predict that Eagle Materials Inc. will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Monday, June 16th will be given a $0.25 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.51%. Eagle Materials's payout ratio is currently 7.27%.

Institutional Investors Weigh In On Eagle Materials

A number of hedge funds have recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in shares of Eagle Materials during the 1st quarter valued at approximately $1,071,000. Focus Partners Wealth lifted its position in shares of Eagle Materials by 21.5% during the 1st quarter. Focus Partners Wealth now owns 2,019 shares of the construction company's stock valued at $448,000 after acquiring an additional 357 shares during the period. United Services Automobile Association acquired a new stake in shares of Eagle Materials during the 1st quarter valued at approximately $481,000. Arete Wealth Advisors LLC acquired a new stake in shares of Eagle Materials during the 1st quarter valued at approximately $492,000. Finally, First Dallas Securities Inc. lifted its position in shares of Eagle Materials by 1.7% during the 1st quarter. First Dallas Securities Inc. now owns 15,451 shares of the construction company's stock valued at $3,429,000 after acquiring an additional 251 shares during the period. Institutional investors and hedge funds own 96.07% of the company's stock.

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.