Equities research analysts predict that Eagle Materials Inc. (NYSE:EXP) will report sales of $509.27 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Eagle Materials' earnings, with the lowest sales estimate coming in at $500.00 million and the highest estimate coming in at $515.79 million. Eagle Materials reported sales of $447.68 million in the same quarter last year, which would suggest a positive year over year growth rate of 13.8%. The company is expected to issue its next quarterly earnings results on Thursday, November 4th.
According to Zacks, analysts expect that Eagle Materials will report full year sales of $1.80 billion for the current year, with estimates ranging from $1.71 billion to $1.85 billion. For the next financial year, analysts forecast that the firm will report sales of $1.97 billion, with estimates ranging from $1.93 billion to $2.03 billion. Zacks Investment Research's sales calculations are a mean average based on a survey of research analysts that cover Eagle Materials.
Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Wednesday, July 28th. The construction company reported $2.25 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $2.11 by $0.14. Eagle Materials had a net margin of 20.26% and a return on equity of 25.22%. The company had revenue of $475.77 million during the quarter, compared to the consensus estimate of $464.36 million.
A number of equities research analysts have recently issued reports on EXP shares. Berenberg Bank upgraded shares of Eagle Materials from a "hold" rating to a "buy" rating in a research report on Monday, August 30th. JPMorgan Chase & Co. lifted their price target on shares of Eagle Materials from $130.00 to $160.00 and gave the company an "overweight" rating in a research report on Wednesday, May 26th. Zacks Investment Research downgraded shares of Eagle Materials from a "buy" rating to a "hold" rating in a research report on Wednesday, July 14th. DA Davidson raised their price objective on shares of Eagle Materials from $120.00 to $150.00 and gave the stock a "neutral" rating in a research note on Thursday, May 20th. They noted that the move was a valuation call. Finally, Loop Capital raised their price objective on shares of Eagle Materials from $145.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, May 14th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $154.50.
EXP stock opened at $145.53 on Friday. The firm has a 50 day moving average of $145.67 and a 200-day moving average of $141.61. Eagle Materials has a 12-month low of $78.23 and a 12-month high of $160.18. The company has a current ratio of 3.87, a quick ratio of 2.72 and a debt-to-equity ratio of 0.73. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 18.06 and a beta of 1.23.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Friday, September 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.69%. Eagle Materials's dividend payout ratio is currently 14.58%.
In related news, EVP James H. Graass sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, August 24th. The shares were sold at an average price of $153.54, for a total value of $921,240.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven L. Wentzel sold 2,204 shares of the company's stock in a transaction that occurred on Monday, August 30th. The shares were sold at an average price of $160.00, for a total transaction of $352,640.00. Following the completion of the sale, the insider now owns 20,937 shares of the company's stock, valued at approximately $3,349,920. The disclosure for this sale can be found here. Insiders sold a total of 44,952 shares of company stock valued at $6,785,148 in the last three months. Insiders own 1.50% of the company's stock.
Several large investors have recently modified their holdings of EXP. First Trust Advisors LP lifted its position in shares of Eagle Materials by 8.6% in the 1st quarter. First Trust Advisors LP now owns 57,097 shares of the construction company's stock valued at $4,813,000 after acquiring an additional 4,501 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in Eagle Materials by 4,574.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 72,872 shares of the construction company's stock valued at $6,143,000 after buying an additional 71,313 shares during the period. CWM LLC increased its stake in Eagle Materials by 192.5% in the 1st quarter. CWM LLC now owns 234 shares of the construction company's stock valued at $31,000 after buying an additional 154 shares during the period. Exane Derivatives increased its stake in Eagle Materials by 19.1% in the 1st quarter. Exane Derivatives now owns 585 shares of the construction company's stock valued at $79,000 after buying an additional 94 shares during the period. Finally, Virginia Retirement Systems ET AL acquired a new position in Eagle Materials in the 1st quarter valued at approximately $1,909,000. Institutional investors and hedge funds own 94.65% of the company's stock.
About Eagle Materials
Eagle Materials, Inc is a holding company, which engages in the provision of heavy construction materials, light building materials, and materials used for oil and natural gas extraction. It operates through the following segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.
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