Eagle Materials Inc. (EXP) Trading Down 3.3%
Eagle Materials Inc. (NYSE:EXP) shares fell 3.3% during mid-day trading on Wednesday . The stock traded as low as $78.73 and last traded at $80.17, with a volume of 574,438 shares. The stock had previously closed at $82.94.
Several research firms recently issued reports on EXP. Zacks Investment Research raised shares of Eagle Materials from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Wednesday, June 29th. Standpoint Research cut shares of Eagle Materials from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. CL King cut shares of Eagle Materials from a “strong-buy” rating to a “neutral” rating in a report on Tuesday, July 26th. DA Davidson cut their price target on shares of Eagle Materials from $100.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, July 26th. Finally, Sterne Agee CRT reissued a “buy” rating on shares of Eagle Materials in a report on Monday, May 16th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $83.13.
The company’s 50 day moving average is $82.41 and its 200-day moving average is $74.75. The firm has a market cap of $3.90 billion and a price-to-earnings ratio of 25.07.
Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Monday, July 25th. The company reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.07. During the same period last year, the firm posted $0.75 earnings per share. The business earned $297 million during the quarter, compared to analyst estimates of $295.49 million. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts predict that Eagle Materials Inc. will post $4.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Wednesday, October 5th.
In other Eagle Materials news, Director Richard Ross Stewart sold 10,888 shares of the business’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $72.84, for a total transaction of $793,081.92. Following the completion of the transaction, the director now directly owns 5,874 shares of the company’s stock, valued at approximately $427,862.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert S. Stewart sold 12,098 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $85.08, for a total transaction of $1,029,297.84. Following the transaction, the executive vice president now directly owns 66,779 shares of the company’s stock, valued at $5,681,557.32. The disclosure for this sale can be found here.
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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