FY2019 EPS Estimates for Eagle Materials, Inc. (EXP) Raised by Northcoast Research
Eagle Materials, Inc. (NYSE:EXP) – Equities researchers at Northcoast Research raised their FY2019 earnings per share estimates for Eagle Materials in a research note issued on Wednesday. Northcoast Research analyst K. Hocevar now forecasts that the construction company will post earnings per share of $6.50 for the year, up from their previous estimate of $6.00.
Several other brokerages have also recently issued reports on EXP. Zacks Investment Research upgraded Eagle Materials from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Citigroup boosted their price target on Eagle Materials from $121.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Stifel Nicolaus dropped their price target on Eagle Materials from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Eagle Materials currently has an average rating of “Hold” and a consensus price target of $135.00.
Eagle Materials (NYSE:EXP) last issued its quarterly earnings results on Wednesday, January 31st. The construction company reported $1.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.20. The firm had revenue of $359.40 million for the quarter, compared to analysts’ expectations of $364.52 million. Eagle Materials had a return on equity of 18.66% and a net margin of 18.53%. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.17 EPS.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its position in Eagle Materials by 474.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,149 shares of the construction company’s stock worth $106,000 after purchasing an additional 949 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new position in Eagle Materials in the 3rd quarter worth approximately $201,000. Cigna Investments Inc. New acquired a new position in Eagle Materials in the 4th quarter worth approximately $205,000. HM Payson & Co. acquired a new position in Eagle Materials in the 3rd quarter worth approximately $225,000. Finally, Ingalls & Snyder LLC acquired a new position in Eagle Materials in the 4th quarter worth approximately $234,000. 91.58% of the stock is currently owned by institutional investors.
In other Eagle Materials news, CFO Dale Craig Kesler sold 5,000 shares of Eagle Materials stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $111.64, for a total value of $558,200.00. Following the sale, the chief financial officer now owns 56,778 shares of the company’s stock, valued at approximately $6,338,695.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gerald J. Essl sold 10,000 shares of Eagle Materials stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $113.77, for a total value of $1,137,700.00. Following the completion of the sale, the insider now directly owns 24,380 shares in the company, valued at approximately $2,773,712.60. The disclosure for this sale can be found here. Insiders sold a total of 61,623 shares of company stock worth $6,930,994 in the last ninety days. 4.10% of the stock is owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Thursday, April 12th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Wednesday, April 11th. Eagle Materials’s dividend payout ratio is presently 7.59%.
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About Eagle Materials
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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