CLSA Lowers James Hardie Industries (NYSE:JHX) to Underperform

CLSA cut shares of James Hardie Industries (NYSE:JHX) from an outperform rating to an underperform rating in a report issued on Tuesday morning, The Fly reports.

A number of other research analysts also recently issued reports on JHX. Zacks Investment Research upgraded James Hardie Industries from a hold rating to a buy rating and set a $45.00 price objective for the company in a research note on Wednesday, November 10th. Morgan Stanley downgraded James Hardie Industries from an overweight rating to an equal weight rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $45.00.

James Hardie Industries stock opened at $36.70 on Tuesday. The business has a 50-day simple moving average of $39.73 and a two-hundred day simple moving average of $37.92. The company has a market cap of $16.34 billion, a P/E ratio of 37.45 and a beta of 1.27. James Hardie Industries has a 52-week low of $27.75 and a 52-week high of $41.85. The company has a quick ratio of 1.06, a current ratio of 1.45 and a debt-to-equity ratio of 0.65.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings results on Monday, November 8th. The construction company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The business had revenue of $903.20 million during the quarter. James Hardie Industries had a return on equity of 44.34% and a net margin of 13.31%. Research analysts anticipate that James Hardie Industries will post 1.41 EPS for the current fiscal year.

The business also recently disclosed a semi-annual dividend, which was paid on Friday, December 17th. Investors of record on Friday, November 19th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, November 18th. This is an increase from James Hardie Industries’s previous semi-annual dividend of $0.26. This represents a dividend yield of 0.7%. James Hardie Industries’s payout ratio is 59.18%.

A number of hedge funds have recently bought and sold shares of JHX. Goldman Sachs Group Inc. boosted its stake in James Hardie Industries by 7.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 710,609 shares of the construction company’s stock worth $24,296,000 after purchasing an additional 51,247 shares during the period. Bank of America Corp DE boosted its stake in James Hardie Industries by 92.9% in the 2nd quarter. Bank of America Corp DE now owns 77,128 shares of the construction company’s stock worth $2,636,000 after purchasing an additional 37,153 shares during the period. HMS Capital Management LLC bought a new position in James Hardie Industries in the 3rd quarter worth approximately $1,003,000. BlackRock Inc. boosted its stake in James Hardie Industries by 3.6% in the 3rd quarter. BlackRock Inc. now owns 619,640 shares of the construction company’s stock worth $22,109,000 after purchasing an additional 21,419 shares during the period. Finally, First Trust Advisors LP bought a new position in James Hardie Industries in the 2nd quarter worth approximately $629,000. Institutional investors and hedge funds own 1.11% of the company’s stock.

About James Hardie Industries

James Hardie Industries Plc engages in the manufacture of fiber cement siding and backer board. It operates through the following segments: North America Fiber Cement, Asia Pacific Fiber Cement, Europe Building Products, and Research & Development. The North America Fiber Cement segment manufactures fiber cement interior linings, exterior siding products and related accessories in the United States.

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