James Hardie Industries (NYSE:JHX) Announces Earnings Results, Beats Estimates By $0.01 EPS

James Hardie Industries (NYSE:JHX) posted its quarterly earnings results on Wednesday. The construction company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01, Zacks reports. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. James Hardie Industries had a net margin of 2.70% and a return on equity of 13.52%. James Hardie Industries’s quarterly revenue was up 44.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 earnings per share.

James Hardie Industries Price Performance

James Hardie Industries stock opened at $18.71 on Wednesday. The company’s 50 day simple moving average is $20.20 and its 200-day simple moving average is $21.07. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 69.29, a price-to-earnings-growth ratio of 4.63 and a beta of 1.79. James Hardie Industries has a 1 year low of $16.46 and a 1 year high of $29.83. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.54.

Analysts Set New Price Targets

JHX has been the topic of a number of recent research reports. Barclays lowered their price target on shares of James Hardie Industries from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. JPMorgan Chase & Co. upgraded shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 11th. Zacks Research downgraded shares of James Hardie Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Truist Financial lifted their target price on shares of James Hardie Industries from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.13.

Institutional Investors Weigh In On James Hardie Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LLC raised its stake in shares of James Hardie Industries by 840.0% in the 4th quarter. Corient Private Wealth LLC now owns 214,417 shares of the construction company’s stock valued at $4,471,000 after acquiring an additional 191,606 shares during the period. Empowered Funds LLC purchased a new stake in shares of James Hardie Industries in the 4th quarter valued at approximately $107,000. Tudor Investment Corp ET AL raised its stake in shares of James Hardie Industries by 4.6% in the 4th quarter. Tudor Investment Corp ET AL now owns 366,799 shares of the construction company’s stock valued at $7,611,000 after acquiring an additional 16,039 shares during the period. Polymer Capital Management US LLC raised its stake in shares of James Hardie Industries by 20.5% in the 4th quarter. Polymer Capital Management US LLC now owns 72,300 shares of the construction company’s stock valued at $1,500,000 after acquiring an additional 12,300 shares during the period. Finally, RDST Capital LLC purchased a new stake in shares of James Hardie Industries in the 4th quarter valued at approximately $55,893,000. 7.96% of the stock is owned by hedge funds and other institutional investors.

About James Hardie Industries

James Hardie Industries plc (NYSE: JHX) is a global manufacturer of high-performance fiber cement building products. The company specializes in exterior cladding, trim and soffit, as well as interior backerboard solutions designed for residential and commercial construction. By combining cement, sand and cellulose fibers, James Hardie produces durable, low-maintenance materials that resist moisture, fire and termite damage, catering to builders, contractors and homeowners through a network of distributors and retail channels.

The company’s flagship products include Hardie® Plank® and Hardie® Panel® siding systems, Hardie® BackerBoard® for tile applications, and a range of architectural trim solutions.