Eagle Materials (NYSE:EXP) Announces Quarterly Earnings Results

Eagle Materials (NYSE:EXP) issued its earnings results on Tuesday. The construction company reported $3.94 EPS for the quarter, topping the consensus estimate of $3.57 by $0.37, Briefing.com reports. The firm had revenue of $608.69 million during the quarter, compared to the consensus estimate of $622.06 million. Eagle Materials had a return on equity of 37.31% and a net margin of 21.14%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.55 earnings per share.

Eagle Materials Price Performance

Eagle Materials stock traded up $6.71 during midday trading on Wednesday, reaching $272.31. 552,500 shares of the stock traded hands, compared to its average volume of 321,124. The stock’s fifty day moving average is $228.47 and its 200-day moving average is $241.43. Eagle Materials has a 12 month low of $145.03 and a 12 month high of $279.69. The stock has a market cap of $9.22 billion, a P/E ratio of 19.99 and a beta of 1.32. The company has a quick ratio of 1.06, a current ratio of 2.62 and a debt-to-equity ratio of 0.83.

Eagle Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, June 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend was Monday, June 17th. Eagle Materials’s payout ratio is presently 7.34%.

Analysts Set New Price Targets

Several research analysts have commented on the company. StockNews.com downgraded Eagle Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. The Goldman Sachs Group upped their price objective on Eagle Materials from $238.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Stephens upped their price objective on Eagle Materials from $250.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Jefferies Financial Group upped their price objective on Eagle Materials from $270.00 to $283.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Stifel Nicolaus reduced their target price on Eagle Materials from $300.00 to $286.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $281.00.

About Eagle Materials

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.