Eagle Materials Inc. (NYSE:EXP) – Equities research analysts at DA Davidson raised their Q3 2017 earnings per share estimates for Eagle Materials in a report issued on Monday. DA Davidson analyst B. Thielman now expects that the firm will post earnings per share of $1.22 for the quarter, up from their previous estimate of $1.21. DA Davidson currently has a “Buy” rating and a $92.00 target price on the stock. DA Davidson also issued estimates for Eagle Materials’ FY2018 earnings at $5.38 EPS and FY2019 earnings at $6.20 EPS.
Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Monday, July 25th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. The business had revenue of $297 million for the quarter, compared to the consensus estimate of $295.49 million. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 EPS.
Several other research firms have also recently weighed in on EXP. Zacks Investment Research upgraded shares of Eagle Materials from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Tuesday. CL King cut shares of Eagle Materials from a “strong-buy” rating to a “neutral” rating in a research report on Tuesday. TheStreet upgraded shares of Eagle Materials from a “hold” rating to a “buy” rating in a research report on Friday, April 15th. Standpoint Research cut shares of Eagle Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Finally, Citigroup Inc. increased their price objective on shares of Eagle Materials from $72.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, April 18th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $83.13.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 22nd. Shareholders of record on Monday, June 20th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Thursday, June 16th.
In related news, Director Richard Ross Stewart sold 10,888 shares of the firm’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 transaction, the director now directly owns 5,874 shares of the company’s stock, valued at $427,862.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dale Craig Kesler sold 32,184 shares of the firm’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $79.65, for a total transaction of $2,563,455.60. Following the transaction, the chief financial officer now directly owns 95,620 shares in the company, valued at $7,616,133. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Eagle Materials stock. Russell Frank Co raised its stake in Eagle Materials Inc. (NYSE:EXP) by 89.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,197 shares of the company’s stock after buying an additional 24,682 shares during the period. Russell Frank Co owned 0.10% of Eagle Materials worth $3,137,000 at the end of the most recent reporting period.
Eagle Materials Inc manufactures and distributes gypsum wallboard and also manufactures and sells cement. Gypsum wallboard is distributed throughout the United States, in the geographic markets nearest to its production facilities. The Company sells cement in six regional markets, including northern Nevada and California, the greater Chicago area, the Rocky Mountain region, the Central Plains region and Texas.
