Eagle Materials (NYSE:EXP) PT Lowered to $297.00 at Citigroup

Eagle Materials (NYSE:EXP) had its price target decreased by Citigroup from $311.00 to $297.00 in a research report released on Thursday, Benzinga reports. Citigroup currently has a buy rating on the construction company’s stock.

Several other analysts have also recently issued reports on EXP. Loop Capital dropped their target price on Eagle Materials from $310.00 to $305.00 and set a buy rating on the stock in a research report on Wednesday. The Goldman Sachs Group lifted their target price 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 increased their price target on shares of Eagle Materials from $250.00 to $295.00 and gave the company an overweight rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. lifted their price objective on shares of Eagle Materials from $200.00 to $265.00 and gave the stock a neutral rating in a research report on Friday, March 22nd. Finally, Stifel Nicolaus decreased their target price on shares of Eagle Materials from $300.00 to $286.00 and set a buy rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $279.67.

Eagle Materials Price Performance

EXP opened at $238.27 on Thursday. The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of 17.49 and a beta of 1.35. The company has a current ratio of 2.62, a quick ratio of 1.13 and a debt-to-equity ratio of 0.83. Eagle Materials has a 12-month low of $145.03 and a 12-month high of $276.61. The business’s fifty day simple moving average is $258.13 and its 200-day simple moving average is $228.63.

Eagle Materials (NYSE:EXP) last posted its earnings results on Tuesday, May 21st. The construction company reported $2.24 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.48). Eagle Materials had a net margin of 21.14% and a return on equity of 37.31%. The business had revenue of $476.70 million for the quarter, compared to analysts’ expectations of $480.20 million. During the same period last year, the business posted $2.79 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities research analysts anticipate that Eagle Materials will post 15.95 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, June 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. Eagle Materials’s payout ratio is currently 7.34%.

Insider Activity

In related news, EVP Matt Newby sold 2,940 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $251.15, for a total value of $738,381.00. Following the completion of the transaction, the executive vice president now owns 21,819 shares in the company, valued at approximately $5,479,841.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Eagle Materials

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC purchased a new stake in shares of Eagle Materials in the 3rd quarter valued at $25,000. Eagle Bay Advisors LLC boosted its holdings in Eagle Materials by 79.2% in the first quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock valued at $26,000 after purchasing an additional 42 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in Eagle Materials during the 1st quarter worth about $27,000. Tompkins Financial Corp purchased a new position in shares of Eagle Materials during the 1st quarter valued at about $27,000. Finally, Rise Advisors LLC acquired a new position in shares of Eagle Materials in the 1st quarter valued at about $27,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

Eagle Materials Company Profile

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.