Eagle Materials (NYSE:EXP) Issues Quarterly Earnings Results

Eagle Materials (NYSE:EXP) posted its earnings results on Tuesday. The construction company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.34, Briefing.com reports. Eagle Materials had a net margin of 18.70% and a return on equity of 28.96%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.00 earnings per share.

Eagle Materials Stock Performance

NYSE EXP opened at $196.71 on Tuesday. The firm has a 50-day moving average price of $195.94 and a two-hundred day moving average price of $211.00. Eagle Materials has a 12-month low of $171.99 and a 12-month high of $243.64. The company has a market capitalization of $6.18 billion, a P/E ratio of 14.89 and a beta of 1.38. The company has a quick ratio of 2.68, a current ratio of 4.27 and a debt-to-equity ratio of 1.17.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. DA Davidson lowered their price target on shares of Eagle Materials from $225.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, February 2nd. Wall Street Zen raised Eagle Materials from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Research upgraded Eagle Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Wells Fargo & Company lifted their price target on Eagle Materials from $240.00 to $246.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Finally, Stephens restated an “equal weight” rating and issued a $245.00 price target on shares of Eagle Materials in a research note on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Eagle Materials has a consensus rating of “Hold” and an average price target of $228.82.

Institutional Investors Weigh In On Eagle Materials

Hedge funds and other institutional investors have recently made changes to their positions in the business. Baupost Group LLC MA grew its position in Eagle Materials by 39.0% during the third quarter. Baupost Group LLC MA now owns 939,660 shares of the construction company’s stock worth $218,978,000 after buying an additional 263,403 shares in the last quarter. Earnest Partners LLC bought a new stake in shares of Eagle Materials during the 4th quarter valued at $52,674,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Eagle Materials during the 3rd quarter valued at $51,812,000. AQR Capital Management LLC grew its holdings in shares of Eagle Materials by 219.4% during the 4th quarter. AQR Capital Management LLC now owns 262,880 shares of the construction company’s stock worth $54,332,000 after purchasing an additional 180,574 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Eagle Materials in the fourth quarter worth $30,126,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

About Eagle Materials

Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.