The Northcoast Research Analysts Cut Earnings Estimates for Eagle Materials Inc. (EXP)

The Northcoast Research Analysts Cut Earnings Estimates for Eagle Materials Inc. (EXP)

Eagle Materials Inc. (NYSE:EXP) – Northcoast Research cut their FY2017 earnings per share (EPS) estimates for Eagle Materials in a report issued on Wednesday. Northcoast Research analyst K. Hocevar now forecasts that the brokerage will post earnings of $4.15 per share for the year, down from their prior estimate of $4.30. Northcoast Research also issued estimates for Eagle Materials’ FY2018 earnings at $5.00 EPS.

A number of other brokerages have also commented on EXP. Zacks Investment Research upgraded Eagle Materials from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Tuesday, July 26th. DA Davidson set a $100.00 price objective on Eagle Materials and gave the stock a “buy” rating in a research report on Tuesday, September 13th. CL King lowered Eagle Materials from a “strong-buy” rating to a “neutral” rating in a research report on Tuesday, July 26th. Finally, Standpoint Research lowered Eagle Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $85.00.

Shares of Eagle Materials (NYSE:EXP) opened at 80.49 on Friday. Eagle Materials has a 12 month low of $45.03 and a 12 month high of $87.57. The company has a 50-day moving average of $77.24 and a 200 day moving average of $78.33. The company has a market cap of $3.88 billion, a PE ratio of 20.71 and a beta of 1.47.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Monday, October 24th. The company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.30 by $0.05. Eagle Materials had a return on equity of 17.96% and a net margin of 16.43%. The business earned $332.70 million during the quarter, compared to the consensus estimate of $344.65 million. During the same quarter in the prior year, the firm posted $1.11 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Eagle Materials by 1.2% in the second quarter. Vanguard Group Inc. now owns 3,422,665 shares of the company’s stock valued at $264,058,000 after buying an additional 40,857 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in Eagle Materials by 14.3% in the second quarter. Frontier Capital Management Co. LLC now owns 1,825,759 shares of the company’s stock valued at $140,857,000 after buying an additional 227,736 shares in the last quarter. State Street Corp increased its position in Eagle Materials by 4.5% in the first quarter. State Street Corp now owns 1,711,658 shares of the company’s stock valued at $119,993,000 after buying an additional 74,038 shares in the last quarter. Neuberger Berman Group LLC increased its position in Eagle Materials by 66.6% in the second quarter. Neuberger Berman Group LLC now owns 1,571,505 shares of the company’s stock valued at $121,242,000 after buying an additional 627,950 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in Eagle Materials by 9.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 713,345 shares of the company’s stock valued at $50,013,000 after buying an additional 63,345 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP James H. Graass sold 18,198 shares of the stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $79.93, for a total transaction of $1,454,566.14. Following the transaction, the executive vice president now owns 68,817 shares in the company, valued at approximately $5,500,542.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.50% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. Eagle Materials’s dividend payout ratio (DPR) is 10.26%.

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