Brokerages Set Eagle Materials Inc. (NYSE:EXP) PT at $279.67

Shares of Eagle Materials Inc. (NYSE:EXP) have earned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $279.67.

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Eagle Materials from $200.00 to $265.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. Raymond James boosted their price target on Eagle Materials from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Stephens boosted their price target on Eagle Materials from $250.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group boosted their price target on Eagle Materials from $238.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Truist Financial boosted their price target on Eagle Materials from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd.

Hedge Funds Weigh In On Eagle Materials

A number of institutional investors have recently made changes to their positions in EXP. Asset Management One Co. Ltd. acquired a new position in shares of Eagle Materials in the 4th quarter worth approximately $1,085,000. NewEdge Wealth LLC increased its holdings in Eagle Materials by 13.4% during the 4th quarter. NewEdge Wealth LLC now owns 89,090 shares of the construction company’s stock worth $18,071,000 after purchasing an additional 10,514 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Eagle Materials during the 4th quarter worth about $1,988,000. Van ECK Associates Corp boosted its stake in shares of Eagle Materials by 39.7% during the 4th quarter. Van ECK Associates Corp now owns 10,537 shares of the construction company’s stock worth $2,137,000 after buying an additional 2,993 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of Eagle Materials by 261.8% during the 4th quarter. TD Asset Management Inc now owns 871,970 shares of the construction company’s stock worth $176,870,000 after buying an additional 630,964 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Eagle Materials Price Performance

EXP opened at $217.52 on Tuesday. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 15.97 and a beta of 1.32. Eagle Materials has a 1 year low of $145.03 and a 1 year high of $276.61. The company has a current ratio of 2.62, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83. The stock has a fifty day moving average price of $238.13 and a 200 day moving average price of $236.97.

Eagle Materials (NYSE:EXP) last released its quarterly earnings data on Tuesday, May 21st. The construction company reported $2.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.48). The firm had revenue of $476.70 million for the quarter, compared to analyst estimates of $480.20 million. Eagle Materials had a net margin of 21.14% and a return on equity of 37.31%. Eagle Materials’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.79 EPS. Analysts forecast that Eagle Materials will post 16.01 EPS for the current fiscal year.

Eagle Materials Announces Dividend

The firm 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 $0.25 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Eagle Materials’s payout ratio is presently 7.34%.

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.