Jefferies Financial Group Weighs in on Eagle Materials Inc.’s Q1 2023 Earnings (NYSE:EXP)

Eagle Materials Inc. (NYSE:EXPGet Rating) – Equities researchers at Jefferies Financial Group dropped their Q1 2023 earnings estimates for Eagle Materials in a research note issued on Thursday, May 19th. Jefferies Financial Group analyst P. Ng now expects that the construction company will post earnings per share of $2.67 for the quarter, down from their prior forecast of $2.87. Jefferies Financial Group also issued estimates for Eagle Materials’ Q4 2023 earnings at $2.12 EPS, FY2023 earnings at $11.30 EPS and FY2024 earnings at $12.81 EPS.

A number of other research analysts also recently issued reports on the stock. Loop Capital reduced their price objective on shares of Eagle Materials from $170.00 to $155.00 in a research report on Friday, January 28th. The Goldman Sachs Group reduced their price objective on shares of Eagle Materials from $190.00 to $162.00 and set a “buy” rating on the stock in a research report on Friday. Zacks Investment Research raised shares of Eagle Materials from a “sell” rating to a “hold” rating in a research report on Friday, May 13th. StockNews.com began coverage on shares of Eagle Materials in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, DA Davidson dropped their target price on shares of Eagle Materials from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $166.36.

Shares of Eagle Materials stock opened at $121.85 on Monday. The company has a current ratio of 2.13, a quick ratio of 1.05 and a debt-to-equity ratio of 0.89. The company’s fifty day simple moving average is $126.17 and its two-hundred day simple moving average is $143.10. The company has a market cap of $4.81 billion, a P/E ratio of 13.33 and a beta of 1.24. Eagle Materials has a 12-month low of $114.55 and a 12-month high of $169.15.

Eagle Materials (NYSE:EXPGet Rating) last issued its earnings results on Thursday, May 19th. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.73 by $0.17. The company had revenue of $413.10 million for the quarter, compared to the consensus estimate of $400.68 million. Eagle Materials had a net margin of 20.10% and a return on equity of 30.51%. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.56 earnings per share.

A number of hedge funds have recently bought and sold shares of EXP. Allspring Global Investments Holdings LLC bought a new position in shares of Eagle Materials during the 4th quarter valued at approximately $249,701,000. Invesco Ltd. boosted its position in shares of Eagle Materials by 5.1% during the 4th quarter. Invesco Ltd. now owns 1,343,963 shares of the construction company’s stock valued at $223,714,000 after acquiring an additional 65,753 shares during the last quarter. State Street Corp boosted its position in shares of Eagle Materials by 0.3% during the 1st quarter. State Street Corp now owns 1,056,912 shares of the construction company’s stock valued at $135,929,000 after acquiring an additional 3,684 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Eagle Materials by 61.5% during the 1st quarter. Victory Capital Management Inc. now owns 625,280 shares of the construction company’s stock valued at $78,442,000 after acquiring an additional 238,048 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in shares of Eagle Materials by 14.7% during the 4th quarter. Frontier Capital Management Co. LLC now owns 618,246 shares of the construction company’s stock valued at $102,913,000 after acquiring an additional 79,112 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Eagle Materials Company Profile (Get Rating)

Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.

Further Reading

Earnings History and Estimates for Eagle Materials (NYSE:EXP)

Want More Great Investing Ideas?

Receive News & Ratings for Eagle Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Materials and related companies with MarketBeat.com's FREE daily email newsletter.