Eagle Materials (EXP) Falls More Steeply Than Broader Market: What Investors Need to Know
The most recent trading session ended with Eagle Materials (EXP) standing at $164.53, reflecting a -0.98% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a loss of 0.5% for the day. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 1.23%.
The the stock of maker of gypsum wallboard and cement has fallen by 6.63% in the past month, lagging the Construction sector's loss of 4.92% and the S&P 500's loss of 2.4%.
Market participants will be closely following the financial results of Eagle Materials in its upcoming release. The company plans to announce its earnings on October 26, 2023. The company is expected to report EPS of $4.18, up 12.37% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $632.21 million, up 4.49% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $13.91 per share and a revenue of $2.25 billion, representing changes of +11.01% and +4.74%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Eagle Materials. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Eagle Materials boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Eagle Materials is currently trading at a Forward P/E ratio of 11.95. For comparison, its industry has an average Forward P/E of 17.38, which means Eagle Materials is trading at a discount to the group.
The Building Products - Concrete and Aggregates industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 26, placing it within the top 11% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Eagle Materials Inc (EXP) : Free Stock Analysis Report
