Eagle Materials (EXP) Falls More Steeply Than Broader Market: What Investors Need to Know
Eagle Materials (EXP) ended the recent trading session at $157.36, demonstrating a -1.22% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.85%. Meanwhile, the Dow lost 0.75%, and the Nasdaq, a tech-heavy index, lost 0.96%.
Heading into today, shares of the maker of gypsum wallboard and cement had lost 6.91% over the past month, lagging the Construction sector's loss of 6.14% and the S&P 500's loss of 3.02% in that time.
The investment community will be paying close attention to the earnings performance of Eagle Materials in its upcoming release. The company is slated to reveal its earnings on October 26, 2023. On that day, Eagle Materials is projected to report earnings of $4.18 per share, which would represent year-over-year growth of 12.37%. At the same time, our most recent consensus estimate is projecting a revenue of $632.21 million, reflecting a 4.49% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.91 per share and revenue of $2.25 billion, which would represent changes of +11.01% and +4.74%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Eagle Materials. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Eagle Materials possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Eagle Materials currently has a Forward P/E ratio of 11.46. This represents a discount compared to its industry's average Forward P/E of 16.7.
The Building Products - Concrete and Aggregates industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 25, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Eagle Materials Inc (EXP) : Free Stock Analysis Report
