Eagle Materials (EXP) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest trading session, Eagle Materials (EXP) closed at $200.24, marking a -1.32% move from the previous day. This change lagged the S&P 500's 0.37% loss on the day. At the same time, the Dow lost 0.62%, and the tech-heavy Nasdaq lost 0.19%.
The maker of gypsum wallboard and cement's stock has dropped by 0.2% in the past month, exceeding the Construction sector's loss of 0.65% and lagging the S&P 500's gain of 1.56%.
The investment community will be closely monitoring the performance of Eagle Materials in its forthcoming earnings report. The company is scheduled to release its earnings on January 25, 2024. It is anticipated that the company will report an EPS of $3.56, marking a 11.25% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $537.23 million, up 5.03% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $14.16 per share and a revenue of $2.24 billion, representing changes of +13.01% and +4.37%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Eagle Materials. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Eagle Materials presently features a Zacks Rank of #2 (Buy).
Investors should also note Eagle Materials's current valuation metrics, including its Forward P/E ratio of 14.33. For comparison, its industry has an average Forward P/E of 12.56, which means Eagle Materials is trading at a premium to the group.
The Building Products - Concrete and Aggregates industry is part of the Construction sector. With its current Zacks Industry Rank of 37, this industry ranks in the top 15% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow EXP in the coming trading sessions, be sure to utilize Zacks.com.
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
