Eagle Materials (EXP) Stock Sinks As Market Gains: What You Should Know
Eagle Materials (EXP) closed the most recent trading day at $192.54, moving -0.21% from the previous trading session. This move lagged the S&P 500's daily gain of 0.24%. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq lost 7.84%.
Heading into today, shares of the maker of gypsum wallboard and cement had gained 12.14% over the past month, outpacing the Construction sector's gain of 8.32% and the S&P 500's gain of 3.39% in that time.
Investors will be hoping for strength from Eagle Materials as it approaches its next earnings release, which is expected to be July 27, 2023. On that day, Eagle Materials is projected to report earnings of $3.54 per share, which would represent year-over-year growth of 25.53%. Meanwhile, our latest consensus estimate is calling for revenue of $605.21 million, up 7.8% from the prior-year quarter.
EXP's full-year Zacks Consensus Estimates are calling for earnings of $13.56 per share and revenue of $2.21 billion. These results would represent year-over-year changes of +8.22% and +2.72%, respectively.
Any recent changes to analyst estimates for Eagle Materials should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 past month, the Zacks Consensus EPS estimate has moved 0.1% lower. Eagle Materials is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Eagle Materials's current valuation metrics, including its Forward P/E ratio of 14.23. This represents a no noticeable deviation compared to its industry's average Forward P/E of 14.23.
The Building Products - Concrete and Aggregates industry is part of the Construction sector. This group has a Zacks Industry Rank of 7, putting it in the top 3% of all 250+ industries.
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.
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Eagle Materials Inc (EXP) : Free Stock Analysis Report
