Eagle Materials gains as Q4 revenue tops estimates

Eagle Materials

19/05/2022 16:29

** Construction materials supplier's shares  EXP.N  up 2.4%
at $126.30
    ** Posts Q4 revenue of $413.1 mln vs Wall Street estimates
of $401.2 mln - Refinitiv data  urn:newsml:reuters.com:*:nBw8Kx8Qla
    ** Says well-positioned to capitalize on strong demand for
construction activity 
    ** "Despite recent interest rate increases, housing demand
remains strong across our geographies, outpacing the supply of
homes" - President and CEO Michael Haack
    ** 13 of 15 brokerages rate the stock "buy" or higher, two
"hold"; their median PT is $175 - Refinitiv
    ** Including session's gains, shares down ~24.1% YTD

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))