James Hardie Industries plc (NYSE:JHX - Get Free Report)'s stock price gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $31.79, but opened at $34.68. James Hardie Industries shares last traded at $35.06, with a volume of 24,234 shares.
The construction company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.01. The firm had revenue of $960.80 million during the quarter, compared to the consensus estimate of $973.49 million. James Hardie Industries had a return on equity of 36.30% and a net margin of 11.16%. The company's quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the company earned $0.41 EPS.
Wall Street Analyst Weigh In
JHX has been the subject of a number of research analyst reports. StockNews.com cut shares of James Hardie Industries from a "buy" rating to a "hold" rating in a research report on Tuesday. JPMorgan Chase & Co. upgraded James Hardie Industries from a "neutral" rating to an "overweight" rating in a research report on Wednesday, November 6th.
Get Our Latest Stock Report on JHX
Institutional Investors Weigh In On James Hardie Industries
Several large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its stake in shares of James Hardie Industries by 55.7% in the 2nd quarter. Blue Trust Inc. now owns 1,045 shares of the construction company's stock valued at $33,000 after buying an additional 374 shares during the period. GAMMA Investing LLC raised its holdings in James Hardie Industries by 46.3% in the third quarter. GAMMA Investing LLC now owns 1,365 shares of the construction company's stock valued at $55,000 after acquiring an additional 432 shares in the last quarter. Huntington National Bank purchased a new position in James Hardie Industries in the third quarter worth approximately $55,000. Cubist Systematic Strategies LLC purchased a new position in James Hardie Industries in the second quarter worth approximately $66,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in James Hardie Industries during the 1st quarter worth approximately $71,000. 7.96% of the stock is owned by hedge funds and other institutional investors.
James Hardie Industries Stock Performance
The stock's 50-day simple moving average is $35.75 and its 200 day simple moving average is $34.40. The company has a market capitalization of $14.86 billion, a PE ratio of 34.27, a P/E/G ratio of 3.64 and a beta of 1.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.44 and a current ratio of 1.94.
James Hardie Industries Company Profile
(
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James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.
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