James Hardie Industries (NYSE:JHX) Releases Earnings Results, Beats Estimates By $0.01 EPS

James Hardie Industries (NYSE:JHX) posted its earnings results on Monday. The construction company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01, Zacks reports. James Hardie Industries had a net margin of 8.75% and a return on equity of 27.95%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the firm posted $0.36 EPS. James Hardie Industries’s revenue was up 34.5% on a year-over-year basis.

James Hardie Industries Price Performance

JHX opened at $17.88 on Wednesday. The stock has a 50-day moving average price of $19.92 and a 200-day moving average price of $23.32. James Hardie Industries has a 12-month low of $16.46 and a 12-month high of $37.65. The company has a current ratio of 3.76, a quick ratio of 3.31 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $7.68 billion, a P/E ratio of 23.22, a PEG ratio of 14.34 and a beta of 1.82.

Analysts Set New Price Targets

Several research analysts have recently weighed in on JHX shares. Jefferies Financial Group started coverage on shares of James Hardie Industries in a report on Friday, August 8th. They issued a “buy” rating and a $34.00 price target on the stock. Raymond James Financial set a $28.00 target price on James Hardie Industries in a research report on Wednesday, October 29th. Vertical Research began coverage on James Hardie Industries in a report on Monday, October 20th. They issued a “hold” rating on the stock. Truist Financial boosted their price objective on James Hardie Industries from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Wolfe Research initiated coverage on shares of James Hardie Industries in a research note on Tuesday, September 30th. They issued an “outperform” rating and a $25.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.91.

Institutional Trading of James Hardie Industries

Several hedge funds and other institutional investors have recently bought and sold shares of JHX. Northwestern Mutual Wealth Management Co. grew its position in James Hardie Industries by 11,238.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock valued at $40,000 after acquiring an additional 1,461 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of James Hardie Industries by 67.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,576 shares of the construction company’s stock valued at $67,000 after purchasing an additional 1,034 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of James Hardie Industries during the 3rd quarter valued at $167,000. Quinn Opportunity Partners LLC purchased a new stake in James Hardie Industries during the third quarter valued at about $192,000. Finally, Quantessence Capital LLC purchased a new stake in James Hardie Industries during the third quarter valued at about $301,000. Hedge funds and other institutional investors own 7.96% of the company’s stock.

James Hardie Industries Company Profile

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.