From Nasdaq:

Eagle Materials (EXP) has recent site upgrade and so it may be a great inclusion in anyone’s portfolio. The upgrade is due to an uptrend in earnings estimates, a strong force affecting stock prices. The sole determinant of the Zacks rating is a company’s changing earnings picture, so this is a positive sign for EXP.

Eagle Materials’ upgrade to a Zacks Rank #2 reflects the positivity around its earnings prospects. Rising earnings estimates and a higher rating could lead to increased demand and a boost in its stock price, benefiting investors. The stock could be poised for an upward movement.

Interestingly, a changing earnings picture is a dominant factor influencing near-term price movements of stocks. This is because institutional investors use earnings estimates to evaluate the true value of a stock. An increase in estimated earnings leads to a higher stock value, encouraging investment.

Earnings estimate revisions indicate the changing future potential of a company. Thus, tracking such revisions could be rewarding for investment decisions. This is where the Zacks Rank stock-rating system comes in, as it effectively uses earnings estimate revisions to classify stocks into five groups.

Eagle Materials is expected to earn $14.16 share for the fiscal year ending March 2024, marking a 13% year-over-year change. Analysts have been steadily raising their estimates for the company, with the Zacks Consensus Estimate for the company increasing by 1.8% over the past three months.

Eagle Materials’ Zacks Rank #2 positions it in the top 20% of stocks in terms of estimate revisions, suggesting a possible upward movement for the stock in the near term.

Zacks experts claim there’s a little-known chemical company with a Potential upside of 100% or more. This company is showing an increase in earnings and has 1.5 billion for share buybacks. If this interests you, take a peek at their top stock and runners up. Want more? Download 7 Best Stocks for the Next 30 Days, for free.



Read more: All You Need to Know About Eagle Materials (EXP) Rating Upgrade to Buy