Eagle Materials shares surged 5.3% to close at $224.58 in the last trading session, driven by stronger-than-expected U.S. pending home sales data that signaled improving housing-market activity and supported demand expectations for construction materials. The move came on notable volume and compares to a 6.5% gain over the past four weeks. Investor sentiment was further aided by a slight decline in mortgage rates to 6.47% from 6.52% in the prior week, according to Freddie Mac, while easing geopolitical tensions contributed to a broader market rally. The maker of gypsum wallboard and cement is expected to post quarterly earnings of $3.27 per share on revenues of $627.26 million in its upcoming report, representing year-over-year declines of 13% and 1.2%, respectively. The consensus EPS estimate for the quarter has been revised 2.5% higher over the last 30 days, and the stock currently carries a Zacks Rank #2 (Buy).
Eagle Materials IncStronger-than-expected U.S. pending home sales data signals improving housing-market activity, supporting demand for construction materials like gypsum wallboard and cement.
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