James Hardie Industries Stock (NYSE: JHX)

James Hardie Industries (NYSE:JHX) Stock, Quote.Headers.trade-ideas

James Hardie Industries

James Hardie is a manufacturer of fiber cement-based building products, selling primarily to the residential construction industry. North America is the primary geography, generating about 80% of group earnings. Here, it is the largest manufacturer of fiber cement, which is mainly used for exterior siding on houses. Businesses in Australia, New Zealand, and Europe, make up the rest of earnings.

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Darden Restaurants Posts Q1 Results, Joins Tesla, Nvidia, XPeng And Other Big Stocks Moving Higher On Thursday

James Hardie Industries plc American Depositary Shares (Ireland)

James Hardie Industries PLC

Shares of Granite Point Mortgage Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPMT#NYSE">GPMT</a>) rose sharply in today's pre-market trading after the company announced a third-quarter common and p<a href="https://www.benzinga.com/quote/GPMT/news">referred stock dividends</a>.
After the market close on Friday, Granite Point Mortgage Trust declared a quarterly cash dividend of 5 cents per share of common stock for the third quarter of 2024. The company's board also declared a quarterly cash dividend of 43.75 cents per share of the 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock.
Granite Point Mortgage Trust shares gained 3.2% to $2.93 in the pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Nukkleus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUKK#NASDAQ">NUKK</a>) gained 73.3% to $0.3683 in pre-market trading after gaining over 5% on Friday.</li>
<li>Linkage Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGCB#NASDAQ">LGCB</a>) gained 54.1% to $0.6445 in the pre-market trading session after dipping 57% on Friday.</li>
<li>Wheeler Real Estate Investment Trust, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WHLR#NASDAQ">WHLR</a>) rose 42.9% to $19.99 in pre-market trading after dipping more than 25% on Friday.</li>
<li>Nuvve Holding Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVVE#NASDAQ">NVVE</a>) shares rose 30.9% to $5.13 in pre-market trading after tumbling over 16% on Friday.</li>
<li>Garden Stage Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSIW#NASDAQ">GSIW</a>) gained 26.7% to $1.70 in pre-market trading after dipping 83% on Friday.</li>
<li>Treasure Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TGL#NASDAQ">TGL</a>) gained 23.5% to $0.84 in pre-market trading.</li>
<li>Gogoro Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GGR#NASDAQ">GGR</a>) gained 16.4% to $0.60 in pre-market trading after falling 13% on Friday.</li>
<li>Stem, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STEM#NYSE">STEM</a>) rose 12.8% to $0.4006 in pre-market trading after dipping 12% on Friday. Stem recently named David Buzby as interim CEO following John Carrington&#8217;s departure.</li>
<li>AC Immune SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACIU#NASDAQ">ACIU</a>) shares gained 7.1% to $3.95 in pre-market trading.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Jin Medical International Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZJYL#NASDAQ">ZJYL</a>) fell 21.5% to $3.20 in pre-market trading after jumping around 55% on Friday.</li>
<li>PainReform Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRFX#NASDAQ">PRFX</a>) shares fell 21.1% to $0.6080 in pre-market trading. The company recently announced findings regarding the compatibility of sutures in human clinical trials of PRF-110.</li>
<li>SolarMax Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMXT#NASDAQ">SMXT</a>) shares dipped 19.7% to $0.70 in pre-market trading after surging 9% on Friday.</li>
<li>Aditxt, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTX#NASDAQ">ADTX</a>) fell 19% to $0.31 in pre-market trading following a 4% decline on Friday.</li>
<li>Chijet Motor Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CJET#NASDAQ">CJET</a>) shares declined 18.5% to $2.28 in pre-market trading. Chijet Motor Company announced issuance of ordinary shares to holders of contingent value rights.</li>
<li>CERo Therapeutics Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERO#NASDAQ">CERO</a>) fell 16% to $0.10 in today's pre-market trading after jumping 37% on Thursday.</li>
<li>Gaxos.ai Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GXAI#NASDAQ">GXAI</a>) shares declined 15.2% to $2.05 in pre-market trading. Gaxos.ai announced exercise of warrants for $3.24 million gross proceeds.</li>
<li>Maxeon Solar Technologies, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAXN#NASDAQ">MAXN</a>) declined 14.8% to $0.0780 in pre-market trading after the company received Nasdaq delisting notification.</li>
<li>Primega Group Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGHL#NASDAQ">PGHL</a>) shares fell 10.3% to $15.00 in pre-market trading after gaining more than 5% on Friday.</li>
<li>James Hardie Industries plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) shares fell 6% to $39.49 in pre-market trading after gaining more than 8% on Friday.</li>
</ul>
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This week, the Federal Reserve&#8216;s decision to reduce interest rates by 50 basis points boosted share prices across the technology, construction, <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40937291/bank-stocks-hit-inflection-point-after-feds-50-basis-point-cut-analyst-reveal-top-p" rel="noreferrer noopener">industrial, machinery, and financial sectors</a>.
These eleven large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Constellation Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) stock jumped 30.11% last week after <a href="https://www.benzinga.com//node/40957437" target="_blank" rel="noreferrer noopener">signing a 20-year power purchase agreement</a> with Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) to help launch the Crance Clean Energy Center and restart Three Mile Island Unit 1.</li>
<li>Vistra Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) stock gained 26.10% last week after <a href="https://www.benzinga.com//node/40943063" target="_blank" rel="noreferrer noopener">the company executed definitive agreements</a> with affiliates of Nuveen Asset Management and Avenue Capital Management II to acquire their combined 15% equity interest in Vistra Vision.</li>
<li>Carvana Co.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) shares increased 22.52%. Evercore ISI raised its price forecast <a href="https://www.benzinga.com/quote/CVNA/analyst-ratings" target="_blank" rel="noreferrer noopener">on the stock from&nbsp;$142&nbsp;to&nbsp;$157</a>.</li>
<li>Symbotic Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) stock gained 19.06% last week as stocks in the broader industrial space jumped following the Fed&#8217;s announcement to cut rates by 50 basis points, which could support investment and economic growth.</li>
<li>Duolingo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOL#NASDAQ">DUOL</a>) stock was up 17.32% in the last week.</li>
<li>James Hardie Industries plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) stock upped 16.38% as stocks in the broader industrial space jumped following the Fed&#8217;s announcement to cut rates by 50 basis points, which could support investment and economic growth. The company also announced it has repurchased up to 8.4 million of its shares.</li>
<li>Texas Pacific Land Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>) gained 15.73% as stocks of oil and gas companies soared amid a rise in the price of oil after the Fed rate cut, which could lift the demand outlook.</li>
<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) stock gained 15.71% as <a href="https://www.benzinga.com/quote/crwd/analyst-ratings" target="_blank" rel="noreferrer noopener">several analysts</a> maintained their buy forecasts and said the customer backlash following the software incident had largely passed.</li>
<li>Maplebear Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>) shares rose 13.92%</li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) stock jumped 13.47%&nbsp;last week after Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) assured investors it would not drop its majority stake in the <a href="https://www.benzinga.com//node/40949356" target="_blank" rel="noreferrer noopener">Israeli autonomous driving company</a>.</li>
<li>Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) <a href="https://www.benzinga.com//node/40946478" target="_blank" rel="noreferrer noopener">stock rose 12.66%</a>. Stocks of several U.S.-listed Chinese companies gained ahead of expectations that the People&#8217;s Bank of China will cut rates.</li>
</ol>
Also Read:
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<li><a href="https://www.benzinga.com/news/large-cap/24/09/40972060/novo-nordisk-chewy-and-fedex-are-among-top-10-large-cap-losers-last-week-sept-15-sept-21-are-the-o" target="_blank" rel="noreferrer noopener">Novo Nordisk, Chewy And FedEx Are Among Top 10 Large Cap Losers Last Week (Sept 15-Sept 21): Are The Others In Your Portfolio?</a></li>
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Photo by Ihor Bondarenko on Shutterstock

U.S. stocks were higher, with the Dow Jones index surging around 400 points on Thursday.
Shares of Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) rose sharply during Thursday's session <a href="https://www.benzinga.com/quote/DRI/earnings">following first-quarter results.</a>
Darden reported quarterly earnings of $1.75 per share which missed the analyst consensus estimate of $1.83 per share. The company reported quarterly sales of $2.76 billion which missed the analyst consensus estimate of $2.80 billion.
Darden Restaurants shares surged 7.4% to $170.92 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Rezolve AI Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RZLV#NASDAQ">RZLV</a>) shares jumped 88.8% to $8.97. The company issued a PR applauding the recent announcement by Microsoft and BlackRock to invest $30 billion into AI infrastructure.</li>
<li>Edgewise Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWTX#NASDAQ">EWTX</a>) gained 37.7% to $26.26 after the company announced top-line data of EDG-7500 from the Phase 1 trial in healthy subjects and the single-dose arm of the Phase 2 CIRRUS-HCMtrial in patients with obstructive HCM.</li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) shares surged 13.4% to $13.17 after Intel reportedly said it does not have plans to divest a majority interest in the company.</li>
<li>Bel Fuse Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BELFB#NASDAQ">BELFB</a>) shares rose 10.3% to $76.65. Bel announced an agreement to acquire Enercon Technologies.</li>
<li>TeraWulf Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WULF#NASDAQ">WULF</a>) gained 10.3% to $4.48.</li>
<li>XCHG Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCH#NASDAQ">XCH</a>) gained 10.2% to $20.25.</li>
<li>Bit Digital, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) shares jumped 9.4% to $3.14. Shares of crypto-linked stocks traded higher after the Fed&#8217;s Wednesday decision to cut rates by 50 basis points.</li>
<li>MINISO Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NASDAQ">MNSO</a>) shares jumped 8.6% to $16.44.</li>
<li>Symbotic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) gained 7% to $26.73.</li>
<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) climbed 7% to $141.91. Shares of crypto-linked stocks traded higher after the Fed&#8217;s Wednesday decision to cut rates by 50 basis points.</li>
<li>XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) shares rose 6.6% to $9.21. The company disclosed that XPENG Motors will showcase its latest technologies and solutions at the Paris Motor Show 2024 in October.</li>
<li>James Hardie Industries plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) gained 5.8% to $38.30.</li>
<li>Opthea Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPT#NASDAQ">OPT</a>) gained 5.4% to $3.70.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose 4.3% to $236.88.</li>
<li>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) gained 4% to $117.97.</li>
</ul>
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Shares of construction and home builder companies are trading higher following strong New Home Sales economic data for July. Also, the sector may be moving in sympathy with the market after Fed Chair Powell offered an optimistic U.S. economic outlook and indicated future rate cuts.

&quot;We continue to expect the North American market for exterior products to be down low to mid-single digits over the course of our fiscal year, and now anticipate that the market backdrop will be particularly challenging during our fiscal&nbsp;second quarter. However, despite these headwinds, we remain well-positioned to achieve full year results within the ranges we provided at the beginning of the year...&quot;
Q2&nbsp;FY25&nbsp;Guidance
<ul>
<li>North American volumes to be in the range of 705 million to 735 million standard feet</li>
<li>North American EBIT margin to be in the range of&nbsp;27.5%&nbsp;to&nbsp;29.5%</li>
<li>Adjusted Net Income to be in the range of&nbsp;$135 million&nbsp;to&nbsp;$155 million</li>
</ul>
Full Year FY25&nbsp;Guidance
<ul>
<li>North American Volumes: 2.95 to 3.15 billion standard feet&nbsp;(unchanged)</li>
<li>North American EBIT Margin:&nbsp;29%&nbsp;to&nbsp;31%&nbsp;(unchanged)</li>
<li>Adjusted Net Income:&nbsp;$630 million&nbsp;to&nbsp;$700 million&nbsp;(unchanged)</li>
<li>Capital Expenditures:&nbsp;$500 million&nbsp;to&nbsp;$550 million&nbsp;(unchanged)</li>
</ul>

Guidance

James Hardie Industries Reaffirms FY25 Guidance

Earnings

James Hardie Industries Reports Q1 FY25 Adjusted EPS Of $0.41, Up +4% YY; Net Sales Of $992M, Up +4% Y/Y

-&nbsp;U.S. leading hard siding company becomes exclusive siding and trim supplier&nbsp;for nation's fifth largest homebuilder -
CHICAGO, Aug. 6, 2024 /PRNewswire/ -- James Hardie Building Products Inc. (James Hardie), a subsidiary of James Hardie Industries plc (ASX: JHX;&nbsp;NYSE:&nbsp;JHX) and a North American leader in home-building products, today announced a multi-year exclusive agreement with Meritage Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>), the fifth-largest public homebuilder in the United States.
The exclusive agreement bolsters the existing relationship between James Hardie and Meritage and will make Hardie&#xAE; siding and trim products standard on every new Meritage home where hard siding is installed across the U.S. through 2027.

James Hardie Building Products Announces Exclusive Product Deal With Meritage Homes; Will Make Hardie Siding And Trim Products Standard On Every New Meritage Home Where Hard Siding Is Installed Across The U.S. Through 2027

As of July 19, 2024, three stocks in the materials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Sherwin-Williams Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>)</h3>
<ul>
<li>On July 17, Sherwin-Williams declared a dividend of 71.5 cents per common share. The company's stock gained around 8% over the past month and has a <a href="https://www.benzinga.com/quote/SHW">52-week high of $348.37</a>.</li>
<li>RSI Value: 70.23&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>SHW Price Action: Shares of Sherwin-Williams fell 0.1% to close at $325.46 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">SunCoke Energy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SXC#NYSE">SXC</a>)</h3>
<ul>
<li>SunCoke Energy will release its second quarter financial results on Wednesday, July 31, before the opening bell. The company's stock gained around 13% over the past month and <a href="https://www.benzinga.com/quote/SXC">has a 52-week high</a> of $11.48.</li>
<li>RSI Value: 70.69</li>
<li>SXC Price Action: Shares of SunCoke Energy gained 0.2% to close at $11.01 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">James Hardie Industries plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>)</h3>
<ul>
<li>On May 20, James Hardie Industries reported worse-than-expected fourth-quarter financial results. James Hardie CEO Aaron Erter said, &#8220;Our team&#8217;s focus remains simple: working safely, partnering with our customers, managing decisively, and controlling what we can control. This focus has enabled us to deliver a strong fourth quarter and fiscal year for Adjusted Net Income.&#8221; The company's stock gained around 13% over the past month and has a <a href="https://www.benzinga.com/quote/JHX">52-week high</a> of $41.98.</li>
<li>RSI Value: 70.37</li>
<li>JHX Price Action: Shares of James Hardie gained 0.6% to close at $35.55 on Thursday.</li>
</ul>
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Short Ideas

Top 3 Materials Stocks That May Implode This Month

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Shares of homebuilders, construction and household durables stocks are trading higher following a softer-than-expected May CPI Report. Also, the Fed left rates unchanged.

These&nbsp;10&nbsp;large-cap stocks were the worst performers last week. Are they in your portfolio?
<ol>
<li>National Grid Transco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGG#NYSE">NGG</a>) decreased 17.1% after the company reported an equity raise of £7 billion and a year-over-year <a href="https://www.benzinga.com//node/38991860" target="_blank" rel="noreferrer noopener">decrease in full-year revenue results</a>. </li>
<li>James Hardie Industries Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) shares declined 14.4% after the company reported <a href="https://www.benzinga.com//node/38929144" target="_blank" rel="noreferrer noopener">worse-than-expected Q4 financial results</a>.</li>
<li>KE Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEKE#NYSE">BEKE</a>) shares lost 14% in the last week after the company <a href="https://www.benzinga.com//node/38981059" target="_blank" rel="noreferrer noopener">reported Q1 financial results</a>.</li>
<li>JD.Com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) stock tumbled 13.70% after the company announced interim Q1 results and proposed an offering <a href="https://www.benzinga.com//node/38944001" target="_blank" rel="noreferrer noopener">of $1.5 billion convertible senior notes</a>.</li>
<li>XP Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XP#NASDAQ">XP</a>) shares dived 13.3% after the company reported <a href="https://www.benzinga.com//node/38950599" target="_blank" rel="noreferrer noopener">worse-than-expected Q1 EPS results</a>.</li>
<li>Nordson Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDSN#NASDAQ">NDSN</a>) stock decreased 12.3%  following mixed Q2 earnings and soft Q3 revenue guidance, and several <a href="https://www.benzinga.com//node/38966867" target="_blank" rel="noreferrer noopener">analysts slashed their forecasts</a>. </li>
<li>BeiGene, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGNE#NASDAQ">BGNE</a>) shares were down 11.6%.</li>
<li>Lululemon Athletica Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NYSE">LULU</a>) shares lost 11.3% in the last week following the <a href="https://www.benzinga.com//node/38962335">announcement of chief product officer</a> Sun Choe resigning from his role. The company said it plans to implement organizational changes.</li>
<li>Walgreens Boots Alliance, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) stock dropped 10.80% following the <a href="https://www.benzinga.com//node/38975615">disclosure of its sale</a> of Cencora, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COR#NYSE">COR</a>) shares for $400 million and reduced its ownership stake from 13% to 12%.</li>
<li>Li Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) shares tumbled 10.40% after the company reported <a href="https://www.benzinga.com//node/38915754">worse-than-expected Q1 results</a> on Monday and issued Q2 outlook.</li>
</ol>
Also Read: <a href="https://www.benzinga.com/news/large-cap/24/05/39022913/moderna-was-among-the-best-performing-large-cap-stocks-last-week-may-20-may-26-2024-are-they-in-yo">Moderna Was Among The Best Performing Large-Cap Stocks Last Week: Are They In Your Portfolio?</a>
Image: Pedro Alvarez from Pixabay

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BEKE

BGNE

LULU

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Lululemon Athletica Was Among The Worst-Performing Stocks Last Week (May 19-May 26, 2024): Are These 10 Large-Cap Stock Losers In Your Portfolio?

The most oversold stocks in the materials sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">James Hardie Industries plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>)</h3>
<ul>
<li>On May 20, James Hardie Industries reported worse-than-expected fourth-quarter financial results. James Hardie CEO Aaron Erter said, &#8220;Our team&#8217;s focus remains simple: working safely, partnering with our customers, managing decisively, and controlling what we can control. This focus has enabled us to deliver a strong fourth quarter and fiscal year for Adjusted Net Income.&#8221; The company's stock fell around 15% over the past five days and has a <a href="https://www.benzinga.com/quote/JHX">52-week low of $24.28</a>.</li>
<li>RSI Value: 28.97</li>
<li>JHX Price Action: Shares of James Hardie rose 2.2% to close at $31.21 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">O-I Glass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>)&nbsp;</h3>
<ul>
<li>On May 20, Owens-Brockway Glass Container priced private offering of $300 million 7.375% senior notes offering due 2032. The company's stock fell around 11% over the past five days. It <a href="https://www.benzinga.com/quote/OI">has a 52-week low</a> of $12.09.</li>
<li>RSI Value: 28.73</li>
<li>OI Price Action: Shares of O-I Glass fell 3.3% to close at $12.16 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Tredegar Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TG#NYSE">TG</a>)</h3>
<ul>
<li>On May 9, Tredegar posted a decline in quarterly sales. John Steitz, Tredegar&#8217;s president and chief executive officer, said, &#8220;During the first quarter of 2024, we recognized a meaningful profit from ongoing operations for the first time since the first quarter of last year. The bottom of the recent severe down cycle for Bonnell, which we believe was a residual impact of the pandemic and started in the second half of 2022, appears to have occurred in the third quarter of 2023.&#8221; The company's stock fell around 11% over the past five days and has a 52-week <a href="https://www.benzinga.com/quote/TG">low of $3.98</a>.</li>
<li>RSI Value: 29.36</li>
<li>TG Price Action: Shares of Tredegar fell 1.8% to close at $5.34 on Thursday.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/24/05/38984382/slb-first-solar-and-2-other-stocks-insiders-are-selling">SLB, First Solar And 2 Other Stocks Insiders Are Selling</a>

Long Ideas

Press Releases

Top 3 Materials Stocks That Are Set To Fly This Quarter

Shares of James Hardie Industries plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) fell sharply during Tuesday's session after the company reported worse-than-expected <a href="https://www.benzinga.com/quote/JHX/earnings">quarterly financial results</a>.
James Hardie Industries posted adjusted earnings of 40 cents per share, missing market expectations of 42 cents per share. The company's quarterly sales came in at $1.005 billion versus estimates of $1.009 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
JP Morgan analyst Al Harvey downgraded James Hardie Industries from Overweight to Neutral.
James Hardie Industries shares dipped 14.3% to $31.36 on Tuesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>MGO Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGOL#NASDAQ">MGOL</a>) shares jumped 194% to $0.6739 after the company posted first-quarter results.</li>
<li>Mangoceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGRX#NASDAQ">MGRX</a>) gained 121% to $0.5598 after the company announced the development of oral formulations of Semaglutide and Tirzepatide.</li>
<li>Biodexa Pharmaceuticals Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BDRX#NASDAQ">BDRX</a>) jumped 87% to $2.3750 after the company presented Phase 2 clinical trial results of its newly-licensed eRapa in familial adenomatous polyposis scheduled for presentation at the 2024 Digestive Disease Week Annual Meeting.</li>
<li>Meta Materials Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMAT#NASDAQ">MMAT</a>) gained 64.4% to $3.78 after the company late Monday announced an update on its investigation into potential naked short selling, which began in June 2023.</li>
<li>FLJ Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLJ#NASDAQ">FLJ</a>) jumped 60% to $1.2521.</li>
<li>AgriFORCE Growing Systems Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGRI#NASDAQ">AGRI</a>) shares climbed 41% to $0.1814 after jumping over 25% on Monday.</li>
<li>Edible Garden AG Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EDBL#NASDAQ">EDBL</a>) climbed 38.2% to $5.25 after jumping around 9% on Monday. The company, last week, reported first-quarter financial results.</li>
<li>Complete Solaria, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSLR#NASDAQ">CSLR</a>) gained 35.3% to $1.5828.</li>
<li>Fangdd Network Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUO#NASDAQ">DUO</a>) surged 28% to $1.4813.</li>
<li>Onfolio Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONFO#NASDAQ">ONFO</a>) rose 26% to $0.7801 following first-quarter results.</li>
<li>Xylo Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XYLO#NASDAQ">XYLO</a>) gained 21.3% to $2.3780. Xylo Technologies announced plans to acquire a leading AI technology company.</li>
<li>Ault Alliance, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AULT#NYSE">AULT</a>) rose 18% to $0.4630 after the company reported a year-over-year increase in first-quarter financial results.</li>
<li>Lichen China Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LICN#NASDAQ">LICN</a>) gained 15% to $1.77.</li>
<li>Waldencast plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WALD#NASDAQ">WALD</a>) gained 15% to $5.00 following first-quarter results.</li>
<li>Larimar Therapeutics, Inc.. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRMR#NASDAQ">LRMR</a>) rose 12.3% to $8.16 after the company announced that the FDA removed the partial clinical hold previously placed on the nomlabofusp clinical program.</li>
<li>Transcat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRNS#NASDAQ">TRNS</a>) rose 10.1% to $136.63 following better-than-expected quarterly earnings.</li>
<li>XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) gained 10% to $9.12 after the company reported better-than-expected first-quarter results and issued second-quarter guidance.</li>
<li>Bloom Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BE#NYSE">BE</a>) rose 9.7% to $14.18.</li>
<li>Allogene Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLO#NASDAQ">ALLO</a>) gained 8.5% to $2.8090 after falling over 6% on Monday.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Cheetah Net Supply Chain Service Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTNT#NASDAQ">CTNT</a>) fell 67% to $4.77 after jumping over 36% on Monday.</li>
<li>Greenwave Technology Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GWAV#NASDAQ">GWAV</a>) shares fell 60.5% to $0.0623 after the company reported a year-over-year decrease in first-quarter financial results. Also, the company announced a registered direct offering.</li>
<li>LuxUrban Hotels Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUXH#NASDAQ">LUXH</a>) fell 42.4% to $0.2585 after the company announced the pricing of its public offering of 30.50 million common shares at $0.25 per share.</li>
<li>Crown ElectroKinetics Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRKN#NASDAQ">CRKN</a>) dipped 33% to $0.1331.</li>
<li>American Oncology Network, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AONC#NASDAQ">AONC</a>) fell 28.5% to $2.00. American Oncology Network announced voluntary delisting from the Nasdaq.</li>
<li>MultiMetaVerse Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMV#NASDAQ">MMV</a>) dipped 28% to $0.9497. MultiMetaVerse, on Monday, signed a term sheet to acquire Bowong Technology.</li>
<li>Pineapple Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEGY#NASDAQ">PEGY</a>) shares fell 27.6% to $0.1371 after jumping 80% on Monday.</li>
<li>Rubicon Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBT#NYSE">RBT</a>) fell 27% to $0.2482 after the company reported a year-over-year decrease in first-quarter sales results.</li>
<li>Bruush Oral Care Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRSH#NASDAQ">BRSH</a>) dipped 26.6% to $0.1160.</li>
<li>iSun, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISUN#NASDAQ">ISUN</a>) shares fell 25.3% to $0.1250 after climbing around 15% on Monday.</li>
<li>NovaBay Pharmaceuticals, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBY#NYSE">NBY</a>) shares fell 24.9% to $0.1310 following a 47% surge on Monday. The company last week announced it launched new Avenova product bundles aimed at providing tailored, cost-effective relief for dry eye symptoms.</li>
<li>Akanda Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAN#NASDAQ">AKAN</a>) fell 24.4% to $0.1010.</li>
<li>Scorpius Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCPX#NYSE">SCPX</a>) shares fell 24.3% to $0.2574. Scorpius shares jumped around 55% on Monday after the company announced expansion in San Antonio with a new storage and testing facility.</li>
<li>Rubicon Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBT#NYSE">RBT</a>) shares dipped 24.1% to $0.2582 in pre-market trading after the company reported a year-over-year decrease in first-quarter sales results.</li>
<li>Faraday Future Intelligent Electric Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>) fell 22% to $1.3950.</li>
<li>Daré Bioscience, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DARE#NASDAQ">DARE</a>) tumbled 21.7% to $0.4775.</li>
<li>Peloton Interactive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTON#NASDAQ">PTON</a>) fell 15.7% to $3.2950 after the company announced it will offer $275 million aggregate principal amount of convertible senior notes in a private offering.</li>
<li>Zenvia Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZENV#NASDAQ">ZENV</a>) shares fell 15.2% to $3.25 after jumping over 67% on Monday.</li>
<li>Gaotu Techedu Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOTU#NYSE">GOTU</a>) shares declined 13.4% to $7.09 following results for the first quarter.</li>
<li>Oddity Tech Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODD#NASDAQ">ODD</a>) fell 12.5% to $35.88 following a short seller report.</li>
<li>Hesai Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSAI#NASDAQ">HSAI</a>) shares declined 12.2% to $4.62 following first-quarter results.</li>
<li>Forward Air Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWRD#NASDAQ">FWRD</a>) fell 11.3% to $11.97 after announcing leadership transition.</li>
<li>Palo Alto Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) fell 4.2% to $309.96. Palo Alto posted better-than-expected earnings for its third quarter. The company said it sees fourth-quarter adjusted earnings of $1.40 to $1.42 per share on total revenue of $2.15 billion to $2.17 billion.</li>
<li>Keysight Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEYS#NYSE">KEYS</a>) fell 10.6% to $142.78. Keysight Technologies posted better-than-expected second-quarter earnings on Monday. The company said it expects third-quarter revenue of $1.18 billion to $1.20 billion and adjusted earnings of $1.30 to $1.36 per share.</li>
<li>Applied Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) dipped 10.4% to $4.10.</li>
<li>A10 Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATEN#NYSE">ATEN</a>) fell 8.2% to $15.10.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) declined 7.6% to $21.38.</li>
<li>Nordson Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDSN#NASDAQ">NDSN</a>) fell 7.5% to $248.28 following mixed second-quarter earnings and soft third-quarter revenue guidance.</li>
<li>Amer Sports, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AS#NYSE">AS</a>) fell 7.4% to $14.83 after the company reported first-quarter earnings.</li>
<li>JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) shares declined 3.2% to $33.63 after the company reported interim first-quarter results and announced a proposed offering of $1.5 billion convertible senior notes.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/05/38940297/this-walt-disney-analyst-is-no-longer-bearish-here-are-top-5-upgrades-for-today">This Walt Disney Analyst Is No Longer Bearish; Here Are Top 5 Upgrades For Tuesday</a>

AGRI

AKAN

ALLO

AONC

APLD

ATEN

AULT

BDRX

BRSH

CRKN

CSLR

CTNT

DARE

EDBL

FFIE

FWRD

GSX Techedu Inc. American Depositary Shares

GOTU

GWAV

HSAI

ISUN

KEYS

LICN

Larimar Therapeutics, Inc. - Common Stock

LRMR

LUXH

MGOL

MGRX

MMAT

Eaton Vance Massachusetts Municipal Income Trust

ONFO

PANW

PEGY

PTON

SCPX

TRNS

WALD

XYLO

ZENV

Why James Hardie Industries Shares Are Trading Lower By Around 14%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

James Hardie Industries shares are trading lower after the company reported worse-than-expected Q4 financial results.

JP Morgan analyst Al Harvey downgrades James Hardie Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) from Overweight to Neutral.

Downgrades

Analyst Ratings

JP Morgan Downgrades James Hardie Industries to Neutral

Guidance&nbsp;for the full fiscal year 2025; includes:
<ul>
<li>North American volumes to be in the range of 2,950 million to 3,150 million standard feet vs FY24 3,054 million standard feet</li>
<li>North American EBIT margin to be in the range of&nbsp;29%&nbsp;to&nbsp;31%</li>
<li>Adjusted Interest, net: $25 million to $29 million vs FY24 $24.3 million</li>
<li>Adjusted Effective Tax Rate:&nbsp;23.5%&nbsp;to&nbsp;24.5%&nbsp;vs FY24&nbsp;23.0%</li>
<li>Adjusted Net Income to be in the range of $630 million to $700 million</li>
</ul>

James Hardie Industries Expects Q1 North American Volumes Of 745M-775M Standard Feet, Adjusted Net Income Of $155M - $175M

James Hardie Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) reported quarterly earnings of $0.40 per share which missed the analyst consensus estimate of $0.42 by 4.76 percent. The company reported quarterly sales of $1.005 billion which missed the analyst consensus estimate of $1.009 billion by 0.40 percent. This is a 9.50 percent increase over sales of $917.800 million the same period last year.

Earnings Misses

James Hardie Industries Q4 2024 Adj EPS $0.40 Misses $0.42 Estimate, Sales $1.005B Miss $1.009B Estimate

James Hardie Industries Says In Europe, Anticipate Overall Addressable Market To Be Down In FY25 Versus FY24, While Europe Building Products Segment Is Expected To Perform Above The Market; Fy25, We Have Adjusted Our Transfer Pricing On Intercompany Sale Of Product From U.S. To Europe

James Hardie Industries Says In Australia, Anticipates Addressable Underlying Housing Market Will Decrease In FY25 Versus FY24; Net Sales From Australian Business Are Expected To Trend Above The Average Growth Of Domestic Alterations And Additions And Single Family Detached Housing Markets

James Hardie Industries Says It Expects U.S. Residential End Markets To Be Down Slightly In FY25 Versus FY24; Expects Growth In New Construction To Be More Than Offset By Declines In R&R Activity Given Segment Mix

James Hardie Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) reported quarterly earnings of $1.61 per share which beat the analyst consensus estimate of $1.57 by 2.55 percent. The company reported quarterly sales of $3.936 billion which missed the analyst consensus estimate of $3.985 billion by 1.23 percent.

Earnings Beats

James Hardie Industries FY 2024 Adj EPS $1.61 Beats $1.57 Estimate, Sales $3.936B Miss $3.985B Estimate

The residential construction market is experiencing substantial growth due to rising urbanization, favorable mortgage conditions, and supportive government measures. Could it be worth adding Meritage Homes to one's portfolio in this dynamic environment? Let's find out... As housing demand soars, the residential construction sector in the United States is poised for significant growth in the coming years. In this dynamic landscape, keeping an eye on Meritage Homes Corporation (<a href="https://stocknews.com/stock/MTH/">MTH</a>) could be a strategic move. To evaluate its potential, let's delve more closely into current industry trends and MTH's role.
The residential construction industry is expanding robustly, driven by several key factors. Increasing population levels, urbanization, and shifting demographics fueling heightened demand for new housing. Additionally, a growing desire for modern, energy-efficient homes is growing, further accelerating the sector's expansion.
Recent developments have further supported this growth. Mortgage rates <a href="https://www.forbes.com/advisor/mortgages/mortgage-rates/#:~:text=Mortgage%20rates%20took%20a%20tumble%20this%20summer%2C%20hitting,we%20move%20through%20the%20second%20half%20of%202024.">dropped to their lowest levels</a> in nearly 15 months this summer, benefiting prospective buyers. Although rates remain elevated, the Federal Reserve has signaled a potential cut in its key interest rate, which could lead to a further decline in mortgage rates in the latter half of 2024.
Moreover, the industry receives substantial backing from the government. The Department of Housing and Urban Development (HUD) launched the $100 million Pathways to Removing Obstacles to Housing (PRO Housing) program to address barriers to affordable housing production.
In June, Vice President Harris announced the first grants from this program, providing <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/08/13/fact-sheet-biden-harris-administration-takes-new-actions-to-lower-housing-costs-by-cutting-red-tape-to-build-more-housing/">$85 million to over 20 cities and states</a> to overcome obstacles to building affordable housing.
In terms of industry performance, privately-owned housing completions in July reached a seasonally adjusted annual rate of 1,529,000, marking <a href="https://www.census.gov/construction/nrc/pdf/newresconst.pdf">a 13.8% increase</a> from July 2023. Single-family housing completions were at a rate of 1,054,000, up 0.5% from the revised June rate of 1,049,000.
Looking ahead, the residential real estate market in the United States is projected to reach a value of <a href="https://www.statista.com/outlook/fmo/real-estate/residential-real-estate/united-states">$106.70 trillion by 2024</a>. This projection reflects a steady annual growth rate of 3.6% from 2024 to 2029, with an anticipated market volume of $127.40 trillion by 2029.
Given these trends, MTH stands to benefit significantly. With a market capitalization of $6.53 billion, MTH is the fifth-largest homebuilder in the United States, specializing in designing and constructing single-family homes.
Its Homebuilding segment focuses on land acquisition, construction, marketing, and customer service, while the Financial Services segment offers essential services such as title, escrow, mortgage, and insurance.
MTH's shares have shown promising performance, increasing 19.5% over the past six months and 26.2% over the past year to close the last trading session at $179.76. Let's now explore the factors that might influence MTH's performance in the near term.
Recent Developments
On August 6, MTH entered into a multi-year exclusive<a href="https://www.prnewswire.com/news-releases/james-hardie-building-products-inc-announces-exclusive-product-deal-with-meritage-homes-302214820.html"> agreement with James Hardie Building Products Inc</a>., a subsidiary of James Hardie Industries plc (<a href="https://stocknews.com/stock/JHX/">JHX</a>), a North American leader in home-building products. The partnership builds on their existing relationship and expands their collaboration.
Under this agreement, Hardie&#xAE; siding and trim will be the standard for every new MTH home with hard siding across the United States through 2027. The standardization aims to enhance product consistency and quality in MTH's homes.
Moreover, the alliance is set to drive MTH's growth by reinforcing its commitment to premium materials. By standardizing Hardie&#xAE; products, MTH is poised to expand its market presence and solidify its reputation for high-quality home-building solutions.
Sound Historical Growth
Over the past five years, MTH's revenue has grown at a CAGR of 13.2%. Its operation income (EBIT) and total assets increased at CAGRs of 30.7% and 14.8%, respectively. In addition, the company's <a href="https://www.investopedia.com/terms/e/ebitda.asp">EBITDA</a> rose at a CAGR of 28.9%.
Moreover, during the same time frame, the company's net income and EPS grew at respective CAGRs of 32.4% and 34.3%.
Robust Financials
In the fiscal 2024 second quarter, which ended on June 30, MTH's homebuilding segment saw total closing revenue rise 8.1% year-over-year to $1.69 billion. Earnings before income taxes grew 24.1% to $297.36 million, and net earnings increased 23.9% to $231.56 million.
Earnings per common share also increased 25.7% year-over-year, reaching $6.31. Meanwhile, as of June 30, 2024, MTH's cash and cash equivalents totaled $992.92 million, up from $921.23 million on December 31, 2023.
Mixed Analyst Estimates
Analysts expect MTH's revenue for the fiscal third quarter (ending September 2024) to decrease 1.2% year-over-year to $1.59 billion. Similarly, its EPS for the same quarter is expected to decline 16.2% from the prior year's quarter to $5.01. Moreover, the company has surpassed the consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
Looking forward, for the fiscal year ending December 2024, Street expects MTH's revenue and EPS to increase 3.3% and 5.6% from the previous year to $6.32 billion and $21.04, respectively.
Furthermore, the company's revenue and EPS for the next fiscal year ending in December 2025 are expected to grow 6.1% and 3.4% year-over-year to $6.70 billion and $21.76, respectively.
Mixed Profitability
MTH's trailing-12-month gross profit margin of 26.01% is 29.5% lower than the 36.89% industry average. Its trailing-12-month levered FCF margin of negative 4.06% unfavorably compares to the industry average of 5.58%.
However, the company's trailing-12-month EBITDA margin of 16.38% is 43% more than the industry average of 11.45%. Similarly, its trailing-12-month net income margin of 12.98% is 184.02% higher than the industry average of 4.57%.
Also, the stock's trailing-12-month ROCE, ROTC, and ROTA of 18.36%, 11.03%, and 12.11% are 59.6%, 80.6%, and 186.8% higher than the industry averages of 11.51%, 6.11%, and 4.22%, respectively.
Discounted Valuation 
In terms of forward non-GAAP P/E, MTH is trading at 8.54x, 44.7% lower than the industry average of 15.45x. The stock's forward EV/Sales multiple of 1.09 is 10% lower than the industry average of 1.22x. Likewise, its forward EV/EBITDA of 6.63x is 32.4% lower than the industry average of 9.81x.
Moreover, MTH's forward Price/Book of 1.27x is 48.8% lower than the 2.47x industry average. Meanwhile, its forward Price/Cash flow of 8.25x is 15% lower than the sector average of 9.70x.
POWR Ratings Reflect Uncertainty
MTH's mixed fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of C, which translates to Neutral in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. MTH has achieved an A grade in Momentum, which is evident from its robust stock price performance. Currently, the stock is trading higher than its 50-day and 200-day moving averages, which stand at $175.90 and $164.52, respectively.
In addition, the stock has a C grade for Quality, which is justified by its mixed profitability metrics. The stock also has a C grade in Sentiment, consistent with its mixed analyst estimates. Within the B-rated <a href="https://stocknews.com/category/homebuilders/">Homebuilders</a> industry, MTH is ranked #14 out of 23 stocks.
Beyond what I have stated above, we have also given MTH grades for Growth, Value, and Stability. Get all MTH ratings <a href="https://stocknews.com/stock/MTH/">here</a>.
Bottom Line
The residential construction sector is on a robust growth trajectory, fueled by urbanization, favorable mortgage rates, and government incentives. MTH is strategically positioned to take advantage of this expansion, thanks to its valuable partnerships.
However, with MTH's profitability showing fluctuations and its 60-month beta at 1.80 indicating higher volatility, investors might consider waiting for a more optimal entry point before buying the stock.
How Does Meritage Homes Corporation (MTH) Stack Up Against Its Peers?
Given the current uncertainty around MTH's near-term prospects, its potential to outperform in the coming weeks and months may be less clear. However, there are other industry peers with much more impressive POWR Ratings.
So, consider these three A (Strong Buy) and B (Buy) rated stocks from the Homebuilders industry: NVR, Inc. (<a href="https://stocknews.com/stock/NVR/">NVR</a>), M/I Homes, Inc. (<a href="https://stocknews.com/stock/MHO/">MHO</a>), and Tri Pointe Homes, Inc. (<a href="https://stocknews.com/stock/TPH/">TPH</a>). To explore more A &amp; B-rated homebuilding stocks, click <a href="https://stocknews.com/category/homebuilders/">here</a>.
What To Do Next?
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MTH shares were unchanged in premarket trading Monday. Year-to-date, MTH has gained 4.14%, versus a 17.36% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/mth-nvr-mho-tph-jhx-should-you-buy-meritage-homes-as-housing-demand-soars/>Should You Buy Meritage Homes as Housing Demand Soars?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Should You Buy Meritage Homes as Housing Demand Soars?

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