CRH (NYSE:CRH) Announces Quarterly Earnings Results

CRH (NYSE:CRH) released its quarterly earnings results on Wednesday. The construction company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.68), FiscalAI reports. CRH had a return on equity of 16.25% and a net margin of 9.30%.The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $11.15 billion.

CRH Stock Up 2.3%

Shares of CRH stock traded up $2.84 on Wednesday, reaching $124.86. 5,563,405 shares of the stock were exchanged, compared to its average volume of 4,796,733. The stock has a market cap of $83.69 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 1.85 and a beta of 1.33. The firm has a 50 day moving average of $125.29 and a two-hundred day moving average of $118.25. CRH has a 1-year low of $76.75 and a 1-year high of $131.55.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC grew its stake in CRH by 158.5% during the first quarter. NewEdge Advisors LLC now owns 8,670 shares of the construction company’s stock worth $763,000 after buying an additional 5,316 shares during the period. Empowered Funds LLC boosted its position in CRH by 5.3% during the 1st quarter. Empowered Funds LLC now owns 13,178 shares of the construction company’s stock worth $1,159,000 after purchasing an additional 658 shares during the period. Sivia Capital Partners LLC increased its holdings in CRH by 58.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,279 shares of the construction company’s stock valued at $393,000 after purchasing an additional 1,579 shares in the last quarter. Sei Investments Co. raised its position in CRH by 18.9% in the second quarter. Sei Investments Co. now owns 228,288 shares of the construction company’s stock valued at $20,957,000 after purchasing an additional 36,238 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of CRH by 0.7% during the second quarter. Treasurer of the State of North Carolina now owns 316,818 shares of the construction company’s stock worth $29,084,000 after purchasing an additional 2,348 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CRH. Longbow Research began coverage on shares of CRH in a research note on Tuesday, December 16th. They issued a “buy” rating and a $160.00 target price for the company. Wells Fargo & Company lowered their price target on shares of CRH from $138.00 to $133.00 and set an “equal weight” rating for the company in a report on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of CRH in a research report on Monday, December 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CRH in a research note on Monday, December 22nd. Finally, Citigroup boosted their price target on CRH from $142.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CRH currently has an average rating of “Moderate Buy” and an average target price of $135.87.

CRH Company Profile

CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.

CRH’s core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.