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Earnings Flashback: Since Reporting Quarterly Results 2 Weeks Ago Texas Industries Is Up 5.6% (TXI)

Published on Sat, 01/26/2013 - 09:08
By Robert Cotter

When Texas Industries (NYSE:TXI) reported earnings two weeks ago on January 9th, 2013, analysts, on average, expected the company to report a loss of $0.31 on sales of $166.0 million. Texas Industries actually reported a loss of $0.36 per share on sales of $167.7 million, missing EPS estimates by $0.05 and beating revenue estimates by $1.7 million. Shares of Texas Industries have climbed from $55.97 to $59.12, representing a gain of 5.6% since the company reported earnings 17 days ago.

Texas Industries (NYSE:TXI) is currently priced 12.9% above its average consensus analyst price target of $51.50. The stock should discover initial support at its 50-day moving average (MA) of $50.71 and subsequent support at its 200-day MA of $41.82.

Texas Industries share prices have moved between a 52-week high of $59.21 and a 52-week low of $30.10 and closed Thursday at 96% above that low price at $59.12 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.2% while the 200-day MA has risen 1.2%.

Texas Industries, Inc. and its subsidiaries supply construction materials such as cement, aggregate, and concrete products. The Company's customers include the construction, original equipment manufacturers, tool, and country goods markets.

By Robert Cotter
rcotter@fnno.com

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