Why James Hardie Shares Are Dropping Today
James Hardie Industries (NYSE: JHX) is feeling the pressure from a difficult housing cycle. Shares of the building materials manufacturer traded down 15% as of 1 p.m. ET Tuesday following the release of the company's latest quarterly report.
James Hardie is an Australian manufacturer of construction materials best known for its Hardie Board fiber-cement house siding. The company earned $0.40 in the quarter on revenue of $1 billion, or about $10 million less than the analyst consensus estimate.
For its full fiscal year ending March 31, James Hardie saw sales grow by 4%.
Source Fool.com
