James Hardie Stock Rises 9% On Strong Q2 Sales Outlook

(RTTNews) - James Hardie Industries plc (JHX) climbed 8.44 percent, gaining $1.69 to $21.78 on Tuesday, after forecasting second-quarter sales between $1.29 billion and $1.30 billion, up from $960.8 million a year earlier.

The stock is currently trading at $21.85, compared with a previous close of $20.09 on the New York Stock Exchange. Shares opened at $22.05 and have traded between $21.61 and $22.72 so far today, with volume of 8.3 million shares, slightly above the average of 7.9 million.

James Hardie's stock has fluctuated between $17.85 and $37.77 over the last 52 weeks, and today's increase reflects investor confidence over stronger sales momentum in spite of somewhat lower earnings guidance.

Additionally, the company anticipated adjusted earnings between $151 million and $157 million, up from $157 million the previous year, and adjusted EPS between $0.26 and $0.27, up from $0.36.