Wall Street analysts forecast that Owens Corning (NYSE:OC) will post earnings per share (EPS) of $0.94 for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Owens Corning’s earnings, with the highest EPS estimate coming in at $1.04 and the lowest estimate coming in at $0.82. Owens Corning posted earnings of $0.85 per share during the same quarter last year, which would indicate a positive year over year growth rate of 10.6%. The business is scheduled to issue its next quarterly earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that Owens Corning will report full-year earnings of $5.66 per share for the current fiscal year, with EPS estimates ranging from $5.07 to $5.95. For the next year, analysts expect that the business will post earnings of $6.61 per share, with EPS estimates ranging from $5.98 to $6.90. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Owens Corning.
Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, February 21st. The construction company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.07. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.52 billion. Owens Corning had a net margin of 4.53% and a return on equity of 12.26%. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 EPS.
Several analysts have recently weighed in on the stock. Credit Suisse Group reiterated an “outperform” rating and issued a $110.00 price objective (up previously from $95.00) on shares of Owens Corning in a research note on Monday, January 22nd. They noted that the move was a valuation call. KeyCorp reiterated a “buy” rating and issued a $115.00 target price on shares of Owens Corning in a research note on Friday, January 12th. Zacks Investment Research upgraded shares of Owens Corning from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Thursday, January 18th. Zelman & Associates lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Finally, Seaport Global Securities upped their target price on shares of Owens Corning from $90.00 to $107.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $87.95.
In other Owens Corning news, CFO Michael C. Mcmurray sold 18,000 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $90.78, for a total transaction of $1,634,040.00. Following the sale, the chief financial officer now directly owns 52,228 shares of the company’s stock, valued at $4,741,257.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James J. Mcmonagle sold 4,136 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $87.20, for a total transaction of $360,659.20. Following the sale, the director now directly owns 47,925 shares in the company, valued at $4,179,060. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,820 shares of company stock worth $2,321,249. Insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its holdings in Owens Corning by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 3,689 shares of the construction company’s stock valued at $247,000 after purchasing an additional 304 shares during the last quarter. Worth Venture Partners LLC increased its position in shares of Owens Corning by 20.7% during the fourth quarter. Worth Venture Partners LLC now owns 3,320 shares of the construction company’s stock valued at $306,000 after buying an additional 570 shares during the period. Penserra Capital Management LLC increased its position in shares of Owens Corning by 18.6% during the fourth quarter. Penserra Capital Management LLC now owns 3,990 shares of the construction company’s stock valued at $366,000 after buying an additional 627 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Owens Corning by 2.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,472 shares of the construction company’s stock valued at $1,738,000 after buying an additional 632 shares during the period. Finally, ETRADE Capital Management LLC increased its position in shares of Owens Corning by 5.4% during the fourth quarter. ETRADE Capital Management LLC now owns 12,534 shares of the construction company’s stock valued at $1,152,000 after buying an additional 639 shares during the period. 93.65% of the stock is currently owned by institutional investors and hedge funds.
Owens Corning (NYSE OC) traded down $0.13 during trading hours on Friday, hitting $84.90. 921,886 shares of the stock traded hands, compared to its average volume of 1,121,414. The company has a market cap of $9,487.32, a price-to-earnings ratio of 33.29, a P/E/G ratio of 1.02 and a beta of 0.98. The company has a quick ratio of 0.99, a current ratio of 1.55 and a debt-to-equity ratio of 0.57. Owens Corning has a 12 month low of $57.36 and a 12 month high of $96.52.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Friday, March 9th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.99%. The ex-dividend date is Thursday, March 8th. Owens Corning’s dividend payout ratio (DPR) is presently 32.94%.
Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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