Owens Corning (OC) Expected to Announce Quarterly Earnings on Monday

Owens Corning (NYSE:OC) is projected to post its quarterly earnings results before the market opens on Monday, February 24th. Analysts expect Owens Corning to post earnings of $2.92 per share and revenue of $2.77 billion for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Owens Corning Stock Up 0.8 %

OC opened at $179.44 on Monday. The business has a 50 day moving average price of $179.67 and a two-hundred day moving average price of $178.67. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The company has a market cap of $15.39 billion, a PE ratio of 15.27, a P/E/G ratio of 2.01 and a beta of 1.46. Owens Corning has a 52 week low of $138.70 and a 52 week high of $214.53.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.54%. Owens Corning’s dividend payout ratio is currently 23.49%.

Analyst Upgrades and Downgrades

OC has been the subject of several recent research reports. The Goldman Sachs Group raised their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Wells Fargo & Company upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $195.00 to $225.00 in a report on Tuesday, December 17th. Citigroup reduced their price objective on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and an average target price of $206.91.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.