Analysts predict that Owens Corning Inc (NYSE:OC) will report earnings per share of $1.01 for the current quarter, Zacks reports. Eight analysts have made estimates for Owens Corning’s earnings. The highest EPS estimate is $1.08 and the lowest is $0.97. Owens Corning posted earnings of $0.72 per share in the same quarter last year, which would suggest a positive year over year growth rate of 40.3%. The business is expected to issue its next quarterly earnings results on Wednesday, February 14th.
On average, analysts expect that Owens Corning will report full year earnings of $4.32 per share for the current fiscal year, with EPS estimates ranging from $4.25 to $4.39. For the next fiscal year, analysts forecast that the firm will post earnings of $5.08 per share, with EPS estimates ranging from $4.65 to $5.60. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Owens Corning.
Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.01). The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.09 EPS.
Several analysts recently commented on the company. Bank of America Corporation raised their price objective on Owens Corning from $84.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday. Stifel Nicolaus reaffirmed a “buy” rating and set a $83.00 price objective on shares of Owens Corning in a research note on Friday, July 28th. Citigroup Inc. reaffirmed a “sell” rating and set a $69.00 price objective (up previously from $49.00) on shares of Owens Corning in a research note on Tuesday, October 3rd. BidaskClub raised Owens Corning from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $79.00 price target on shares of Owens Corning in a research note on Friday, July 28th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $78.20.
Shares of Owens Corning (NYSE:OC) traded up $1.84 during trading on Tuesday, reaching $85.63. The company had a trading volume of 1,875,570 shares, compared to its average volume of 1,013,797. The firm has a market cap of $9,320.00, a P/E ratio of 20.56, a PEG ratio of 1.44 and a beta of 1.08. Owens Corning has a twelve month low of $50.77 and a twelve month high of $85.76. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 0.99.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 2nd. Stockholders of record on Monday, October 16th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, October 13th. Owens Corning’s dividend payout ratio is presently 23.88%.
In other news, VP Ava Harter sold 487 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $81.96, for a total transaction of $39,914.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director W Howard Morris sold 2,026 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $81.95, for a total value of $166,030.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,779 shares of company stock valued at $14,735,728. Corporate insiders own 1.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in OC. Investec Asset Management LTD acquired a new stake in shares of Owens Corning in the third quarter valued at approximately $75,591,000. PGGM Investments acquired a new stake in shares of Owens Corning in the second quarter valued at approximately $26,366,000. Boston Partners acquired a new position in Owens Corning during the second quarter valued at approximately $26,195,000. Allianz Asset Management GmbH raised its position in Owens Corning by 22.4% during the third quarter. Allianz Asset Management GmbH now owns 1,798,466 shares of the construction company’s stock valued at $139,112,000 after purchasing an additional 328,726 shares in the last quarter. Finally, FMR LLC raised its position in Owens Corning by 118.4% during the second quarter. FMR LLC now owns 572,911 shares of the construction company’s stock valued at $38,339,000 after purchasing an additional 310,559 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.
About Owens Corning
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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