CIBC Cuts Norbord (OSB) Price Target to C$40.00

Norbord (TSE:OSB) had its price objective reduced by CIBC from C$41.00 to C$40.00 in a research note published on Tuesday morning.

Several other equities analysts have also weighed in on OSB. Raymond James reaffirmed a strong-buy rating and issued a C$60.00 price objective on shares of Norbord in a research note on Friday, November 2nd. Seaport Global Securities reaffirmed a buy rating on shares of Norbord in a research note on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Norbord presently has an average rating of Buy and an average price target of C$46.88.

TSE OSB opened at C$35.39 on Tuesday. Norbord has a 1-year low of C$31.87 and a 1-year high of C$58.92. The company has a debt-to-equity ratio of 45.52, a quick ratio of 1.80 and a current ratio of 2.69.

Norbord (TSE:OSB) last released its quarterly earnings data on Thursday, November 1st. The company reported C$1.84 earnings per share for the quarter, beating the consensus estimate of C$1.29 by C$0.55. The firm had revenue of C$836.42 million during the quarter, compared to analyst estimates of C$789.49 million. As a group, sell-side analysts predict that Norbord will post 3.04999991812659 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Saturday, December 1st will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 6.78%. The ex-dividend date is Thursday, November 29th. Norbord’s dividend payout ratio (DPR) is presently 75.69%.

In related news, insider Peter Cornelius Wijnbergen sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of C$52.50, for a total transaction of C$183,750.00.

About Norbord

Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial manufacturers primarily in North America and Europe. The company offers oriented strand boards for use in sheathing, flooring, and roofing in home construction applications; particleboards that are used in flooring and other construction applications; and medium density fiberboards for use in cabinet doors, mouldings, and interior wall paneling applications, as well as related value-added products for use in the construction of new homes, and renovation and repair of existing structures.

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Analyst Recommendations for Norbord (TSE:OSB)

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