Equities analysts expect Owens Corning Inc (NYSE:OC) to report earnings per share of $1.26 for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Owens Corning’s earnings, with the lowest EPS estimate coming in at $1.17 and the highest estimate coming in at $1.35. Owens Corning posted earnings per share of $1.09 during the same quarter last year, which would indicate a positive year over year growth rate of 15.6%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that Owens Corning will report full-year earnings of $4.28 per share for the current year, with EPS estimates ranging from $4.17 to $4.35. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.90 per share, with EPS estimates ranging from $4.48 to $5.30. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Owens Corning.
Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.12. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business posted $1.29 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis.
A number of equities research analysts recently commented on OC shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $71.00 price objective on shares of Owens Corning in a report on Monday, June 19th. Instinet reiterated a “buy” rating and issued a $74.00 price objective on shares of Owens Corning in a report on Thursday, June 1st. Stifel Nicolaus upped their price objective on Owens Corning from $64.00 to $72.00 and gave the company a “buy” rating in a report on Monday, May 1st. Jefferies Group LLC upped their price objective on Owens Corning from $71.00 to $72.00 and gave the company a “buy” rating in a report on Friday, April 28th. Finally, BidaskClub upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $70.53.
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In other Owens Corning news, Director James J. Mcmonagle sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $64.60, for a total value of $129,200.00. Following the sale, the director now owns 50,906 shares in the company, valued at $3,288,527.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Arnaud Genis sold 21,544 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $65.44, for a total value of $1,409,839.36. Following the completion of the sale, the insider now owns 80,143 shares in the company, valued at approximately $5,244,557.92. The disclosure for this sale can be found here. Insiders sold 40,144 shares of company stock worth $2,654,227 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Teachers Advisors LLC raised its position in shares of Owens Corning by 2.8% in the second quarter. Teachers Advisors LLC now owns 469,294 shares of the construction company’s stock worth $31,405,000 after buying an additional 12,763 shares during the period. Seven Eight Capital LP raised its position in shares of Owens Corning by 202.2% in the second quarter. Seven Eight Capital LP now owns 14,199 shares of the construction company’s stock worth $950,000 after buying an additional 9,500 shares during the period. Raymond James Trust N.A. raised its position in shares of Owens Corning by 0.4% in the second quarter. Raymond James Trust N.A. now owns 7,114 shares of the construction company’s stock worth $476,000 after buying an additional 26 shares during the period. Riverhead Capital Management LLC raised its position in shares of Owens Corning by 14.0% in the second quarter. Riverhead Capital Management LLC now owns 105,021 shares of the construction company’s stock worth $7,028,000 after buying an additional 12,870 shares during the period. Finally, Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Owens Corning during the second quarter worth $228,000.
Shares of Owens Corning (OC) traded down 1.78% on Thursday, reaching $67.21. The company had a trading volume of 526,478 shares. Owens Corning has a one year low of $46.45 and a one year high of $68.88. The company has a 50-day moving average price of $66.52 and a 200-day moving average price of $62.02. The firm has a market cap of $7.47 billion, a P/E ratio of 19.31 and a beta of 1.11.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $0.80 annualized dividend and a yield of 1.19%. Owens Corning’s dividend payout ratio is 23.05%.
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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