Norbord Inc. (OSB) Receives Average Rating of “Buy” from Analysts
Norbord Inc. (NYSE:OSB) has earned an average rating of “Buy” from the eight research firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $34.67.
A number of research analysts have commented on the stock. TD Securities lifted their price objective on shares of Norbord from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, July 31st. BMO Capital Markets lifted their price objective on shares of Norbord from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 31st. Credit Suisse Group raised shares of Norbord from a “neutral” rating to an “outperform” rating in a report on Monday, July 31st. Zacks Investment Research downgraded shares of Norbord from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, ValuEngine raised shares of Norbord from a “buy” rating to a “strong-buy” rating in a report on Friday, June 30th.
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Norbord (NYSE OSB) traded down 0.18% during midday trading on Tuesday, reaching $32.67. 1,806 shares of the company’s stock traded hands. Norbord has a 1-year low of $21.40 and a 1-year high of $35.65. The company has a market capitalization of $2.81 billion, a PE ratio of 10.75 and a beta of 3.95. The firm’s 50 day moving average price is $32.50 and its 200-day moving average price is $29.79.
Norbord (NYSE:OSB) last posted its quarterly earnings data on Friday, July 28th. The construction company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by $0.01. The business had revenue of $536 million during the quarter. Norbord had a net margin of 13.52% and a return on equity of 37.87%. Equities analysts expect that Norbord will post $3.74 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, September 1st will be issued a $0.398 dividend. This is an increase from Norbord’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.59 annualized dividend and a dividend yield of 4.86%. Norbord’s payout ratio is presently 28.95%.
Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in Norbord during the fourth quarter worth approximately $147,000. Legal & General Group Plc increased its stake in Norbord by 4.2% in the second quarter. Legal & General Group Plc now owns 4,889 shares of the construction company’s stock worth $152,000 after buying an additional 198 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Norbord during the first quarter worth approximately $204,000. Parametric Portfolio Associates LLC bought a new stake in Norbord during the second quarter worth approximately $205,000. Finally, Comerica Bank bought a new stake in Norbord during the second quarter worth approximately $233,000. 28.51% of the stock is currently owned by hedge funds and other institutional investors.
Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial customers 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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