Norbord (NYSE:OSB) Lifted to “Hold” at Zacks Investment Research
According to Zacks, “Norbord Inc. is a producer of wood-based panels. It operates primarily in the United States, Europe and Canada. Norbord Inc. is headquartered in Toronto, Canada. “
Several other equities analysts have also commented on OSB. CIBC upped their price target on shares of Stella-Jones from C$51.00 to C$53.00 in a research report on Tuesday, May 7th. Raymond James set a $60.00 price target on shares of Banner and gave the stock a buy rating in a research report on Friday, May 3rd. Royal Bank of Canada reaffirmed a sector perform rating and set a GBX 485 ($6.34) price target on shares of in a research report on Tuesday, July 9th. BMO Capital Markets reaffirmed a hold rating and set a $9.50 price target on shares of Vicon Industries in a research report on Friday, June 14th. Finally, ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $36.29.
Norbord (NYSE:OSB) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.06). Norbord had a return on equity of 32.42% and a net margin of 11.92%. The company had revenue of $476.00 million for the quarter, compared to analyst estimates of $462.00 million. Sell-side analysts anticipate that Norbord will post 1.66 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Saturday, June 1st were given a $0.299 dividend. This represents a $1.20 annualized dividend and a dividend yield of 5.08%. The ex-dividend date was Thursday, May 30th. Norbord’s payout ratio is currently 25.00%.
Several institutional investors have recently added to or reduced their stakes in the company. Letko Brosseau & Associates Inc. increased its position in shares of Norbord by 0.9% in the first quarter. Letko Brosseau & Associates Inc. now owns 5,223,949 shares of the construction company’s stock worth $143,977,000 after acquiring an additional 46,005 shares in the last quarter. Norges Bank acquired a new stake in Norbord during the 4th quarter valued at $37,815,000. TD Asset Management Inc. grew its holdings in Norbord by 21.1% during the 1st quarter. TD Asset Management Inc. now owns 806,301 shares of the construction company’s stock valued at $22,222,000 after purchasing an additional 140,535 shares in the last quarter. Pictet Asset Management Ltd. grew its holdings in Norbord by 13.3% during the 1st quarter. Pictet Asset Management Ltd. now owns 720,784 shares of the construction company’s stock valued at $19,866,000 after purchasing an additional 84,467 shares in the last quarter. Finally, APG Asset Management N.V. grew its holdings in Norbord by 25.0% during the 4th quarter. APG Asset Management N.V. now owns 701,000 shares of the construction company’s stock valued at $16,298,000 after purchasing an additional 140,300 shares in the last quarter. 79.10% of the stock is owned by institutional investors.
Norbord Company Profile
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.
Recommended Story: How is a management fee different from a performance fee?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Norbord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norbord and related companies with MarketBeat.com's FREE daily email newsletter.