Owens Corning (OC) Earning Somewhat Favorable Press Coverage, Report Finds
Media headlines about Owens Corning (NYSE:OC) have trended somewhat positive this week, according to Accern. Accern ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Owens Corning earned a coverage optimism score of 0.24 on Accern’s scale. Accern also assigned news headlines about the construction company an impact score of 44.4727077621841 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the news headlines that may have effected Accern Sentiment Analysis’s scoring:
- Owens Corning Inc New (OC) Reaches New 52-Week High (iphonefresh.com)
- Owens Corning Inc New (OC) Reached a 52-Week High (techkenyot.com)
- Owens Corning Stock Could Soar on Home Insulation Demand in Houston (finance.yahoo.com)
- Zacks: Analysts Anticipate Owens Corning Inc (OC) Will Announce Quarterly Sales of $1.63 Billion (americanbankingnews.com)
- Short Interest in Owens Corning Inc (OC) Grows By 54.4% (americanbankingnews.com)
A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of Owens Corning from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $68.00 to $83.00 in a research note on Wednesday. MKM Partners upgraded shares of Owens Corning from a “sell” rating to a “neutral” rating and increased their price objective for the company from $47.00 to $62.00 in a research note on Thursday, July 27th. FBR & Co increased their price objective on shares of Owens Corning from $63.00 to $70.00 and gave the company a “mkt perform” rating in a research note on Thursday, July 27th. BidaskClub upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Barclays PLC increased their price objective on shares of Owens Corning from $64.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 28th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Owens Corning has a consensus rating of “Buy” and an average target price of $71.15.
Owens Corning (OC) opened at 74.00 on Friday. The stock has a market cap of $8.23 billion, a PE ratio of 21.26 and a beta of 1.11. Owens Corning has a 12-month low of $46.45 and a 12-month high of $74.49. The firm has a 50 day moving average of $67.83 and a 200-day moving average of $63.58.
Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, July 26th. The construction company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.08 by $0.12. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. Owens Corning’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts expect that Owens Corning will post $4.28 earnings per share for the current year.
In related news, VP Kelly Schmidt sold 1,462 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $70.35, for a total value of $102,851.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James J. Mcmonagle sold 2,000 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $64.60, for a total transaction of $129,200.00. Following the completion of the sale, the director now owns 50,906 shares of the company’s stock, valued at approximately $3,288,527.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,031 shares of company stock valued at $6,118,197. 1.80% of the stock is owned by insiders.
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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