Q2 2018 Earnings Estimate for Owens Corning Inc (OC) Issued By SunTrust Banks
Owens Corning Inc (NYSE:OC) – Stock analysts at SunTrust Banks raised their Q2 2018 earnings per share estimates for Owens Corning in a research report issued to clients and investors on Monday. SunTrust Banks analyst K. Hughes now anticipates that the construction company will post earnings per share of $1.49 for the quarter, up from their previous estimate of $1.47. SunTrust Banks currently has a “Hold” rating and a $85.00 price target on the stock. SunTrust Banks also issued estimates for Owens Corning’s Q3 2018 earnings at $1.59 EPS, Q4 2018 earnings at $1.16 EPS and FY2018 earnings at $5.02 EPS.
Several other research firms have also weighed in on OC. BidaskClub upgraded shares of Owens Corning from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Credit Suisse Group lifted their target price on shares of Owens Corning from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, November 17th. Stifel Nicolaus restated a “buy” rating and set a $83.00 target price on shares of Owens Corning in a report on Friday, September 1st. Barclays PLC set a $75.00 price objective on shares of Owens Corning and gave the stock a “hold” rating in a report on Thursday, October 26th. Finally, Royal Bank Of Canada boosted their price objective on shares of Owens Corning from $79.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $78.70.
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Shares of Owens Corning (OC) traded up $1.73 during midday trading on Wednesday, hitting $86.98. 1,394,100 shares of the stock traded hands, compared to its average volume of 1,017,912. Owens Corning has a one year low of $50.77 and a one year high of $87.49. The stock has a market cap of $9,483.29, a PE ratio of 21.21, a PEG ratio of 1.28 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 0.99.
Owens Corning (NYSE:OC) last released its earnings results on Wednesday, October 25th. The construction company reported $1.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.01). The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 earnings per share.
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Owens Corning by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 10,562,420 shares of the construction company’s stock worth $706,837,000 after acquiring an additional 190,866 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Owens Corning by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,666,185 shares of the construction company’s stock valued at $245,337,000 after purchasing an additional 27,809 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Owens Corning by 22.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,798,466 shares of the construction company’s stock valued at $139,112,000 after purchasing an additional 328,726 shares during the last quarter. LSV Asset Management lifted its holdings in Owens Corning by 21.2% during the 2nd quarter. LSV Asset Management now owns 1,680,100 shares of the construction company’s stock valued at $112,432,000 after purchasing an additional 294,400 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Owens Corning by 1.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,401,027 shares of the construction company’s stock valued at $93,757,000 after purchasing an additional 17,494 shares during the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Kelly Schmidt sold 1,462 shares of the firm’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 document filed with the SEC, which is available through this hyperlink. Also, insider Arnaud Genis sold 6,000 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $70.75, for a total transaction of $424,500.00. Following the completion of the transaction, the insider now owns 58,374 shares in the company, valued at $4,129,960.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 300,379 shares of company stock worth $23,405,256. 1.80% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 2nd. Stockholders of record on Monday, October 16th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, October 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.92%. Owens Corning’s dividend payout ratio (DPR) is 23.88%.
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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