USG Corporation (USG) Rating Lowered to Hold at SunTrust Banks, Inc.
USG Corporation (NYSE:USG) was downgraded by analysts at SunTrust Banks, Inc. from a “buy” rating to a “hold” rating in a note issued to investors on Monday. They currently have a $33.00 price target on the construction company’s stock. SunTrust Banks, Inc.’s price objective would suggest a potential upside of 3.38% from the stock’s previous close. SunTrust Banks also issued estimates for USG Corporation’s Q3 2017 earnings at $0.42 EPS, Q4 2017 earnings at $0.35 EPS, FY2017 earnings at $1.58 EPS, Q2 2018 earnings at $0.56 EPS, Q3 2018 earnings at $0.56 EPS, Q4 2018 earnings at $0.45 EPS and FY2018 earnings at $1.98 EPS. The analysts noted that the move was a valuation call.
A number of other brokerages also recently issued reports on USG. Jefferies Group LLC reaffirmed a “hold” rating on shares of USG Corporation in a report on Wednesday, July 19th. CL King lowered shares of USG Corporation from a “strong-buy” rating to a “neutral” rating in a research note on Monday, July 24th. Stifel Nicolaus reissued a “hold” rating and set a $31.00 price objective (up from $28.00) on shares of USG Corporation in a report on Monday, September 18th. ValuEngine cut shares of USG Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Finally, TheStreet downgraded shares of USG Corporation from a “b” rating to a “c+” rating in a research report on Thursday, August 17th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $30.46.
Shares of USG Corporation (NYSE USG) opened at 31.92 on Monday. USG Corporation has a 12 month low of $23.71 and a 12 month high of $34.67. The stock’s 50 day moving average price is $29.76 and its 200 day moving average price is $29.63. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 10.24 and a beta of 1.00.
USG Corporation (NYSE:USG) last announced its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.07). The firm had revenue of $811.00 million for the quarter, compared to the consensus estimate of $809.44 million. USG Corporation had a net margin of 14.94% and a return on equity of 13.57%. USG Corporation’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the business earned $0.46 EPS. Analysts expect that USG Corporation will post $1.67 EPS for the current year.
In other news, insider Dominic A. Dannessa sold 5,000 shares of the company’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $32.41, for a total value of $162,050.00. Following the completion of the sale, the insider now directly owns 61,713 shares in the company, valued at approximately $2,000,118.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.67% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in USG. BlackRock Inc. grew its holdings in USG Corporation by 14,864.0% during the first quarter. BlackRock Inc. now owns 4,036,547 shares of the construction company’s stock valued at $128,363,000 after purchasing an additional 4,009,572 shares during the period. Bank of America Corp DE increased its position in USG Corporation by 95.8% in the first quarter. Bank of America Corp DE now owns 3,579,696 shares of the construction company’s stock worth $113,834,000 after buying an additional 1,751,530 shares in the last quarter. Fairfax Financial Holdings Ltd Can increased its position in USG Corporation by 335.8% in the first quarter. Fairfax Financial Holdings Ltd Can now owns 1,530,522 shares of the construction company’s stock worth $48,671,000 after buying an additional 1,179,300 shares in the last quarter. Macquarie Group Ltd. increased its position in USG Corporation by 94.2% in the first quarter. Macquarie Group Ltd. now owns 2,086,225 shares of the construction company’s stock worth $66,342,000 after buying an additional 1,011,813 shares in the last quarter. Finally, Janus Capital Management LLC increased its position in USG Corporation by 1,445.9% in the first quarter. Janus Capital Management LLC now owns 724,146 shares of the construction company’s stock worth $23,028,000 after buying an additional 677,304 shares in the last quarter. Institutional investors own 87.00% of the company’s stock.
USG Corporation Company Profile
USG Corporation, through its subsidiaries, is a manufacturer and distributor of building materials. The Company’s segments include Gypsum, Ceilings and USG Boral Building Products (UBBP). It produces a range of products for use in new residential, new nonresidential, and residential and nonresidential repair and remodel construction, as well as products used in certain industrial processes.
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