Norbord Inc. (NYSE:OSB) issued its earnings results on Friday, October 27th. The construction company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.02, MarketWatch Earnings reports. Norbord had a return on equity of 42.38% and a net margin of 16.33%. The firm had revenue of $578.00 million for the quarter.
Norbord (NYSE:OSB) opened at $35.23 on Monday. The stock has a market capitalization of $3,043.87, a price-to-earnings ratio of 9.50 and a beta of 3.87. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.61. Norbord has a 12-month low of $21.40 and a 12-month high of $41.88.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, December 1st will be issued a dividend of $0.467 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.87 dividend on an annualized basis and a yield of 5.30%. This is a positive change from Norbord’s previous quarterly dividend of $0.40. Norbord’s dividend payout ratio is currently 40.77%.
OSB has been the subject of several recent analyst reports. BMO Capital Markets set a $28.00 price target on Norbord and gave the company a “hold” rating in a report on Friday, July 28th. Credit Suisse Group upgraded Norbord from a “neutral” rating to an “outperform” rating in a report on Monday, July 31st. TD Securities boosted their price target on Norbord from $37.00 to $38.00 and gave the company a “buy” rating in a report on Monday, July 31st. Vertical Research lowered Norbord from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Finally, Scotiabank reiterated a “buy” rating and issued a $44.25 price target on shares of Norbord in a report on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $39.45.
Norbord declared that its Board of Directors has initiated a share repurchase program on Friday, October 27th that allows the company to buyback 5,140,000 outstanding shares. This buyback authorization allows the construction company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
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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