Owens Corning (NYSE:OC) – Research analysts at Jefferies Group boosted their Q1 2018 earnings estimates for Owens Corning in a note issued to investors on Wednesday. Jefferies Group analyst P. Ng now forecasts that the construction company will post earnings of $1.25 per share for the quarter, up from their prior estimate of $1.12. Jefferies Group has a “Buy” rating and a $82.00 price objective on the stock. Jefferies Group also issued estimates for Owens Corning’s Q3 2018 earnings at $1.58 EPS.
Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, October 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the business earned $1.09 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year.
Other analysts also recently issued reports about the company. Royal Bank of Canada reaffirmed a “buy” rating on shares of Owens Corning in a research note on Tuesday, October 3rd. Bank of America raised their price objective on Owens Corning from $84.00 to $97.00 and gave the stock a “buy” rating in a research report on Friday, November 17th. Stifel Nicolaus reissued a “buy” rating and set a $83.00 price objective on shares of Owens Corning in a research report on Thursday, October 26th. Argus initiated coverage on Owens Corning in a research report on Wednesday, December 6th. They set a “buy” rating and a $109.00 price objective for the company. Finally, Zacks Investment Research raised Owens Corning from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Wednesday, December 27th. Ten investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $84.77.
Shares of Owens Corning (NYSE:OC) opened at $94.95 on Thursday. Owens Corning has a 52 week low of $52.48 and a 52 week high of $96.25. The stock has a market capitalization of $10,560.00, a price-to-earnings ratio of 28.34, a price-to-earnings-growth ratio of 1.15 and a beta of 1.09. The company has a quick ratio of 0.99, a current ratio of 1.66 and a debt-to-equity ratio of 0.62.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Investors of record on Tuesday, January 2nd were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.88%. This is a boost from Owens Corning’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, December 29th. Owens Corning’s dividend payout ratio (DPR) is 25.07%.
In related news, Director W Howard Morris sold 2,026 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $81.95, for a total transaction of $166,030.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael C. Mcmurray sold 18,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $90.78, for a total value of $1,634,040.00. Following the transaction, the chief financial officer now owns 52,228 shares of the company’s stock, valued at $4,741,257.84. The disclosure for this sale can be found here. Insiders have sold a total of 129,933 shares of company stock valued at $11,196,722 over the last 90 days. 1.80% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in OC. Grove Bank & Trust boosted its stake in shares of Owens Corning by 213.5% in the 3rd quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock valued at $126,000 after buying an additional 1,110 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Owens Corning in the 3rd quarter valued at about $202,000. Worth Venture Partners LLC purchased a new position in shares of Owens Corning in the 3rd quarter valued at about $213,000. Advisors Asset Management Inc. boosted its stake in shares of Owens Corning by 214.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,764 shares of the construction company’s stock valued at $214,000 after buying an additional 1,885 shares during the period. Finally, Csenge Advisory Group purchased a new position in shares of Owens Corning in the 3rd quarter valued at about $245,000. Institutional investors and hedge funds own 94.55% of the company’s stock.
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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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