Norbord Inc (NYSE:OSB) has been assigned an average rating of “Hold” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $40.33.
A number of equities research analysts have commented on the stock. ValuEngine cut shares of Norbord from a “buy” rating to a “hold” rating in a research note on Wednesday, June 13th. Zacks Investment Research upgraded shares of Norbord from a “hold” rating to a “strong-buy” rating and set a $44.00 target price on the stock in a research note on Saturday, July 21st.
Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Norbord by 10.9% during the 1st quarter. BlackRock Inc. now owns 42,230 shares of the construction company’s stock valued at $1,534,000 after buying an additional 4,134 shares in the last quarter. Highstreet Asset Management Inc. grew its holdings in Norbord by 2,025.7% during the 2nd quarter. Highstreet Asset Management Inc. now owns 4,294 shares of the construction company’s stock valued at $177,000 after buying an additional 4,092 shares in the last quarter. Credit Agricole S A grew its holdings in Norbord by 154.5% during the 2nd quarter. Credit Agricole S A now owns 28,000 shares of the construction company’s stock valued at $1,152,000 after buying an additional 17,000 shares in the last quarter. Navellier & Associates Inc purchased a new stake in Norbord during the 2nd quarter valued at approximately $794,000. Finally, Cornerstone Wealth Management LLC purchased a new stake in Norbord during the 2nd quarter valued at approximately $264,000. 76.86% of the stock is owned by institutional investors and hedge funds.
Norbord (NYSE:OSB) last released its earnings results on Thursday, August 2nd. The construction company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.31. Norbord had a net margin of 22.75% and a return on equity of 48.17%. The company had revenue of $707.00 million for the quarter, compared to analysts’ expectations of $682.27 million. During the same quarter last year, the business earned $1.10 EPS. The firm’s revenue was up 31.9% compared to the same quarter last year. sell-side analysts forecast that Norbord will post 5.7 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Saturday, September 1st were paid a dividend of $3.459 per share. This is a boost from Norbord’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $13.84 dividend on an annualized basis and a yield of 40.06%. Norbord’s dividend payout ratio (DPR) is presently 306.68%.
Norbord Company Profile
Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial manufacturers 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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