Owens Corning (NYSE:OC) – Research analysts at Jefferies Financial Group dropped their Q4 2018 earnings per share (EPS) estimates for shares of Owens Corning in a research note issued to investors on Monday, October 15th. Jefferies Financial Group analyst P. Ng now expects that the construction company will post earnings per share of $1.53 for the quarter, down from their prior forecast of $1.56.
Several other research firms have also weighed in on OC. Citigroup lifted their target price on Owens Corning from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Wednesday, June 20th. Zelman & Associates upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Tuesday, June 19th. Zacks Investment Research lowered Owens Corning from a “buy” rating to a “sell” rating in a report on Monday, July 9th. Royal Bank of Canada reiterated a “hold” rating and set a $80.00 target price on shares of Owens Corning in a report on Thursday, June 28th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $75.00 target price on shares of Owens Corning in a report on Thursday, July 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Owens Corning presently has a consensus rating of “Hold” and an average target price of $80.37.
Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, July 25th. The construction company reported $1.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.28). The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. Owens Corning had a return on equity of 11.72% and a net margin of 4.47%. The business’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 earnings per share.
Institutional investors have recently modified their holdings of the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in shares of Owens Corning in the second quarter valued at about $127,000. Gradient Investments LLC acquired a new stake in shares of Owens Corning in the third quarter valued at about $138,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Owens Corning in the second quarter valued at about $163,000. Element Capital Management LLC acquired a new stake in shares of Owens Corning in the first quarter valued at about $237,000. Finally, Mariner LLC acquired a new stake in shares of Owens Corning in the first quarter valued at about $241,000.
In other news, Director W Howard Morris sold 1,514 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $58.47, for a total value of $88,523.58. Following the sale, the director now directly owns 36,332 shares in the company, valued at $2,124,332.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 2nd. Stockholders of record on Tuesday, October 16th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, October 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.64%. Owens Corning’s dividend payout ratio (DPR) is 19.09%.
Owens Corning Company Profile
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential and commercial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
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