USG Corp. to Post Q3 2016 Earnings of $0.45 Per Share, Jefferies Group Forecasts (USG)
USG Corp. (NYSE:USG) – Research analysts at Jefferies Group lowered their Q3 2016 EPS estimates for USG Corp. in a report released on Thursday. Jefferies Group analyst P. Ng now expects that the brokerage will post earnings per share of $0.45 for the quarter, down from their previous forecast of $0.52. Jefferies Group has a “Hold” rating and a $29.00 price target on the stock. Jefferies Group also issued estimates for USG Corp.’s FY2016 earnings at $1.76 EPS.
USG Corp. (NYSE:USG) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.02. USG Corp. had a net margin of 26.60% and a return on equity of 21.37%. The business earned $1,000 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year.
USG has been the topic of several other research reports. Citigroup Inc. started coverage on USG Corp. in a research note on Friday, August 26th. They issued a “neutral” rating and a $32.00 price objective on the stock. RBC Capital Markets upgraded USG Corp. from a “sector perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research note on Tuesday, September 13th. Vertical Group upgraded USG Corp. from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Monday. Zacks Investment Research lowered USG Corp. from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 23rd. Finally, Vertical Research raised USG Corp. from a “hold” rating to a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $32.20.
Shares of USG Corp. (NYSE:USG) traded up 4.062% during trading on Friday, reaching $27.285. The company’s stock had a trading volume of 1,590,898 shares. USG Corp. has a 52-week low of $15.85 and a 52-week high of $30.84. The firm’s 50-day moving average is $27.38 and its 200 day moving average is $26.99. The company has a market cap of $3.98 billion, a PE ratio of 3.914 and a beta of 1.96.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC purchased a new position in shares of USG Corp. during the first quarter worth approximately $122,000. Zions Bancorporation bought a new position in shares of USG Corp. during the first quarter valued at about $156,000. Societe Generale bought a new position in shares of USG Corp. during the second quarter valued at about $165,000. Meeder Asset Management Inc. bought a new position in shares of USG Corp. during the second quarter valued at about $182,000. Finally, BlackRock Japan Co. Ltd bought a new position in shares of USG Corp. during the first quarter valued at about $219,000. Institutional investors own 81.66% of the company’s stock.
In other news, VP Kenneth R. Banas sold 1,715 shares of the stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $28.00, for a total value of $48,020.00. Following the completion of the transaction, the vice president now directly owns 13,500 shares in the company, valued at approximately $378,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer F. Scanlon sold 9,260 shares of the stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $27.13, for a total value of $251,223.80. Following the completion of the transaction, the insider now owns 34,432 shares of the company’s stock, valued at $934,140.16. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
About USG Corp.
USG Corporation is a manufacturer and distributor of building materials. The Company 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. The Company’s segments include Gypsum, Ceilings, Distribution, and USG Boral Building Products.
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