Wall Street brokerages expect Owens Corning Inc (NYSE:OC) to report earnings of $1.06 per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Owens Corning’s earnings, with the lowest EPS estimate coming in at $0.90 and the highest estimate coming in at $1.16. Owens Corning posted earnings of $1.29 per share in the same quarter last year, which indicates a negative year over year growth rate of 17.8%. The company is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, July 26th.

According to Zacks, analysts expect that Owens Corning will report full year earnings of $4.07 per share for the current financial year, with EPS estimates ranging from $3.79 to $4.25. For the next financial year, analysts forecast that the firm will report earnings of $4.52 per share, with EPS estimates ranging from $4.20 to $5.09. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Owens Corning.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, April 26th. The construction company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.31 billion. Owens Corning had a net margin of 7.38% and a return on equity of 11.56%. Owens Corning’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share.

Several brokerages have issued reports on OC. Jefferies Group LLC restated a “buy” rating and issued a $77.00 target price on shares of Owens Corning in a report on Wednesday, July 19th. BidaskClub cut Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Barclays PLC upped their target price on Owens Corning from $64.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, June 28th. Zacks Investment Research upgraded Owens Corning from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Wednesday, June 28th. Finally, Northcoast Research set a $76.00 target price on Owens Corning and gave the company a “buy” rating in a report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $66.80.

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In other news, insider Arnaud Genis sold 21,544 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $65.44, for a total transaction of $1,409,839.36. Following the sale, the insider now owns 80,143 shares of the company’s stock, valued at approximately $5,244,557.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James J. Mcmonagle sold 2,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $64.60, for a total value of $129,200.00. Following the sale, the director now directly owns 50,906 shares in the company, valued at approximately $3,288,527.60. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of OC. Comerica Bank acquired a new stake in shares of Owens Corning during the fourth quarter valued at $293,000. New York State Teachers Retirement System increased its position in Owens Corning by 2.0% in the fourth quarter. New York State Teachers Retirement System now owns 10,200 shares of the construction company’s stock worth $526,000 after buying an additional 200 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Owens Corning during the fourth quarter worth about $351,000. Searle & CO. purchased a new position in Owens Corning during the fourth quarter worth about $309,000. Finally, Highbridge Capital Management LLC increased its position in Owens Corning by 3.3% in the fourth quarter. Highbridge Capital Management LLC now owns 301,729 shares of the construction company’s stock worth $15,558,000 after buying an additional 9,509 shares in the last quarter.

Shares of Owens Corning (NYSE:OC) traded down 0.36% during mid-day trading on Friday, reaching $64.53. The company had a trading volume of 414,074 shares. The stock’s 50-day moving average price is $65.55 and its 200 day moving average price is $60.59. The company has a market capitalization of $7.22 billion, a PE ratio of 16.91 and a beta of 1.11. Owens Corning has a 1-year low of $46.45 and a 1-year high of $67.74.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, July 13th. Owens Corning’s dividend payout ratio is currently 21.00%.

Owens Corning Company Profile

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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Earnings History and Estimates for Owens Corning (NYSE:OC)

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