Q2 2018 EPS Estimates for Owens Corning Raised by Analyst (OC)
Owens Corning (NYSE:OC) – Equities research analysts at Jefferies Group upped their Q2 2018 earnings per share estimates for Owens Corning in a report issued on Wednesday. Jefferies Group analyst P. Ng now anticipates that the construction company will post earnings of $1.68 per share for the quarter, up from their prior estimate of $1.51. Jefferies Group has a “Buy” rating and a $82.00 price objective on the stock. Jefferies Group also issued estimates for Owens Corning’s Q4 2018 earnings at $1.34 EPS, FY2018 earnings at $5.85 EPS and FY2019 earnings at $6.86 EPS.
Several other brokerages also recently weighed in on OC. Zacks Investment Research upgraded shares of Owens Corning from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a report on Thursday. Credit Suisse Group increased their price target on shares of Owens Corning from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, November 17th. Argus started coverage on shares of Owens Corning in a report on Wednesday, December 6th. They issued a “buy” rating and a $109.00 price target on the stock. Barclays set a $75.00 price target on shares of Owens Corning and gave the stock a “hold” rating in a report on Thursday, October 26th. Finally, Royal Bank of Canada increased their price target on shares of Owens Corning from $79.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Nine equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $84.77.
Shares of Owens Corning (OC) traded up $0.67 during trading hours on Friday, reaching $95.62. 711,400 shares of the company traded hands, compared to its average volume of 784,867. Owens Corning has a one year low of $53.04 and a one year high of $96.25. The company has a current ratio of 1.66, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62. The firm has a market cap of $10,670.00, a P/E ratio of 28.54, a PEG ratio of 1.17 and a beta of 1.09.
Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.01). Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the company earned $1.09 EPS. The business’s revenue was up 12.2% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 17th. Stockholders of record on Tuesday, January 2nd were paid a dividend of $0.21 per share. This is a boost from Owens Corning’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, December 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.88%. Owens Corning’s dividend payout ratio (DPR) is presently 25.07%.
In other news, CFO Michael C. Mcmurray sold 18,000 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $90.78, for a total transaction of $1,634,040.00. Following the transaction, the chief financial officer now owns 52,228 shares in the company, valued at approximately $4,741,257.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Ava Harter sold 487 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $81.96, for a total value of $39,914.52. The disclosure for this sale can be found here. Insiders have sold a total of 129,933 shares of company stock worth $11,196,722 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.
Large investors have recently made changes to their positions in the company. Grove Bank & Trust lifted its position in shares of Owens Corning by 213.5% during 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 in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Owens Corning during the 3rd quarter valued at approximately $202,000. Worth Venture Partners LLC purchased a new position in shares of Owens Corning during the 3rd quarter valued at approximately $213,000. Advisors Asset Management Inc. lifted its position in shares of Owens Corning by 214.4% during 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 in the last quarter. Finally, Csenge Advisory Group purchased a new position in shares of Owens Corning during the 3rd quarter valued at approximately $245,000. Hedge funds and other institutional investors own 94.55% of the company’s stock.
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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