Zacks: Analysts Expect Owens Corning (OC) Will Post Earnings of $0.96 Per Share
Brokerages expect that Owens Corning (NYSE:OC) will post earnings per share of $0.96 for the current quarter, according to Zacks. Seven analysts have made estimates for Owens Corning’s earnings, with estimates ranging from $0.86 to $1.04. Owens Corning posted earnings of $0.85 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 12.9%. The firm is scheduled to announce its next earnings results before the market opens on Wednesday, April 25th.
On average, analysts expect that Owens Corning will report full year earnings of $5.74 per share for the current year, with EPS estimates ranging from $5.47 to $5.95. For the next fiscal year, analysts expect that the company will post earnings of $6.72 per share, with EPS estimates ranging from $6.58 to $6.90. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Owens Corning.
Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, February 21st. The construction company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.07. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Owens Corning had a net margin of 4.53% and a return on equity of 12.26%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS.
Shares of NYSE:OC traded up $0.62 during mid-day trading on Tuesday, reaching $81.77. 275,356 shares of the company were exchanged, compared to its average volume of 1,044,623. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.89 and a current ratio of 1.55. The stock has a market capitalization of $9,006.84, a P/E ratio of 18.59, a PEG ratio of 0.79 and a beta of 1.08. Owens Corning has a 1 year low of $59.26 and a 1 year high of $96.52.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Shareholders of record on Friday, March 9th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, March 8th. Owens Corning’s payout ratio is currently 19.09%.
In other news, insider Arnaud Genis sold 59,541 shares of Owens Corning stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $81.32, for a total value of $4,841,874.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Ava Harter sold 1,100 shares of Owens Corning stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $84.00, for a total transaction of $92,400.00. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Large investors have recently modified their holdings of the company. Cerebellum GP LLC acquired a new position in Owens Corning during the fourth quarter worth about $119,000. Strs Ohio purchased a new stake in Owens Corning during the fourth quarter worth approximately $129,000. Focused Wealth Management Inc purchased a new stake in Owens Corning during the fourth quarter worth approximately $175,000. Avestar Capital LLC purchased a new stake in Owens Corning during the fourth quarter worth approximately $176,000. Finally, LS Investment Advisors LLC purchased a new stake in Owens Corning during the fourth quarter worth approximately $198,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.
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About Owens Corning
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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