Owens Corning (NYSE:OC) – Equities researchers at SunTrust Banks reduced their FY2018 EPS estimates for Owens Corning in a research report issued on Wednesday, October 24th. SunTrust Banks analyst K. Hughes now expects that the construction company will post earnings of $4.71 per share for the year, down from their prior forecast of $5.22. SunTrust Banks currently has a “Positive” rating and a $45.00 price target on the stock. SunTrust Banks also issued estimates for Owens Corning’s Q4 2018 earnings at $1.20 EPS and Q4 2019 earnings at $1.48 EPS.

A number of other brokerages have also commented on OC. Zacks Investment Research lowered Owens Corning from a “buy” rating to a “sell” rating in a research note on Monday, July 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $75.00 price target on shares of Owens Corning in a research note on Thursday, July 26th. Northcoast Research reaffirmed a “buy” rating and issued a $81.00 price target on shares of Owens Corning in a research note on Friday, July 27th. ValuEngine lowered Owens Corning from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 26th. Finally, Credit Suisse Group dropped their price target on Owens Corning from $84.00 to $72.00 and set an “outperform” rating for the company in a research note on Thursday, July 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Owens Corning currently has a consensus rating of “Hold” and an average target price of $74.94.

Shares of OC stock opened at $45.22 on Monday. Owens Corning has a 52 week low of $42.88 and a 52 week high of $96.52. The firm has a market capitalization of $4.94 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 0.54 and a beta of 0.98. The company has a quick ratio of 0.88, a current ratio of 1.62 and a debt-to-equity ratio of 0.87.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, October 24th. The construction company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.11). Owens Corning had a return on equity of 12.37% and a net margin of 5.33%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the business earned $1.25 EPS. The business’s revenue was up 6.8% compared to the same quarter last year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in Owens Corning by 95.8% in the second quarter. Bank of America Corp DE now owns 1,255,463 shares of the construction company’s stock worth $79,559,000 after purchasing an additional 614,241 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in Owens Corning by 96.0% in the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,900 shares of the construction company’s stock worth $311,000 after purchasing an additional 2,400 shares in the last quarter. Carillon Tower Advisers Inc. raised its holdings in Owens Corning by 69.2% in the second quarter. Carillon Tower Advisers Inc. now owns 210,775 shares of the construction company’s stock worth $13,357,000 after purchasing an additional 86,175 shares in the last quarter. Keybank National Association OH raised its holdings in Owens Corning by 54.2% in the second quarter. Keybank National Association OH now owns 13,699 shares of the construction company’s stock worth $868,000 after purchasing an additional 4,815 shares in the last quarter. Finally, Bank of Nova Scotia bought a new position in Owens Corning in the second quarter worth $25,931,000. Institutional investors and hedge funds own 94.42% of the company’s stock.

In other Owens Corning news, Director W Howard Morris sold 1,514 shares of the stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $58.47, for a total value of $88,523.58. Following the completion of the transaction, the director now owns 36,332 shares in the company, valued at $2,124,332.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 2nd. Shareholders 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 yield of 1.86%. 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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Earnings History and Estimates for Owens Corning (NYSE:OC)

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