Q4 2017 EPS Estimates for Owens Corning Inc (NYSE:OC) Increased by Analyst

Owens Corning Inc (NYSE:OC) – Equities research analysts at Seaport Global Securities upped their Q4 2017 earnings per share estimates for Owens Corning in a report released on Wednesday, according to Zacks Investment Research. Seaport Global Securities analyst M. Mccall now anticipates that the construction company will post earnings per share of $0.98 for the quarter, up from their prior estimate of $0.97. Seaport Global Securities also issued estimates for Owens Corning’s Q1 2018 earnings at $0.89 EPS, Q3 2018 earnings at $1.37 EPS, Q4 2018 earnings at $1.15 EPS and FY2019 earnings at $5.90 EPS.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.01). Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year.

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Several other research analysts have also recently weighed in on OC. Jefferies Group LLC restated a “buy” rating and issued a $77.00 price target on shares of Owens Corning in a research note on Wednesday, July 19th. MKM Partners upgraded Owens Corning from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $47.00 to $62.00 in a research note on Thursday, July 27th. BidaskClub cut Owens Corning from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. FBR & Co boosted their price target on Owens Corning from $63.00 to $70.00 and gave the stock a “mkt perform” rating in a research note on Thursday, July 27th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $83.00 price target on shares of Owens Corning in a research note on Friday, July 28th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $76.95.

Owens Corning (NYSE:OC) opened at $81.89 on Friday. Owens Corning has a one year low of $49.80 and a one year high of $83.31. The company has a quick ratio of 0.99, a current ratio of 1.66 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $9,172.93, a price-to-earnings ratio of 20.51, a PEG ratio of 1.44 and a beta of 1.08.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 2nd. Shareholders of record on Monday, October 16th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Friday, October 13th. Owens Corning’s dividend payout ratio is presently 23.88%.

In other news, Chairman Michael H. Thaman sold 130,700 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $74.95, for a total value of $9,795,965.00. Following the completion of the transaction, the chairman now owns 847,992 shares of the company’s stock, valued at $63,557,000.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kelly Schmidt sold 1,462 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $70.35, for a total value of $102,851.70. The disclosure for this sale can be found here. Insiders have sold 196,266 shares of company stock valued at $14,529,782 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Owens Corning by 1.8% in the second quarter. Vanguard Group Inc. now owns 10,562,420 shares of the construction company’s stock worth $706,837,000 after acquiring an additional 190,866 shares during the period. BlackRock Inc. lifted its position in shares of Owens Corning by 4,010.8% in the first quarter. BlackRock Inc. now owns 6,496,203 shares of the construction company’s stock worth $398,669,000 after buying an additional 6,338,177 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Owens Corning by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,666,185 shares of the construction company’s stock worth $245,337,000 after buying an additional 27,809 shares in the last quarter. State Street Corp lifted its position in shares of Owens Corning by 0.4% in the first quarter. State Street Corp now owns 2,305,764 shares of the construction company’s stock worth $141,507,000 after buying an additional 8,490 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of Owens Corning by 21.2% in the second quarter. LSV Asset Management now owns 1,680,100 shares of the construction company’s stock worth $112,432,000 after buying an additional 294,400 shares in the last quarter. 98.00% of the stock is owned by hedge funds and other institutional investors.

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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