B. Riley Comments on Owens Corning’s FY2018 Earnings (NYSE:OC)

Owens Corning (NYSE:OC) – Stock analysts at B. Riley increased their FY2018 earnings per share estimates for Owens Corning in a research note issued to investors on Wednesday, according to Zacks Investment Research. B. Riley analyst A. Rygiel now expects that the construction company will post earnings per share of $5.48 for the year, up from their previous forecast of $4.65.

Several other research firms have also issued reports on OC. KeyCorp reaffirmed a “buy” rating and issued a $115.00 price target on shares of Owens Corning in a research report on Friday. Zacks Investment Research raised Owens Corning from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Saturday, January 6th. Zelman & Associates lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Seaport Global Securities lifted their price target on Owens Corning from $90.00 to $107.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Argus started coverage on Owens Corning in a research report on Wednesday, December 6th. They issued a “buy” rating and a $109.00 target price for the company. Nine research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $84.77.

Owens Corning (OC) traded up $0.43 on Friday, hitting $95.92. The stock had a trading volume of 702,886 shares, compared to its average volume of 1,190,000. 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 stock has a market cap of $10,670.00, a price-to-earnings ratio of 28.63, a PEG ratio of 1.18 and a beta of 1.09. Owens Corning has a 12-month low of $50.77 and a 12-month high of $95.99.

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

Several institutional investors have recently added to or reduced their stakes in OC. Grove Bank & Trust grew its stake 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 acquiring an additional 1,110 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Owens Corning during the 3rd quarter valued at approximately $202,000. Worth Venture Partners LLC bought a new position in shares of Owens Corning during the 3rd quarter valued at approximately $213,000. Advisors Asset Management Inc. grew its stake 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 acquiring an additional 1,885 shares during the period. Finally, Vantage Financial Partners Ltd. Inc. bought a new position in shares of Owens Corning during the 2nd quarter valued at approximately $228,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

In other Owens Corning news, Director W Howard Morris sold 2,026 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $81.95, for a total transaction of $166,030.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Michael H. Thaman sold 101,600 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $85.33, for a total value of $8,669,528.00. Following the sale, the chairman now owns 840,370 shares of the company’s stock, valued at $71,708,772.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 129,933 shares of company stock valued at $11,196,722. Corporate insiders own 1.80% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.21 per share. This is an increase from Owens Corning’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Friday, December 29th. Owens Corning’s payout ratio is currently 25.07%.

COPYRIGHT VIOLATION WARNING: “B. Riley Comments on Owens Corning’s FY2018 Earnings (NYSE:OC)” was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece of content on another website, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.dispatchtribunal.com/2018/01/13/fy2018-eps-estimates-for-owens-corning-lifted-by-analyst-oc.html.

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.

Get a free copy of the Zacks research report on Owens Corning (OC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply