Owens Corning (NYSE:OC) declared a quarterly dividend on Thursday, December 6th, RTT News reports. Stockholders of record on Thursday, January 3rd will be paid a dividend of 0.22 per share by the construction company on Friday, January 18th. This represents a $0.88 annualized dividend and a dividend yield of 1.78%. This is an increase from Owens Corning’s previous quarterly dividend of $0.21.
Owens Corning has increased its dividend payment by an average of 18.6% annually over the last three years and has increased its dividend every year for the last 3 years. Owens Corning has a dividend payout ratio of 15.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Owens Corning to earn $5.53 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 15.2%.
Shares of OC stock traded up $0.43 on Thursday, hitting $49.55. The company had a trading volume of 1,190,105 shares, compared to its average volume of 1,586,162. The stock has a market cap of $5.37 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 0.77 and a beta of 1.13. Owens Corning has a twelve month low of $42.88 and a twelve month high of $96.52. The company has a quick ratio of 0.87, a current ratio of 1.62 and a debt-to-equity ratio of 0.87.
Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, October 24th. The construction company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.11). The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.89 billion. Owens Corning had a return on equity of 12.37% and a net margin of 5.33%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS. Sell-side analysts anticipate that Owens Corning will post 4.74 earnings per share for the current fiscal year.
A number of research firms recently weighed in on OC. Credit Suisse Group reduced their price target on Owens Corning from $57.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, October 25th. Nomura set a $88.00 price target on Owens Corning and gave the stock a “buy” rating in a report on Wednesday, August 29th. SunTrust Banks reduced their price target on Owens Corning to $45.00 and set a “positive” rating for the company in a report on Thursday, October 25th. Zacks Investment Research raised Owens Corning from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $62.00 to $58.00 in a report on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $73.87.
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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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