Analysts predict that Owens Corning (NYSE:OC) will report sales of $1.71 billion for the current quarter, according to Zacks. Seven analysts have made estimates for Owens Corning’s earnings, with the highest sales estimate coming in at $1.76 billion and the lowest estimate coming in at $1.66 billion. Owens Corning reported sales of $1.69 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 1.2%. The company is scheduled to issue its next earnings report on Wednesday, April 24th.
On average, analysts expect that Owens Corning will report full year sales of $7.19 billion for the current fiscal year, with estimates ranging from $6.95 billion to $7.30 billion. For the next financial year, analysts anticipate that the company will post sales of $7.44 billion, with estimates ranging from $7.32 billion to $7.49 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Owens Corning.
Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, February 20th. The construction company reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.09. Owens Corning had a return on equity of 12.92% and a net margin of 7.72%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the firm posted $1.11 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year.
A number of brokerages have commented on OC. Zacks Investment Research raised Owens Corning from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Northcoast Research lifted their price target on Owens Corning to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, November 27th. Buckingham Research began coverage on Owens Corning in a research report on Friday, February 1st. They set a “neutral” rating and a $54.00 price target for the company. Zelman & Associates cut Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 26th. Finally, TheStreet raised Owens Corning from a “c+” rating to a “b-” rating in a research report on Thursday, February 14th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Owens Corning has a consensus rating of “Hold” and an average price target of $69.12.
In other Owens Corning news, insider Marcio A. Sandri sold 3,700 shares of Owens Corning stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $47.01, for a total transaction of $173,937.00. Following the completion of the transaction, the insider now owns 42,005 shares in the company, valued at approximately $1,974,655.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Daniel T. Smith sold 18,681 shares of Owens Corning stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $50.75, for a total value of $948,060.75. Following the transaction, the vice president now owns 74,891 shares of the company’s stock, valued at approximately $3,800,718.25. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. First Bank & Trust increased its stake in shares of Owens Corning by 5.6% in the 4th quarter. First Bank & Trust now owns 4,028 shares of the construction company’s stock valued at $177,000 after purchasing an additional 213 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Owens Corning by 32.7% in the 4th quarter. IFP Advisors Inc now owns 1,262 shares of the construction company’s stock valued at $55,000 after purchasing an additional 311 shares in the last quarter. Malaga Cove Capital LLC increased its stake in shares of Owens Corning by 1.1% in the 4th quarter. Malaga Cove Capital LLC now owns 38,998 shares of the construction company’s stock valued at $1,697,000 after purchasing an additional 435 shares in the last quarter. Sage Capital Advisors llc increased its stake in shares of Owens Corning by 1.8% in the 4th quarter. Sage Capital Advisors llc now owns 30,151 shares of the construction company’s stock valued at $1,326,000 after purchasing an additional 526 shares in the last quarter. Finally, BB&T Securities LLC increased its stake in shares of Owens Corning by 10.3% in the 4th quarter. BB&T Securities LLC now owns 8,451 shares of the construction company’s stock valued at $371,000 after purchasing an additional 790 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.
Shares of OC opened at $47.23 on Wednesday. Owens Corning has a one year low of $40.64 and a one year high of $83.99. The company has a quick ratio of 0.74, a current ratio of 1.58 and a debt-to-equity ratio of 0.78. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 0.95 and a beta of 1.20.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 2nd. Shareholders of record on Friday, March 8th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.86%. Owens Corning’s payout ratio is currently 17.81%.
About Owens Corning
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial 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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