Owens Corning (NYSE:OC) – Jefferies Group decreased their Q1 2018 earnings per share (EPS) estimates for shares of Owens Corning in a report released on Wednesday. Jefferies Group analyst P. Ng now anticipates that the construction company will post earnings of $0.94 per share for the quarter, down from their prior forecast of $1.25. Jefferies Group also issued estimates for Owens Corning’s Q2 2018 earnings at $1.52 EPS, FY2018 earnings at $5.63 EPS and FY2019 earnings at $6.83 EPS.
Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, February 21st. The construction company reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.07. Owens Corning had a return on equity of 12.26% and a net margin of 4.53%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the business earned $0.72 EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year.
Shares of Owens Corning (NYSE:OC) opened at $85.54 on Monday. Owens Corning has a 1-year low of $57.36 and a 1-year high of $96.52. The firm has a market capitalization of $9,520.00, a price-to-earnings ratio of 33.55, a price-to-earnings-growth ratio of 0.84 and a beta of 0.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.55 and a quick ratio of 0.89.
A number of large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its position in Owens Corning by 9.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,689 shares of the construction company’s stock valued at $247,000 after buying an additional 304 shares in the last quarter. Worth Venture Partners LLC increased its holdings in shares of Owens Corning by 20.7% in the fourth quarter. Worth Venture Partners LLC now owns 3,320 shares of the construction company’s stock valued at $306,000 after purchasing an additional 570 shares during the period. Penserra Capital Management LLC increased its holdings in shares of Owens Corning by 18.6% in the fourth quarter. Penserra Capital Management LLC now owns 3,990 shares of the construction company’s stock valued at $366,000 after purchasing an additional 627 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Owens Corning by 2.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,472 shares of the construction company’s stock valued at $1,738,000 after purchasing an additional 632 shares during the period. Finally, ETRADE Capital Management LLC increased its holdings in shares of Owens Corning by 5.4% in the fourth quarter. ETRADE Capital Management LLC now owns 12,534 shares of the construction company’s stock valued at $1,152,000 after purchasing an additional 639 shares during the period. 93.65% of the stock is currently owned by institutional investors.
In related news, CFO Michael C. Mcmurray sold 18,000 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $90.78, for a total transaction of $1,634,040.00. Following the transaction, the chief financial officer now directly owns 52,228 shares of the company’s stock, valued at approximately $4,741,257.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James J. Mcmonagle sold 4,136 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $87.20, for a total value of $360,659.20. Following the transaction, the director now directly owns 47,925 shares in the company, valued at $4,179,060. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 9th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, March 8th. Owens Corning’s dividend payout ratio is currently 32.94%.
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About Owens Corning
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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