Owens Corning (NYSE:OC) – Research analysts at Northcoast Research lifted their FY2018 EPS estimates for shares of Owens Corning in a report released on Wednesday. Northcoast Research analyst K. Hocevar now expects that the construction company will post earnings of $5.70 per share for the year, up from their prior forecast of $5.05. Northcoast Research also issued estimates for Owens Corning’s Q4 2018 earnings at $1.59 EPS.
A number of other research firms have also recently commented on OC. Zacks Investment Research upgraded Owens Corning from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Thursday, January 18th. Credit Suisse Group lifted their target price on Owens Corning from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, November 17th. Argus initiated coverage on Owens Corning in a research report on Wednesday, December 6th. They set a “buy” rating and a $109.00 target price on the stock. SunTrust Banks lifted their target price on Owens Corning to $85.00 and gave the stock a “hold” rating in a research report on Tuesday, November 21st. Finally, Bank of America lifted their target price on Owens Corning from $84.00 to $97.00 and gave the stock a “buy” rating in a research report on Friday, November 17th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Owens Corning has a consensus rating of “Buy” and an average target price of $87.95.
Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, February 21st. The construction company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.07. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.52 billion. Owens Corning had a return on equity of 12.26% and a net margin of 4.53%. Owens Corning’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders 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 1.00%. The ex-dividend date is Thursday, March 8th. Owens Corning’s payout ratio is 32.94%.
In other Owens Corning news, CFO Michael C. Mcmurray sold 18,000 shares of the business’s stock in a transaction that occurred on 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 owns 52,228 shares in the company, valued at approximately $4,741,257.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James J. Mcmonagle sold 4,136 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $87.20, for a total value of $360,659.20. Following the transaction, the director now owns 47,925 shares in the company, valued at approximately $4,179,060. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cerebellum GP LLC acquired a new stake in shares of Owens Corning during the 4th quarter worth $119,000. Strs Ohio acquired a new stake in shares of Owens Corning during the 4th quarter worth $129,000. Grove Bank & Trust increased its holdings 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 worth $126,000 after buying an additional 1,110 shares during the last quarter. Focused Wealth Management Inc acquired a new stake in shares of Owens Corning during the 4th quarter worth $175,000. Finally, Avestar Capital LLC acquired a new stake in shares of Owens Corning during the 4th quarter worth $176,000. Institutional investors own 93.65% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “FY2018 Earnings Forecast for Owens Corning Issued By Northcoast Research (OC)” was first published by Ticker Report and is the property of of Ticker Report. If you are accessing this story on another website, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this story can be viewed at https://www.tickerreport.com/banking-finance/3225733/fy2018-earnings-forecast-for-owens-corning-issued-by-northcoast-research-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.
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.