Wall Street brokerages expect Owens Corning (NYSE:OC) to post earnings per share of $0.94 for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Owens Corning’s earnings, with the lowest EPS estimate coming in at $0.82 and the highest estimate coming in at $1.04. Owens Corning posted earnings per share of $0.85 in the same quarter last year, which would suggest a positive year over year growth rate of 10.6%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Owens Corning will report full year earnings of $5.66 per share for the current financial year, with EPS estimates ranging from $5.07 to $5.95. For the next year, analysts anticipate that the firm will report earnings of $6.70 per share, with EPS estimates ranging from $6.58 to $6.90. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Owens Corning.
Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, February 21st. The construction company reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.07. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.52 billion. Owens Corning had a net margin of 4.53% and a return on equity of 12.26%. Owens Corning’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the business earned $0.72 EPS.
Shares of Owens Corning (NYSE OC) traded down $1.08 during trading on Wednesday, hitting $82.31. 269,789 shares of the company traded hands, compared to its average volume of 1,240,000. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.89 and a current ratio of 1.55. The company has a market cap of $9,200.00, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 0.83 and a beta of 1.08. Owens Corning has a 52 week low of $59.26 and a 52 week high of $96.52.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 9th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Thursday, March 8th. Owens Corning’s payout ratio is presently 25.53%.
Several hedge funds and other institutional investors have recently made changes to their positions in OC. Cerebellum GP LLC purchased a new stake in shares of Owens Corning during the 4th quarter valued at about $119,000. Grove Bank & Trust boosted 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 valued at $126,000 after acquiring an additional 1,110 shares during the last quarter. Strs Ohio purchased a new stake in shares of Owens Corning during the 4th quarter valued at about $129,000. Focused Wealth Management Inc purchased a new stake in shares of Owens Corning during the 4th quarter valued at about $175,000. Finally, Avestar Capital LLC purchased a new stake in shares of Owens Corning during the 4th quarter valued at about $176,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.
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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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