$0.95 Earnings Per Share Expected for Owens Corning (OC) This Quarter

Brokerages expect Owens Corning (NYSE:OC) to post earnings per share of $0.95 for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Owens Corning’s earnings. The highest EPS estimate is $1.04 and the lowest is $0.86. Owens Corning posted earnings per share of $0.85 during the same quarter last year, which indicates a positive year-over-year growth rate of 11.8%. The company is scheduled to report its next earnings report before the market opens on Wednesday, April 25th.

On average, analysts expect that Owens Corning will report full-year earnings of $5.72 per share for the current financial year, with EPS estimates ranging from $5.47 to $5.95. For the next fiscal year, analysts anticipate that the business will report earnings of $6.70 per share, with EPS estimates ranging from $6.58 to $6.90. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Owens Corning.

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Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, February 21st. The construction company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.07. The firm had revenue of $1.61 billion for 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%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share.

Several research firms have recently commented on OC. Credit Suisse Group reaffirmed an “outperform” rating and issued a $110.00 target price (up previously from $95.00) on shares of Owens Corning in a research report on Monday, January 22nd. They noted that the move was a valuation call. KeyCorp reaffirmed a “buy” rating and issued a $115.00 target price on shares of Owens Corning in a research report on Friday, January 12th. Zacks Investment Research raised 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. Zelman & Associates downgraded Owens Corning from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Finally, Seaport Global Securities upped their target price on Owens Corning from $90.00 to $107.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $87.81.

In other Owens Corning news, insider Arnaud Genis sold 59,541 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $81.32, for a total transaction of $4,841,874.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ava Harter sold 1,100 shares of the company’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $84.00, for a total value of $92,400.00. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cerebellum GP LLC bought a new stake in Owens Corning during the fourth quarter worth $119,000. Strs Ohio bought a new stake in Owens Corning during the fourth quarter worth $129,000. Focused Wealth Management Inc bought a new stake in Owens Corning during the fourth quarter worth $175,000. Avestar Capital LLC bought a new stake in Owens Corning during the fourth quarter worth $176,000. Finally, LS Investment Advisors LLC bought a new stake in Owens Corning during the fourth quarter worth $198,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

NYSE OC traded down $0.65 during trading on Friday, reaching $80.89. 1,156,677 shares of the company’s stock were exchanged, compared to its average volume of 1,084,338. Owens Corning has a fifty-two week low of $59.26 and a fifty-two week high of $96.52. The company has a quick ratio of 0.89, a current ratio of 1.55 and a debt-to-equity ratio of 0.57. The company has a market cap of $9,111.88, a PE ratio of 18.38, a price-to-earnings-growth ratio of 0.80 and a beta of 1.09.

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 3rd. Investors of record on Friday, March 9th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Thursday, March 8th. Owens Corning’s dividend payout ratio (DPR) is currently 19.09%.

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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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Earnings History and Estimates for Owens Corning (NYSE:OC)

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