Owens Corning (OC) to Post Q1 2018 Earnings of $1.02 Per Share, Northcoast Research Forecasts

Owens Corning (NYSE:OC) – Investment analysts at Northcoast Research lifted their Q1 2018 earnings per share estimates for Owens Corning in a research report issued to clients and investors on Friday, April 6th. Northcoast Research analyst K. Hocevar now forecasts that the construction company will post earnings of $1.02 per share for the quarter, up from their previous forecast of $0.92. Northcoast Research also issued estimates for Owens Corning’s Q2 2018 earnings at $1.40 EPS, Q3 2018 earnings at $1.77 EPS, Q4 2018 earnings at $1.62 EPS, FY2018 earnings at $5.80 EPS and FY2019 earnings at $6.80 EPS.

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A number of other equities research analysts have also recently commented on the company. Goldman Sachs cut Owens Corning from a “buy” rating to a “neutral” rating and set a $69.00 price objective for the company. in a research note on Wednesday, April 4th. Zacks Investment Research cut Owens Corning from a “buy” rating to a “hold” rating in a research note on Wednesday, March 21st. Royal Bank of Canada set a $102.00 price objective on Owens Corning and gave the company a “buy” rating in a research note on Friday, February 23rd. MKM Partners raised their price objective on Owens Corning to $86.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set 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. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $87.81.

Shares of Owens Corning stock opened at $80.89 on Monday. The company has a quick ratio of 0.89, a current ratio of 1.55 and a debt-to-equity ratio of 0.57. Owens Corning has a 52 week low of $59.26 and a 52 week high of $96.52. The company has a market capitalization of $9,039.21, a price-to-earnings ratio of 18.38, a PEG ratio of 0.79 and a beta of 1.09.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, February 21st. The construction company reported $1.11 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year.

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

In related news, insider Arnaud Genis sold 59,541 shares of Owens Corning 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Ava Harter sold 1,100 shares of Owens Corning 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. Company insiders own 1.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of OC. Worth Venture Partners LLC raised its stake 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 buying an additional 570 shares during the period. Penserra Capital Management LLC raised its stake 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 buying an additional 627 shares during the period. ETRADE Capital Management LLC raised its stake 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 buying an additional 639 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of Owens Corning by 3.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 21,638 shares of the construction company’s stock valued at $1,989,000 after buying an additional 706 shares during the period. Finally, Pillar Pacific Capital Management LLC raised its stake in shares of Owens Corning by 1.6% in the fourth quarter. Pillar Pacific Capital Management LLC now owns 46,120 shares of the construction company’s stock valued at $4,240,000 after buying an additional 725 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

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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.

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

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