Jefferies Group Lowers Owens Corning Price Target to $49.00 (OC)
Research analysts at Jefferies Group decreased their price target on shares of Owens Corning (NYSE:OC) from $51.00 to $49.00 in a report released on Friday. Jefferies Group’s price objective would suggest a potential upside of 26.26% from the stock’s previous close.
A number of other analysts have also recently weighed in on OC. Analysts at JPMorgan Chase & Co. cut their price target on shares of Owens Corning from $50.00 to $45.00 in a research note on Friday. Separately, analysts at FBR Capital Markets cut their price target on shares of Owens Corning from $50.00 to $46.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Goldman Sachs initiated coverage on shares of Owens Corning in a research note on Tuesday. They set a “neutral” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $40.95.
Shares of Owens Corning (NYSE:OC) traded down 6.03% during mid-day trading on Friday, hitting $38.81. The stock had a trading volume of 6,821,293 shares. Owens Corning has a 52 week low of $34.41 and a 52 week high of $46.64. The stock has a 50-day moving average of $41.02 and a 200-day moving average of $41.35. The company has a market cap of $4.570 billion and a price-to-earnings ratio of 16.25.
Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, April 23rd. The company reported $0.29 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.35 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company posted $0.29 earnings per share. Owens Corning’s revenue was down 5.3% compared to the same quarter last year. On average, analysts predict that Owens Corning will post $2.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 29th. Stockholders of record on Monday, July 14th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, July 10th.
Owens Corning is engaged in composite and building materials systems, delivering a range of products and services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.