Owens Corning Lowered to “Underperform” at Zacks (OC)
Owens Corning (NYSE:OC) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued on Monday. They currently have a $37.00 price target on the stock. Zacks‘s price target points to a potential downside of 4.96% from the company’s current price.
Shares of Owens Corning (NYSE:OC) traded down 0.23% during mid-day trading on Monday, hitting $38.84. 758,700 shares of the company’s stock traded hands. Owens Corning has a 52-week low of $34.41 and a 52-week high of $46.64. The stock’s 50-day moving average is $40.81 and its 200-day moving average is $41.37. The company has a market cap of $4.573 billion and a P/E ratio of 15.32.
Owens Corning (NYSE:OC) last released its earnings data 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. Analysts expect that Owens Corning will post $2.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 29th. Stockholders of record on Monday, July 14th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, July 10th.
OC has been the subject of a number of other recent research reports. Analysts at Wedbush cut their price target on shares of Owens Corning from $48.00 to $45.00 in a research note on Monday, June 23rd. They now have an “outperform” rating on the stock. Separately, analysts at CL King downgraded shares of Owens Corning from a “buy” rating to a “neutral” rating in a research note on Monday, June 23rd. Finally, analysts at RBC Capital cut their price target on shares of Owens Corning from $45.00 to $42.00 in a research note on Monday, June 23rd. They now have a “sector perform” rating on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $40.97.
Owens Corning is engaged in composite and building materials systems, delivering a range of products and services.
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