USG Corporation (USG) Expected to Post Earnings of $0.51 Per Share
Analysts expect that USG Corporation (NYSE:USG) will announce $0.51 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for USG Corporation’s earnings, with the lowest EPS estimate coming in at $0.48 and the highest estimate coming in at $0.56. USG Corporation reported earnings per share of $0.46 in the same quarter last year, which suggests a positive year-over-year growth rate of 10.9%. The company is scheduled to report its next earnings report on Tuesday, October 24th.
On average, analysts expect that USG Corporation will report full year earnings of $1.73 per share for the current financial year, with EPS estimates ranging from $1.65 to $1.85. For the next financial year, analysts anticipate that the company will post earnings of $2.11 per share, with EPS estimates ranging from $2.03 to $2.25. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow USG Corporation.
USG Corporation (NYSE:USG) last announced its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by $0.07. The firm had revenue of $811 million during the quarter, compared to analysts’ expectations of $809.44 million. USG Corporation had a net margin of 14.94% and a return on equity of 13.57%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 EPS.
Several equities analysts recently weighed in on the company. BidaskClub downgraded USG Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Bank of America Corporation downgraded USG Corporation from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $38.00 to $31.00 in a research report on Thursday, July 27th. Jefferies Group LLC reiterated a “hold” rating on shares of USG Corporation in a research report on Wednesday, July 19th. Barclays PLC upgraded USG Corporation from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $28.00 to $26.00 in a research report on Sunday, July 30th. Finally, Instinet reiterated a “neutral” rating and set a $33.00 target price (up from $30.00) on shares of USG Corporation in a research report on Saturday, April 29th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $31.00.
Shares of USG Corporation (NYSE:USG) traded down 1.12% on Tuesday, reaching $26.43. The company’s stock had a trading volume of 479,380 shares. The company has a 50 day moving average of $28.10 and a 200 day moving average of $30.37. The stock has a market capitalization of $3.79 billion, a P/E ratio of 8.48 and a beta of 1.08. USG Corporation has a 1-year low of $23.71 and a 1-year high of $34.67.
In other USG Corporation news, VP Jeanette A. Press sold 3,121 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $28.55, for a total transaction of $89,104.55. Following the completion of the sale, the vice president now owns 13,981 shares in the company, valued at approximately $399,157.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jennifer F. Scanlon acquired 1,500 shares of the stock in a transaction on Monday, June 5th. The shares were acquired at an average price of $29.39 per share, with a total value of $44,085.00. Following the purchase, the insider now owns 82,902 shares in the company, valued at $2,436,489.78. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of USG Corporation by 14,864.0% in the first quarter. BlackRock Inc. now owns 4,036,547 shares of the construction company’s stock worth $128,363,000 after buying an additional 4,009,572 shares during the period. JPMorgan Chase & Co. raised its stake in shares of USG Corporation by 953.1% in the first quarter. JPMorgan Chase & Co. now owns 1,986,738 shares of the construction company’s stock worth $63,179,000 after buying an additional 1,798,074 shares during the period. Bank of America Corp DE raised its stake in shares of USG Corporation by 95.8% in the first quarter. Bank of America Corp DE now owns 3,579,696 shares of the construction company’s stock worth $113,834,000 after buying an additional 1,751,530 shares during the period. Fairfax Financial Holdings Ltd Can raised its stake in shares of USG Corporation by 335.8% in the first quarter. Fairfax Financial Holdings Ltd Can now owns 1,530,522 shares of the construction company’s stock worth $48,671,000 after buying an additional 1,179,300 shares during the period. Finally, Macquarie Group Ltd. raised its stake in shares of USG Corporation by 94.2% in the first quarter. Macquarie Group Ltd. now owns 2,086,225 shares of the construction company’s stock worth $66,342,000 after buying an additional 1,011,813 shares during the period. Hedge funds and other institutional investors own 89.27% of the company’s stock.
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About USG Corporation
USG Corporation, through its subsidiaries, is a manufacturer and distributor of building materials. The Company’s segments include Gypsum, Ceilings and USG Boral Building Products (UBBP). It produces a range of products for use in new residential, new nonresidential, and residential and nonresidential repair and remodel construction, as well as products used in certain industrial processes.
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