USG Corporation (USG) Expected to Announce Quarterly Sales of $803.29 Million
Wall Street brokerages expect USG Corporation (NYSE:USG) to report sales of $803.29 million for the current quarter, according to Zacks. Four analysts have provided estimates for USG Corporation’s earnings, with the highest sales estimate coming in at $809.00 million and the lowest estimate coming in at $799.00 million. USG Corporation reported sales of $767.00 million in the same quarter last year, which indicates a positive year over year growth rate of 4.7%. The company is expected to report its next earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that USG Corporation will report full-year sales of $803.29 million for the current fiscal year, with estimates ranging from $3.13 billion to $3.16 billion. For the next year, analysts expect that the firm will post sales of $3.30 billion per share, with estimates ranging from $3.27 billion to $3.33 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for USG Corporation.
USG Corporation (NYSE:USG) last posted its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by $0.07. USG Corporation had a return on equity of 13.57% and a net margin of 14.94%. The business had revenue of $811 million for the quarter, compared to analysts’ expectations of $809.44 million. During the same period in the prior year, the business posted $0.46 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year.
A number of equities research analysts have weighed in on the company. BidaskClub cut USG Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Barclays PLC upgraded USG Corporation from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $28.00 to $26.00 in a research note on Sunday, July 30th. Bank of America Corporation cut USG Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $38.00 to $31.00 in a research note on Thursday, July 27th. CL King cut USG Corporation from a “strong-buy” rating to a “neutral” rating in a research note on Monday, July 24th. Finally, Jefferies Group LLC reiterated a “hold” rating on shares of USG Corporation in a research note on Wednesday, July 19th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. USG Corporation has an average rating of “Hold” and an average price target of $31.00.
In other USG Corporation news, VP Jeanette A. Press sold 3,121 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $28.55, for a total value of $89,104.55. Following the completion of the transaction, the vice president now owns 13,981 shares in the company, valued at $399,157.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer F. Scanlon acquired 1,500 shares of the business’s stock in a transaction on Monday, June 5th. The stock was acquired at an average price of $29.39 per share, with a total value of $44,085.00. Following the transaction, the insider now directly owns 82,902 shares of the company’s stock, valued at approximately $2,436,489.78. The disclosure for this purchase can be found here. Corporate insiders own 0.67% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tyers Asset Management LLC acquired a new position in USG Corporation during the first quarter valued at about $129,000. Creative Planning boosted its position in USG Corporation by 35.3% in the first quarter. Creative Planning now owns 4,085 shares of the construction company’s stock valued at $130,000 after buying an additional 1,065 shares during the last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in USG Corporation during the first quarter valued at about $146,000. Elkfork Partners LLC acquired a new position in USG Corporation during the first quarter valued at about $178,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in USG Corporation during the first quarter valued at about $205,000. Hedge funds and other institutional investors own 89.27% of the company’s stock.
USG Corporation (NYSE USG) opened at 26.34 on Thursday. USG Corporation has a 52-week low of $23.71 and a 52-week high of $34.67. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 8.45 and a beta of 1.08. The firm’s 50-day moving average is $27.96 and its 200-day moving average is $30.32.
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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