USG Corporation (USG) Expected to Announce Quarterly Sales of $803.29 Million
Analysts expect that USG Corporation (NYSE:USG) will announce sales of $803.29 million for the current quarter, Zacks reports. Four analysts have provided estimates for USG Corporation’s earnings, with estimates ranging from $799.00 million to $809.00 million. USG Corporation reported sales of $767.00 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.7%. The company is scheduled to report its next earnings report 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 anticipate that the firm will post sales of $3.30 billion per share, with estimates ranging from $3.27 billion to $3.33 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for USG Corporation.
USG Corporation (NYSE:USG) last posted its earnings results on Wednesday, July 26th. The construction company reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.07. The business had revenue of $811 million during the quarter, compared to the consensus estimate of $809.44 million. USG Corporation had a net margin of 14.94% and a return on equity of 13.57%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 EPS.
A number of analysts have commented on USG shares. Bank of America Corporation lowered shares of USG Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the company from $38.00 to $31.00 in a research note on Thursday, July 27th. Credit Suisse Group started coverage on shares of USG Corporation in a research note on Thursday, June 22nd. They set an “underperform” rating and a $24.00 price target for the company. BidaskClub upgraded shares of USG Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. CL King lowered shares of USG Corporation from a “strong-buy” rating to a “neutral” rating in a research note on Monday, July 24th. Finally, Barclays PLC upgraded shares of USG Corporation from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $28.00 to $26.00 in a research note on Sunday, July 30th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.57.
In other news, VP Jeanette A. Press sold 3,121 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $28.55, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.67% of the company’s stock.
Several large investors have recently modified their holdings of USG. Creative Planning boosted its holdings in shares of USG Corporation by 35.3% in the 1st quarter. Creative Planning now owns 4,085 shares of the construction company’s stock worth $130,000 after buying an additional 1,065 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of USG Corporation by 42.0% in the 1st quarter. Bank of Montreal Can now owns 17,129 shares of the construction company’s stock worth $546,000 after buying an additional 5,070 shares during the last quarter. Glen Harbor Capital Management LLC purchased a new position in shares of USG Corporation in the 1st quarter worth about $275,000. Janney Montgomery Scott LLC purchased a new position in shares of USG Corporation in the 1st quarter worth about $352,000. Finally, Tyers Asset Management LLC purchased a new position in shares of USG Corporation in the 1st quarter worth about $129,000. 87.00% of the stock is currently owned by institutional investors.
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USG Corporation (NYSE USG) traded down 0.44% during mid-day trading on Tuesday, reaching $29.59. 831,367 shares of the company were exchanged. The company’s 50 day moving average price is $27.58 and its 200-day moving average price is $30.00. USG Corporation has a 12-month low of $23.71 and a 12-month high of $34.67. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 9.49 and a beta of 1.00.
USG Corporation Company Profile
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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