Norbord Inc. (OSB) Receives Average Rating of “Buy” from Analysts
Shares of Norbord Inc. (NYSE:OSB) have been assigned an average recommendation of “Buy” from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $37.06.
OSB has been the topic of a number of recent analyst reports. TD Securities increased their price objective on Norbord from $37.00 to $38.00 and gave the company a “buy” rating in a report on Monday, July 31st. Scotiabank reiterated a “buy” rating and issued a $44.25 price objective on shares of Norbord in a report on Tuesday, August 29th. BMO Capital Markets set a $28.00 price objective on Norbord and gave the company a “hold” rating in a report on Friday, July 28th. Zacks Investment Research downgraded Norbord from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Vertical Research downgraded Norbord from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th.
Large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its stake in Norbord by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 4,889 shares of the construction company’s stock worth $152,000 after buying an additional 198 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new stake in shares of Norbord in the 2nd quarter valued at approximately $205,000. Comerica Bank acquired a new stake in shares of Norbord in the 2nd quarter valued at approximately $233,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Norbord in the 1st quarter valued at approximately $204,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Norbord in the 2nd quarter valued at approximately $260,000. Hedge funds and other institutional investors own 80.86% of the company’s stock.
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Shares of Norbord (OSB) traded down 0.29% during midday trading on Friday, hitting $37.71. The stock had a trading volume of 102,430 shares. Norbord has a one year low of $21.40 and a one year high of $38.00. The firm has a 50 day moving average price of $33.80 and a 200 day moving average price of $30.67. The stock has a market cap of $3.25 billion, a PE ratio of 12.40 and a beta of 3.99.
Norbord (NYSE:OSB) last released its quarterly earnings data on Friday, July 28th. The construction company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by $0.01. Norbord had a net margin of 13.52% and a return on equity of 37.87%. The business had revenue of $536 million during the quarter. On average, equities analysts forecast that Norbord will post $3.82 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, September 1st will be issued a $0.398 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $1.59 dividend on an annualized basis and a dividend yield of 4.22%. This is an increase from Norbord’s previous quarterly dividend of $0.22. Norbord’s dividend payout ratio is presently 52.30%.
Norbord Company Profile
Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial customers primarily in North America and Europe. The company offers oriented strand boards for use in sheathing, flooring, and roofing in home construction applications; particleboards that are used in flooring and other construction applications; and medium density fiberboards for use in cabinet doors, mouldings, and interior wall paneling applications, as well as related value-added products for use in the construction of new homes, and renovation and repair of existing structures.
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