Norbord Inc. (OSB) Expected to Announce Earnings of $1.23 Per Share
Wall Street analysts forecast that Norbord Inc. (NYSE:OSB) will post $1.23 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Norbord’s earnings. The lowest EPS estimate is $1.22 and the highest is $1.24. Norbord reported earnings of $0.67 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 83.6%. The business is scheduled to report its next quarterly earnings report on Friday, October 27th.
On average, analysts expect that Norbord will report full-year earnings of $3.74 per share for the current fiscal year, with EPS estimates ranging from $3.72 to $3.75. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.12 per share, with EPS estimates ranging from $3.08 to $3.15. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Norbord.
Norbord (NYSE:OSB) last posted its earnings results on Friday, July 28th. The construction company reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.01). Norbord had a net margin of 13.52% and a return on equity of 37.87%. The firm had revenue of $536.00 million for the quarter.
A number of research analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Norbord from $28.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, July 31st. Zacks Investment Research downgraded shares of Norbord from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. TD Securities lifted their price target on shares of Norbord from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Bank of America Corporation assumed coverage on shares of Norbord in a research note on Monday, October 2nd. They issued a “sell” rating and a $41.00 price target for the company. Finally, Vertical Research downgraded shares of Norbord from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Norbord presently has an average rating of “Buy” and a consensus price target of $38.05.
Several large investors have recently modified their holdings of the company. Eqis Capital Management Inc. purchased a new stake in shares of Norbord during the 3rd quarter worth approximately $334,000. United Bank VA purchased a new stake in shares of Norbord during the 2nd quarter worth approximately $2,099,000. Scotia Capital Inc. lifted its position in shares of Norbord by 103.4% during the 2nd quarter. Scotia Capital Inc. now owns 107,433 shares of the construction company’s stock worth $3,336,000 after buying an additional 54,604 shares during the last quarter. Bank of Nova Scotia purchased a new stake in shares of Norbord during the 2nd quarter worth approximately $367,000. Finally, Royal Bank of Canada lifted its position in shares of Norbord by 10.1% during the 2nd quarter. Royal Bank of Canada now owns 2,073,664 shares of the construction company’s stock worth $64,573,000 after buying an additional 189,967 shares during the last quarter. Institutional investors and hedge funds own 80.87% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 21st. Stockholders of record on Friday, September 1st were given a dividend of $0.398 per share. This represents a $1.59 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend was Wednesday, August 30th. This is an increase from Norbord’s previous quarterly dividend of $0.22. Norbord’s payout ratio is currently 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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