Owens Corning Inc (OC) Expected to Post Q3 2017 Earnings of $1.18 Per Share
Owens Corning Inc (NYSE:OC) – Equities research analysts at Jefferies Group increased their Q3 2017 earnings estimates for Owens Corning in a report issued on Thursday. Jefferies Group analyst P. Ng now anticipates that the construction company will earn $1.18 per share for the quarter, up from their prior estimate of $1.17. Jefferies Group has a “Buy” rating and a $82.00 price objective on the stock. Jefferies Group also issued estimates for Owens Corning’s Q4 2017 earnings at $1.04 EPS and Q4 2018 earnings at $1.27 EPS.
A number of other equities research analysts also recently weighed in on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $83.00 price target on shares of Owens Corning in a research report on Friday, September 1st. Wells Fargo & Company upgraded shares of Owens Corning from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $68.00 to $83.00 in a research report on Wednesday, August 30th. Instinet downgraded shares of Owens Corning from a “buy” rating to a “neutral” rating and lifted their price target for the company from $74.00 to $79.00 in a research report on Monday, September 11th. KeyCorp reiterated a “buy” rating and issued a $84.00 price target on shares of Owens Corning in a research report on Wednesday, September 13th. Finally, BidaskClub downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Owens Corning presently has an average rating of “Buy” and an average price target of $74.89.
ILLEGAL ACTIVITY WARNING: “Owens Corning Inc (OC) Expected to Post Q3 2017 Earnings of $1.18 Per Share” was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/10/23/owens-corning-inc-oc-expected-to-post-q3-2017-earnings-of-1-18-per-share.html.
Owens Corning (NYSE:OC) opened at 80.11 on Monday. The stock has a 50 day moving average price of $77.14 and a 200 day moving average price of $67.75. Owens Corning has a 1-year low of $46.45 and a 1-year high of $80.56. The firm has a market capitalization of $8.91 billion, a price-to-earnings ratio of 23.01 and a beta of 1.05.
Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.12. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.48 billion. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 EPS.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 2nd. Stockholders of record on Monday, October 16th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, October 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.00%. Owens Corning’s dividend payout ratio (DPR) is presently 23.05%.
In other news, insider Brian Chambers sold 16,600 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $67.18, for a total transaction of $1,115,188.00. Following the completion of the transaction, the insider now directly owns 39,957 shares in the company, valued at $2,684,311.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arnaud Genis sold 6,000 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $70.75, for a total transaction of $424,500.00. Following the transaction, the insider now owns 58,374 shares of the company’s stock, valued at $4,129,960.50. The disclosure for this sale can be found here. Insiders have sold 212,866 shares of company stock valued at $15,644,970 over the last quarter. Company insiders own 1.80% of the company’s stock.
Several large investors have recently made changes to their positions in the company. APG Asset Management N.V. acquired a new position in shares of Owens Corning during the third quarter worth $7,379,000. Barometer Capital Management Inc. increased its holdings in shares of Owens Corning by 37.5% during the third quarter. Barometer Capital Management Inc. now owns 267,700 shares of the construction company’s stock worth $20,707,000 after buying an additional 73,000 shares in the last quarter. Carnick & Kubik Group LLC acquired a new position in shares of Owens Corning during the third quarter worth $1,358,000. Murphy Capital Management Inc. increased its holdings in shares of Owens Corning by 13.8% during the third quarter. Murphy Capital Management Inc. now owns 7,000 shares of the construction company’s stock worth $541,000 after buying an additional 850 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Owens Corning by 13.3% during the third quarter. Fisher Asset Management LLC now owns 395,746 shares of the construction company’s stock worth $30,611,000 after buying an additional 46,456 shares in the last quarter. Institutional investors own 96.76% of the company’s stock.
Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
Receive News & Ratings for Owens Corning Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning Inc and related companies with MarketBeat.com's FREE daily email newsletter.