Wall Street analysts predict that Owens Corning Inc (NYSE:OC) will report $1.01 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Owens Corning’s earnings. The lowest EPS estimate is $0.97 and the highest is $1.08. Owens Corning posted earnings of $0.72 per share in the same quarter last year, which would suggest a positive year over year growth rate of 40.3%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 14th.

According to Zacks, analysts expect that Owens Corning will report full year earnings of $4.32 per share for the current fiscal year, with EPS estimates ranging from $4.25 to $4.39. For the next financial year, analysts forecast that the company will report earnings of $5.08 per share, with EPS estimates ranging from $4.65 to $5.60. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Owens Corning.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.01). Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm posted $1.09 EPS. The company’s revenue was up 12.2% compared to the same quarter last year.

Several brokerages have issued reports on OC. Nomura upped their price objective on Owens Corning from $79.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Stifel Nicolaus restated a “buy” rating and set a $83.00 price objective on shares of Owens Corning in a research note on Thursday, October 26th. SunTrust Banks, Inc. upped their price objective on Owens Corning from $66.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Barclays PLC set a $75.00 price objective on Owens Corning and gave the company a “hold” rating in a research note on Thursday, October 26th. Finally, Royal Bank Of Canada upped their price objective on Owens Corning from $79.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $76.95.

TRADEMARK VIOLATION WARNING: “$1.01 EPS Expected for Owens Corning Inc (OC) This Quarter” was originally reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/11/14/1-01-eps-expected-for-owens-corning-inc-oc-this-quarter.html.

Shares of Owens Corning (NYSE:OC) opened at $82.20 on Tuesday. Owens Corning has a one year low of $50.17 and a one year high of $83.31. The stock has a market capitalization of $9,109.53, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 1.43 and a beta of 1.08. The company has a current ratio of 1.66, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 2nd. Shareholders of record on Monday, October 16th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Friday, October 13th. Owens Corning’s payout ratio is currently 23.88%.

In other news, Chairman Michael H. Thaman sold 130,700 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $74.95, for a total transaction of $9,795,965.00. Following the completion of the sale, the chairman now directly owns 847,992 shares of the company’s stock, valued at approximately $63,557,000.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kelly Schmidt sold 1,462 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $70.35, for a total value of $102,851.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 196,266 shares of company stock valued at $14,529,782. Corporate insiders own 1.80% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Grove Bank & Trust lifted its holdings in shares of Owens Corning by 213.5% in the third quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock valued at $126,000 after purchasing an additional 1,110 shares in the last quarter. Creative Planning lifted its holdings in shares of Owens Corning by 104.3% in the second quarter. Creative Planning now owns 2,043 shares of the construction company’s stock valued at $137,000 after purchasing an additional 1,043 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Owens Corning by 11.1% in the second quarter. Penserra Capital Management LLC now owns 2,964 shares of the construction company’s stock valued at $198,000 after purchasing an additional 296 shares in the last quarter. First Bank & Trust lifted its holdings in shares of Owens Corning by 3.6% in the second quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock valued at $202,000 after purchasing an additional 104 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Owens Corning in the third quarter valued at $202,000. 97.61% of the stock is owned by institutional investors and hedge funds.

About Owens Corning

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.

Get a free copy of the Zacks research report on Owens Corning (OC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Owens Corning (NYSE:OC)

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.