$1.02 EPS Expected for Owens Corning Inc (OC) This Quarter

Wall Street analysts forecast that Owens Corning Inc (NYSE:OC) will post earnings per share of $1.02 for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Owens Corning’s earnings, with the lowest EPS estimate coming in at $0.97 and the highest estimate coming in at $1.08. Owens Corning reported earnings of $0.72 per share during the same quarter last year, which indicates a positive year over year growth rate of 41.7%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, February 14th.

On average, analysts expect that Owens Corning will report full-year earnings of $4.33 per share for the current financial year, with EPS estimates ranging from $4.25 to $4.39. For the next fiscal year, analysts anticipate that the company will report earnings of $5.12 per share, with EPS estimates ranging from $4.65 to $5.60. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Owens Corning.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. Owens Corning’s revenue was up 12.2% on a year-over-year basis.

OC has been the subject of several recent research reports. SunTrust Banks raised their price objective on shares of Owens Corning to $85.00 and gave the company a “hold” rating in a research note on Tuesday, November 21st. Bank of America raised their price objective on shares of Owens Corning from $84.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, November 17th. Credit Suisse Group raised their price objective on shares of Owens Corning from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, November 17th. Nomura raised their price objective on shares of Owens Corning from $79.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Finally, Evercore ISI reissued an “outperform” rating and issued a $80.00 price objective (down previously from $88.00) on shares of Owens Corning in a research note on Wednesday, October 11th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Owens Corning currently has an average rating of “Buy” and an average price target of $78.70.

Shares of Owens Corning (OC) traded down $0.69 on Friday, hitting $87.66. 1,641,946 shares of the company’s stock were exchanged, compared to its average volume of 1,380,519. Owens Corning has a 1-year low of $50.77 and a 1-year high of $90.15. The firm has a market capitalization of $9,828.14, a PE ratio of 21.98, a PEG ratio of 1.33 and a beta of 1.09. 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. Investors of record on Monday, October 16th were paid a $0.20 dividend. The ex-dividend date was Friday, October 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.91%. Owens Corning’s dividend payout ratio is currently 23.88%.

In related news, CFO Michael C. Mcmurray sold 14,000 shares of Owens Corning stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $76.52, for a total value of $1,071,280.00. Following the completion of the transaction, the chief financial officer now owns 40,903 shares in the company, valued at $3,129,897.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John David Williams sold 3,684 shares of Owens Corning stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $88.64, for a total transaction of $326,549.76. Following the completion of the transaction, the director now owns 24,762 shares of the company’s stock, valued at approximately $2,194,903.68. The disclosure for this sale can be found here. Insiders sold 252,497 shares of company stock valued at $20,069,268 in the last quarter. 1.80% of the stock is owned by insiders.

Several large investors have recently modified their holdings of OC. Creative Planning lifted its position in shares of Owens Corning by 104.3% during the 2nd quarter. Creative Planning now owns 2,043 shares of the construction company’s stock worth $137,000 after buying an additional 1,043 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Owens Corning by 16.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 12,088 shares of the construction company’s stock valued at $809,000 after acquiring an additional 1,732 shares during the period. Rothschild Asset Management Inc. increased its holdings in shares of Owens Corning by 6.1% in the 2nd quarter. Rothschild Asset Management Inc. now owns 435,723 shares of the construction company’s stock valued at $29,159,000 after acquiring an additional 25,062 shares during the period. Ingalls & Snyder LLC increased its holdings in shares of Owens Corning by 7.1% in the 2nd quarter. Ingalls & Snyder LLC now owns 4,550 shares of the construction company’s stock valued at $304,000 after acquiring an additional 300 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Owens Corning by 0.5% in the 2nd quarter. Sei Investments Co. now owns 269,885 shares of the construction company’s stock valued at $18,060,000 after acquiring an additional 1,431 shares during the period. Institutional investors and hedge funds own 94.61% of the company’s stock.

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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.

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

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