$1.02 Earnings Per Share Expected for Owens Corning (OC) This Quarter
Equities analysts expect that Owens Corning (NYSE:OC) will post earnings of $1.02 per share for the current fiscal quarter, according to Zacks. Seven analysts have issued 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 in the same quarter last year, which suggests a positive year-over-year growth rate of 41.7%. The firm is expected to report its next earnings results on Wednesday, February 14th.
On average, analysts expect that Owens Corning will report full year earnings of $4.34 per share for the current fiscal year, with EPS estimates ranging from $4.28 to $4.39. For the next financial year, analysts expect that the company will post earnings of $5.20 per share, with EPS estimates ranging from $4.78 to $5.60. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Owens Corning.
Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.01). The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.09 EPS.
Shares of Owens Corning (OC) traded up $0.77 during mid-day trading on Friday, hitting $94.42. The company’s stock had a trading volume of 908,159 shares, compared to its average volume of 724,433. The stock has a market capitalization of $10,500.00, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 1.20 and a beta of 1.09. Owens Corning has a 12 month low of $50.77 and a 12 month high of $94.99. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.99 and a current ratio of 1.66.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.89%. This is an increase from Owens Corning’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, December 29th. Owens Corning’s dividend payout ratio (DPR) is presently 25.07%.
In related news, Director W Howard Morris sold 2,026 shares of Owens Corning stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $81.95, for a total transaction of $166,030.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Michael H. Thaman sold 101,600 shares of Owens Corning stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $85.33, for a total value of $8,669,528.00. Following the transaction, the chairman now owns 840,370 shares of the company’s stock, valued at $71,708,772.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 129,933 shares of company stock valued at $11,196,722. Insiders own 1.80% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. TIAA FSB acquired a new position in Owens Corning in the 3rd quarter valued at $3,022,000. Great West Life Assurance Co. Can raised its holdings in Owens Corning by 636.1% in the 3rd quarter. Great West Life Assurance Co. Can now owns 83,956 shares of the construction company’s stock valued at $6,476,000 after acquiring an additional 72,551 shares during the last quarter. Dana Investment Advisors Inc. raised its holdings in Owens Corning by 4.9% in the 3rd quarter. Dana Investment Advisors Inc. now owns 496,736 shares of the construction company’s stock valued at $38,423,000 after acquiring an additional 23,180 shares during the last quarter. Columbus Circle Investors acquired a new position in Owens Corning in the 3rd quarter valued at $21,351,000. Finally, Sterling Capital Management LLC raised its holdings in Owens Corning by 137.9% in the 3rd quarter. Sterling Capital Management LLC now owns 45,970 shares of the construction company’s stock valued at $3,556,000 after acquiring an additional 26,650 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.
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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.
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