Owens Corning (NYSE:OC) – Jefferies Group raised their Q2 2018 earnings per share (EPS) estimates for shares of Owens Corning in a note issued to investors on Wednesday. Jefferies Group analyst P. Ng now expects that the construction company will post earnings per share of $1.68 for the quarter, up from their prior forecast of $1.51. Jefferies Group currently has a “Buy” rating and a $82.00 target price on the stock. Jefferies Group also issued estimates for Owens Corning’s Q4 2018 earnings at $1.34 EPS, FY2018 earnings at $5.85 EPS and FY2019 earnings at $6.86 EPS.
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 analysts’ consensus estimates of $1.26 by ($0.01). The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. The firm’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 earnings per share.
Shares of Owens Corning (NYSE OC) traded up $0.67 during trading hours on Friday, hitting $95.62. The company had a trading volume of 711,400 shares, compared to its average volume of 784,867. The company has a quick ratio of 0.99, a current ratio of 1.66 and a debt-to-equity ratio of 0.62. The firm has a market cap of $10,670.00, a P/E ratio of 28.54, a price-to-earnings-growth ratio of 1.17 and a beta of 1.09. Owens Corning has a 1 year low of $53.04 and a 1 year high of $96.25.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd were given a $0.21 dividend. This is an increase from Owens Corning’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.88%. The ex-dividend date was Friday, December 29th. Owens Corning’s payout ratio is currently 25.07%.
In other news, Chairman Michael H. Thaman sold 101,600 shares of Owens Corning stock in a transaction dated 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 completion of the transaction, the chairman now owns 840,370 shares in the company, valued at approximately $71,708,772.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael C. Mcmurray sold 18,000 shares of Owens Corning stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $90.78, for a total value of $1,634,040.00. Following the completion of the transaction, the chief financial officer now owns 52,228 shares of the company’s stock, valued at approximately $4,741,257.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,933 shares of company stock valued at $11,196,722. 1.80% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in OC. Grove Bank & Trust boosted its stake in shares of Owens Corning by 213.5% in the 3rd quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock valued at $126,000 after buying an additional 1,110 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Owens Corning in the 3rd quarter valued at about $202,000. Worth Venture Partners LLC purchased a new position in shares of Owens Corning in the 3rd quarter valued at about $213,000. Advisors Asset Management Inc. boosted its stake in shares of Owens Corning by 214.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,764 shares of the construction company’s stock valued at $214,000 after buying an additional 1,885 shares during the period. Finally, Csenge Advisory Group purchased a new position in shares of Owens Corning in the 3rd quarter valued at about $245,000. Institutional investors and hedge funds own 94.55% of the company’s stock.
WARNING: This article was first reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another domain, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.americanbankingnews.com/2018/01/19/q2-2018-eps-estimates-for-owens-corning-raised-by-analyst-oc.html.
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.
Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.