Q2 2018 EPS Estimates for Owens Corning Raised by Analyst (OC)

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.

OC has been the subject of a number of other reports. Royal Bank of Canada reissued a “buy” rating on shares of Owens Corning in a research report on Tuesday, October 3rd. Evercore ISI reissued an “outperform” rating and set a $80.00 price objective (down from $88.00) on shares of Owens Corning in a research report on Wednesday, October 11th. Wells Fargo & Co reissued an “outperform” rating on shares of Owens Corning in a research report on Thursday, October 26th. KeyCorp reissued a “buy” rating and set a $115.00 price objective on shares of Owens Corning in a research report on Friday, January 12th. Finally, SunTrust Banks raised their price objective on Owens Corning from $66.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $84.77.

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.

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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.

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

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