Analysts Anticipate Owens Corning (OC) to Post $1.02 Earnings Per Share

Wall Street analysts expect Owens Corning (NYSE:OC) to post earnings of $1.02 per share for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Owens Corning’s earnings. The highest EPS estimate is $1.08 and the lowest is $0.97. Owens Corning posted earnings per share of $0.72 in the same quarter last year, which would indicate a positive year-over-year growth rate of 41.7%. The company is scheduled to announce its next quarterly 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 year, with EPS estimates ranging from $4.28 to $4.39. For the next fiscal year, analysts anticipate that the business will report earnings of $5.36 per share, with EPS estimates ranging from $5.02 to $5.85. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that cover Owens Corning.

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

A number of research analysts have issued reports on OC shares. Royal Bank of Canada reiterated a “buy” rating on shares of Owens Corning in a research report on Tuesday, October 3rd. Bank of America lifted their target price on Owens Corning from $84.00 to $97.00 and gave the company a “buy” rating in a research report on Friday, November 17th. Jefferies Group reiterated a “buy” rating and issued a $82.00 target price on shares of Owens Corning in a research report on Friday, October 6th. Stifel Nicolaus reiterated a “buy” rating and issued a $83.00 target price on shares of Owens Corning in a research report on Thursday, October 26th. Finally, Argus started coverage on Owens Corning in a research report on Wednesday, December 6th. They issued a “buy” rating and a $109.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $85.45.

In related news, VP Ava Harter sold 487 shares of Owens Corning stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $81.96, for a total value of $39,914.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Michael C. Mcmurray sold 18,000 shares of Owens Corning stock in a transaction that occurred on Monday, December 4th. The stock was 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 directly owns 52,228 shares in the company, valued at $4,741,257.84. The disclosure for this sale can be found here. Insiders have sold 129,933 shares of company stock worth $11,196,722 over the last three months. Insiders own 1.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Foster & Motley Inc. acquired a new position in shares of Owens Corning in the fourth quarter worth approximately $1,037,000. Personal Capital Advisors Corp lifted its stake in Owens Corning by 5.0% in the fourth quarter. Personal Capital Advisors Corp now owns 153,694 shares of the construction company’s stock valued at $14,131,000 after buying an additional 7,375 shares during the period. State of Alaska Department of Revenue acquired a new position in Owens Corning in the fourth quarter valued at approximately $634,000. BKD Wealth Advisors LLC lifted its stake in Owens Corning by 17.3% in the fourth quarter. BKD Wealth Advisors LLC now owns 5,674 shares of the construction company’s stock valued at $522,000 after buying an additional 836 shares during the period. Finally, Westpac Banking Corp acquired a new position in Owens Corning in the fourth quarter valued at approximately $648,000. 94.58% of the stock is currently owned by institutional investors.

Owens Corning (NYSE OC) traded up $0.33 during trading on Monday, reaching $96.36. The company’s stock had a trading volume of 649,892 shares, compared to its average volume of 756,179. Owens Corning has a 1 year low of $53.04 and a 1 year high of $96.40. 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 company has a market capitalization of $10,670.00, a PE ratio of 28.76, a PEG ratio of 1.17 and a beta of 1.09.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 17th. Stockholders of record on Tuesday, January 2nd were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.87%. This is a positive change from Owens Corning’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, December 29th. Owens Corning’s dividend payout ratio (DPR) is presently 25.07%.

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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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