Zacks: Analysts Expect Norbord Inc. (OSB) to Announce $1.38 EPS

Equities research analysts forecast that Norbord Inc. (NYSE:OSB) will report earnings per share (EPS) of $1.38 for the current quarter, according to Zacks. Zero analysts have provided estimates for Norbord’s earnings. The lowest EPS estimate is $1.18 and the highest is $1.57. Norbord posted earnings of $0.64 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 115.6%. The business is scheduled to announce its next quarterly earnings results before the market opens on Friday, February 2nd.

On average, analysts expect that Norbord will report full year earnings of $4.45 per share for the current year, with EPS estimates ranging from $4.25 to $4.65. For the next year, analysts expect that the business will report earnings of $3.73 per share, with EPS estimates ranging from $3.70 to $3.75. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Norbord.

Norbord (NYSE:OSB) last issued its quarterly earnings data on Friday, October 27th. The construction company reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.02. The firm had revenue of $578.00 million for the quarter. Norbord had a net margin of 16.33% and a return on equity of 42.38%.

Several brokerages have weighed in on OSB. Bank of America began coverage on shares of Norbord in a research note on Monday, October 2nd. They set a “sell” rating and a $41.00 price objective on the stock. Zacks Investment Research cut shares of Norbord from a “strong-buy” rating to a “hold” rating in a research note on Saturday, December 30th. TD Securities decreased their price target on shares of Norbord from $43.00 to $39.00 and set a “hold” rating on the stock in a research note on Monday, October 30th. Finally, Scotiabank reissued a “buy” rating and set a $55.00 price target on shares of Norbord in a research note on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $40.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. K.J. Harrison & Partners Inc grew its stake in shares of Norbord by 6.5% during the fourth quarter. K.J. Harrison & Partners Inc now owns 45,000 shares of the construction company’s stock valued at $1,530,000 after purchasing an additional 2,743 shares during the last quarter. APG Asset Management N.V. grew its stake in shares of Norbord by 374.8% during the fourth quarter. APG Asset Management N.V. now owns 226,000 shares of the construction company’s stock valued at $6,392,000 after purchasing an additional 178,400 shares during the last quarter. James Investment Research Inc. bought a new stake in shares of Norbord during the fourth quarter valued at approximately $1,962,000. Acadian Asset Management LLC grew its stake in shares of Norbord by 27.3% during the fourth quarter. Acadian Asset Management LLC now owns 1,649,749 shares of the construction company’s stock valued at $56,028,000 after purchasing an additional 354,300 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Norbord by 93.2% during the fourth quarter. Bank of Montreal Can now owns 581,963 shares of the construction company’s stock valued at $19,677,000 after purchasing an additional 280,807 shares during the last quarter. 79.62% of the stock is currently owned by institutional investors and hedge funds.

Shares of Norbord (NYSE:OSB) traded up $0.14 during trading on Monday, reaching $39.08. 36,531 shares of the company’s stock traded hands, compared to its average volume of 146,482. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.83 and a quick ratio of 1.15. The company has a market capitalization of $3,364.42, a PE ratio of 10.03, a price-to-earnings-growth ratio of 1.22 and a beta of 3.66. Norbord has a 1 year low of $24.55 and a 1 year high of $41.88.

Norbord announced that its board has approved a stock buyback plan on Friday, October 27th that authorizes the company to buyback 5,140,000 outstanding shares. This buyback authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

WARNING: This article was originally published by American Banking News and is owned by of American Banking News. If you are reading this article on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/01/29/zacks-analysts-expect-norbord-inc-osb-to-announce-1-38-eps.html.

Norbord Company Profile

Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial customers primarily in North America and Europe. The company offers oriented strand boards for use in sheathing, flooring, and roofing in home construction applications; particleboards that are used in flooring and other construction applications; and medium density fiberboards for use in cabinet doors, mouldings, and interior wall paneling applications, as well as related value-added products for use in the construction of new homes, and renovation and repair of existing structures.

Get a free copy of the Zacks research report on Norbord (OSB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Norbord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norbord and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply