Zacks: Brokerages Expect Norbord Inc. (OSB) to Post $0.86 EPS

Equities research analysts expect Norbord Inc. (NYSE:OSB) to report earnings of $0.86 per share for the current quarter, according to Zacks. Zero analysts have made estimates for Norbord’s earnings, with the lowest EPS estimate coming in at $0.84 and the highest estimate coming in at $0.88. Norbord posted earnings per share of $0.58 during the same quarter last year, which indicates a positive year-over-year growth rate of 48.3%. The business is expected to issue its next quarterly earnings results on Tuesday, May 1st.

On average, analysts expect that Norbord will report full-year earnings of $3.63 per share for the current year, with EPS estimates ranging from $3.50 to $3.75. For the next financial year, analysts expect that the company will report earnings of $2.50 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Norbord.

Norbord (NYSE:OSB) last posted its quarterly earnings data on Friday, February 2nd. The construction company reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.03. The business had revenue of $596.00 million during the quarter. Norbord had a return on equity of 45.78% and a net margin of 20.03%.

A number of brokerages have recently issued reports on OSB. TD Securities lifted their price target on Norbord from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday, February 5th. ValuEngine raised Norbord from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Bank of America set a $31.00 price target on Norbord and gave the stock a “sell” rating in a research note on Wednesday, January 24th. Zacks Investment Research lowered Norbord from a “strong-buy” rating to a “hold” rating in a research note on Saturday, December 30th. Finally, Scotiabank reaffirmed a “buy” rating and issued 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, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $40.00.

Shares of Norbord (NYSE:OSB) traded down $0.45 during trading hours on Thursday, hitting $36.38. The stock had a trading volume of 42,230 shares, compared to its average volume of 159,443. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.83 and a quick ratio of 1.20. The firm has a market capitalization of $3,121.70, a price-to-earnings ratio of 7.24, a PEG ratio of 1.16 and a beta of 3.38. Norbord has a 12-month low of $27.00 and a 12-month high of $41.88.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Thursday, March 1st will be paid a $0.4862 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This is a positive change from Norbord’s previous quarterly dividend of $0.47. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.35%. Norbord’s payout ratio is currently 37.45%.

Norbord announced that its Board of Directors has initiated a share buyback program on Friday, October 27th that permits the company to repurchase 5,140,000 outstanding shares. This repurchase authorization permits the construction company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Several large investors have recently modified their holdings of OSB. Alliancebernstein L.P. acquired a new position in Norbord during the second quarter worth $1,276,000. Vanguard Group Inc. boosted its stake in Norbord by 6.4% during the second quarter. Vanguard Group Inc. now owns 868,147 shares of the construction company’s stock worth $27,034,000 after buying an additional 51,945 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new position in Norbord during the second quarter worth $205,000. Dimensional Fund Advisors LP acquired a new position in Norbord during the second quarter worth $260,000. Finally, OxFORD Asset Management LLP acquired a new position in Norbord during the second quarter worth $284,000. 79.17% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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