$0.94 EPS Expected for Owens Corning (OC) This Quarter

Equities research analysts expect Owens Corning (NYSE:OC) to post earnings per share of $0.94 for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Owens Corning’s earnings. The highest EPS estimate is $1.04 and the lowest is $0.82. Owens Corning posted earnings per share of $0.85 in the same quarter last year, which suggests a positive year-over-year growth rate of 10.6%. The company is scheduled to issue its next quarterly earnings report on Wednesday, April 25th.

According to Zacks, analysts expect that Owens Corning will report full year earnings of $5.66 per share for the current fiscal year, with EPS estimates ranging from $5.07 to $5.95. For the next year, analysts anticipate that the company will post earnings of $6.70 per share, with EPS estimates ranging from $6.58 to $6.90. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Owens Corning.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, February 21st. The construction company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.07. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.52 billion. Owens Corning had a return on equity of 12.26% and a net margin of 4.53%. Owens Corning’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 earnings per share.

A number of research analysts recently commented on the company. Royal Bank of Canada set a $102.00 price target on Owens Corning and gave the company a “buy” rating in a report on Friday, February 23rd. MKM Partners increased their price target on Owens Corning to $86.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Credit Suisse Group reissued an “outperform” rating and issued a $110.00 price target (up previously from $95.00) on shares of Owens Corning in a report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research raised Owens Corning from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a report on Thursday, January 18th. Finally, KeyCorp restated a “buy” rating and set a $115.00 price objective on shares of Owens Corning in a research note on Friday, January 12th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Owens Corning currently has a consensus rating of “Buy” and an average target price of $87.95.

Several institutional investors have recently made changes to their positions in OC. BlackRock Inc. raised its position in shares of Owens Corning by 20.9% during the 4th quarter. BlackRock Inc. now owns 7,357,067 shares of the construction company’s stock worth $676,411,000 after purchasing an additional 1,273,051 shares during the period. Investec Asset Management LTD acquired a new stake in Owens Corning in the 3rd quarter valued at approximately $75,591,000. Wells Fargo & Company MN increased its position in Owens Corning by 278.4% in the 4th quarter. Wells Fargo & Company MN now owns 1,155,174 shares of the construction company’s stock valued at $106,206,000 after acquiring an additional 849,871 shares during the period. Allianz Asset Management GmbH increased its position in Owens Corning by 22.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,798,466 shares of the construction company’s stock valued at $139,112,000 after acquiring an additional 328,726 shares during the period. Finally, Principal Financial Group Inc. increased its position in Owens Corning by 213.0% in the 3rd quarter. Principal Financial Group Inc. now owns 436,865 shares of the construction company’s stock valued at $33,792,000 after acquiring an additional 297,311 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Shares of Owens Corning (OC) traded down $1.08 on Wednesday, reaching $82.31. The company had a trading volume of 269,789 shares, compared to its average volume of 1,240,000. The stock has a market capitalization of $9,200.00, a P/E ratio of 25.02, a P/E/G ratio of 0.83 and a beta of 1.08. Owens Corning has a 1 year low of $59.26 and a 1 year high of $96.52. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.55 and a quick ratio of 0.89.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 9th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, March 8th. Owens Corning’s payout ratio is 25.53%.

COPYRIGHT VIOLATION WARNING: This article was first reported by American Banking News and is the property of of American Banking News. If you are accessing this article on another domain, it was illegally copied and reposted in violation of U.S. & international copyright & trademark law. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/03/14/0-94-eps-expected-for-owens-corning-oc-this-quarter.html.

Owens Corning Company Profile

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.

Get a free copy of the Zacks research report on Owens Corning (OC)

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

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

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.

Leave a Reply