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.
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%.
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.
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