Norbord Inc (OSB) Expected to Announce Earnings of $0.86 Per Share

Equities research analysts forecast that Norbord Inc (NYSE:OSB) will report earnings of $0.86 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Norbord’s earnings. Norbord posted earnings of $1.39 per share during the same quarter last year, which would suggest a negative year over year growth rate of 38.1%. The firm is expected to announce its next quarterly earnings report on Friday, October 26th.

According to Zacks, analysts expect that Norbord will report full-year earnings of $4.60 per share for the current year. For the next financial year, analysts anticipate that the company will post earnings of $3.65 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Norbord.

Norbord (NYSE:OSB) last posted its quarterly earnings results on Thursday, August 2nd. The construction company reported $1.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.31. The business had revenue of $707.00 million for the quarter, compared to the consensus estimate of $682.27 million. Norbord had a return on equity of 48.17% and a net margin of 22.75%. The company’s quarterly revenue was up 31.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.10 EPS.

A number of analysts have recently commented on OSB shares. ValuEngine downgraded Norbord from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Zacks Investment Research downgraded Norbord from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 6th. Finally, Vertical Research upgraded Norbord from a “hold” rating to a “buy” rating in a research note on Thursday. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $42.29.

Shares of OSB traded down $0.61 during mid-day trading on Friday, reaching $27.27. The company had a trading volume of 265,908 shares, compared to its average volume of 153,919. Norbord has a 52-week low of $26.61 and a 52-week high of $45.45. The company has a quick ratio of 1.83, a current ratio of 2.69 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 6.07, a PEG ratio of 0.97 and a beta of 2.41.

The business also recently announced a quarterly dividend, which was paid on Friday, September 21st. Stockholders of record on Saturday, September 1st were paid a $3.459 dividend. This is an increase from Norbord’s previous quarterly dividend of $0.47. The ex-dividend date was Thursday, August 30th. This represents a $13.84 dividend on an annualized basis and a dividend yield of 50.74%. Norbord’s dividend payout ratio is presently 306.68%.

Several institutional investors and hedge funds have recently modified their holdings of OSB. Highstreet Asset Management Inc. boosted its stake in shares of Norbord by 2,025.7% in the second quarter. Highstreet Asset Management Inc. now owns 4,294 shares of the construction company’s stock worth $177,000 after buying an additional 4,092 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new position in Norbord in the 2nd quarter worth about $264,000. Intercontinental Wealth Advisors LLC acquired a new position in Norbord in the 2nd quarter worth about $291,000. Cubist Systematic Strategies LLC raised its holdings in Norbord by 18.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 10,747 shares of the construction company’s stock worth $390,000 after purchasing an additional 1,654 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Norbord by 128.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,324 shares of the construction company’s stock worth $466,000 after purchasing an additional 6,372 shares during the period. Hedge funds and other institutional investors own 76.86% of the company’s stock.

Norbord Company Profile

Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial manufacturers 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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