$2.16 Earnings Per Share Expected for Owens Corning (NYSE:OC) This Quarter

Equities analysts predict that Owens Corning (NYSE:OC) will announce $2.16 earnings per share for the current quarter, Zacks reports. Four analysts have issued estimates for Owens Corning’s earnings, with estimates ranging from $2.03 to $2.47. Owens Corning posted earnings of $0.88 per share in the same quarter last year, which suggests a positive year over year growth rate of 145.5%. The company is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, July 28th.

On average, analysts expect that Owens Corning will report full year earnings of $8.06 per share for the current year, with EPS estimates ranging from $7.85 to $8.15. For the next financial year, analysts anticipate that the business will post earnings of $8.72 per share, with EPS estimates ranging from $8.25 to $9.07. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Owens Corning.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, April 28th. The construction company reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.31. Owens Corning had a return on equity of 17.38% and a net margin of 10.10%. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year.

Several equities research analysts have commented on the company. Loop Capital boosted their target price on Owens Corning from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, April 29th. Royal Bank of Canada upped their price target on Owens Corning from $88.00 to $99.00 and gave the company a “sector perform” rating in a report on Thursday, April 29th. Northcoast Research reaffirmed a “neutral” rating on shares of Owens Corning in a report on Wednesday, April 21st. Wells Fargo & Company assumed coverage on Owens Corning in a report on Thursday, July 15th. They set an “equal weight” rating and a $102.00 price target on the stock. Finally, Zacks Investment Research downgraded Owens Corning from a “buy” rating to a “hold” rating and set a $103.00 price target on the stock. in a report on Tuesday, July 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Owens Corning presently has a consensus rating of “Hold” and a consensus price target of $89.00.

Owens Corning stock traded down $0.99 during mid-day trading on Friday, hitting $93.95. The company had a trading volume of 891 shares, compared to its average volume of 749,110. The company has a quick ratio of 1.28, a current ratio of 1.87 and a debt-to-equity ratio of 0.79. The business has a 50 day simple moving average of $99.68. Owens Corning has a 12 month low of $59.14 and a 12 month high of $109.89. The company has a market capitalization of $9.81 billion, a P/E ratio of 13.82 and a beta of 1.54.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 6th. Shareholders of record on Friday, July 16th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, July 15th. Owens Corning’s payout ratio is 19.96%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. MML Investors Services LLC increased its position in Owens Corning by 4.2% in the first quarter. MML Investors Services LLC now owns 3,986 shares of the construction company’s stock worth $367,000 after buying an additional 162 shares in the last quarter. Acadian Asset Management LLC increased its position in Owens Corning by 51.1% in the first quarter. Acadian Asset Management LLC now owns 500 shares of the construction company’s stock worth $46,000 after buying an additional 169 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Owens Corning by 0.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 55,609 shares of the construction company’s stock worth $4,213,000 after buying an additional 190 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Owens Corning by 0.7% in the first quarter. Louisiana State Employees Retirement System now owns 27,300 shares of the construction company’s stock worth $2,514,000 after buying an additional 200 shares in the last quarter. Finally, Spearhead Capital Advisors LLC increased its position in Owens Corning by 4.2% in the first quarter. Spearhead Capital Advisors LLC now owns 5,255 shares of the construction company’s stock worth $484,000 after buying an additional 210 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Owens Corning Company Profile

Owens Corning manufactures and markets a range of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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

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