Owens Corning Inc (NYSE:OC) Forecasted to Earn Q3 2017 Earnings of $1.25 Per Share

Owens Corning Inc (NYSE:OC) – Analysts at SunTrust Banks decreased their Q3 2017 earnings estimates for shares of Owens Corning in a report issued on Wednesday. SunTrust Banks analyst K. Hughes now expects that the construction company will post earnings per share of $1.25 for the quarter, down from their previous estimate of $1.27.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.12. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the company earned $1.29 EPS. The business’s revenue was up 3.4% compared to the same quarter last year.

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A number of other analysts have also issued reports on OC. Zacks Investment Research lowered Owens Corning from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th. Nomura started coverage on Owens Corning in a report on Wednesday, April 12th. They issued a “buy” rating and a $74.00 price target for the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $67.00 price target on shares of Owens Corning in a report on Friday, April 21st. FBR & Co boosted their price target on Owens Corning from $61.00 to $63.00 and gave the company a “mkt perform” rating in a report on Friday, April 28th. Finally, Jefferies Group LLC boosted their price target on Owens Corning from $71.00 to $72.00 and gave the company a “buy” rating in a report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. Owens Corning presently has an average rating of “Buy” and a consensus price target of $70.53.

Owens Corning (OC) opened at 67.05 on Monday. Owens Corning has a 12 month low of $46.45 and a 12 month high of $68.80. The stock has a 50 day moving average price of $65.98 and a 200 day moving average price of $61.38. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 19.26 and a beta of 1.11.

Several institutional investors have recently modified their holdings of the company. Creative Planning increased its position in shares of Owens Corning by 104.3% in the second quarter. Creative Planning now owns 2,043 shares of the construction company’s stock worth $137,000 after buying an additional 1,043 shares during the last quarter. Point72 Asia Hong Kong Ltd increased its position in shares of Owens Corning by 457.1% in the first quarter. Point72 Asia Hong Kong Ltd now owns 2,301 shares of the construction company’s stock worth $141,000 after buying an additional 1,888 shares during the last quarter. IFP Advisors Inc increased its position in shares of Owens Corning by 45.3% in the first quarter. IFP Advisors Inc now owns 2,558 shares of the construction company’s stock worth $157,000 after buying an additional 798 shares during the last quarter. Penserra Capital Management LLC increased its position in shares of Owens Corning by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,668 shares of the construction company’s stock worth $163,000 after buying an additional 232 shares during the last quarter. Finally, First Bank & Trust increased its position in shares of Owens Corning by 3.6% in the second quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock worth $202,000 after buying an additional 104 shares during the last quarter.

In other news, Director James J. Mcmonagle sold 2,000 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $64.60, for a total transaction of $129,200.00. Following the transaction, the director now directly owns 50,906 shares of the company’s stock, valued at $3,288,527.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Arnaud Genis sold 21,544 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $65.44, for a total value of $1,409,839.36. Following the transaction, the insider now directly owns 80,143 shares in the company, valued at $5,244,557.92. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 2nd. Stockholders of record on Monday, July 17th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, July 13th. Owens Corning’s payout ratio is presently 23.05%.

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.

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

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