Owens Corning Inc (NYSE:OC) – Research analysts at Jefferies Group dropped their Q3 2017 EPS estimates for Owens Corning in a research report issued on Thursday. Jefferies Group analyst P. Ng now forecasts that the construction company will post earnings per share of $1.17 for the quarter, down from their prior forecast of $1.25. Jefferies Group currently has a “Buy” rating and a $82.00 target price on the stock. Jefferies Group also issued estimates for Owens Corning’s Q4 2017 earnings at $1.03 EPS.
A number of other equities research analysts have also recently issued reports on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $79.00 target price on shares of Owens Corning in a research report on Friday. Stifel Nicolaus reissued a “buy” rating and issued a $83.00 target price on shares of Owens Corning in a research report on Friday. FBR & Co boosted their target price on shares of Owens Corning from $63.00 to $70.00 and gave the company a “mkt perform” rating in a research report on Thursday, July 27th. BidaskClub cut shares of Owens Corning from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, MKM Partners raised shares of Owens Corning from a “sell” rating to a “neutral” rating and boosted their target price for the company from $47.00 to $62.00 in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. Owens Corning currently has an average rating of “Buy” and a consensus target price of $70.53.
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Owens Corning (NYSE: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 company has a market capitalization of $7.46 billion, a P/E ratio of 19.26 and a beta of 1.11. The stock’s 50 day moving average is $65.98 and its 200-day moving average is $61.38.
Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, July 26th. The construction company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.48 billion. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $1.29 EPS.
Several hedge funds and other institutional investors have recently bought and sold shares of OC. First Bank & Trust boosted its position in 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 period. ARP Americas LLC bought a new position in Owens Corning during the second quarter worth approximately $318,000. Smithfield Trust Co. boosted its position in Owens Corning by 9.2% in the second quarter. Smithfield Trust Co. now owns 3,608 shares of the construction company’s stock worth $241,000 after buying an additional 304 shares during the period. Sei Investments Co. boosted its position in Owens Corning by 0.5% in the second quarter. Sei Investments Co. now owns 269,885 shares of the construction company’s stock worth $18,060,000 after buying an additional 1,431 shares during the period. Finally, Ingalls & Snyder LLC boosted its position in Owens Corning by 7.1% in the second quarter. Ingalls & Snyder LLC now owns 4,550 shares of the construction company’s stock worth $304,000 after buying an additional 300 shares during the period.
In other news, Director James J. Mcmonagle sold 2,000 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $64.60, for a total value of $129,200.00. Following the completion of the transaction, the director now owns 50,906 shares of the company’s stock, valued at $3,288,527.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Arnaud Genis sold 21,544 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $65.44, for a total transaction of $1,409,839.36. Following the completion of the transaction, the insider now directly owns 80,143 shares of the company’s stock, valued at approximately $5,244,557.92. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 2nd. Stockholders of record on Monday, July 17th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. Owens Corning’s dividend payout ratio (DPR) is currently 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.
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