Norbord Inc. (NYSE:OSB) announced a quarterly dividend on Monday, February 5th, Wall Street Journal reports. Stockholders of record on Thursday, March 1st will be given a dividend of 0.4862 per share by the construction company on Wednesday, March 21st. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date of this dividend is Wednesday, February 28th. This is an increase from Norbord’s previous quarterly dividend of $0.47.
Norbord has a payout ratio of 42.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Norbord to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.87 annual dividend with an expected future payout ratio of 74.8%.
Shares of Norbord (NYSE:OSB) traded up $0.74 during trading on Monday, hitting $35.77. 179,044 shares of the company traded hands, compared to its average volume of 168,343. Norbord has a 52-week low of $27.00 and a 52-week high of $41.88. The company has a quick ratio of 1.20, a current ratio of 1.83 and a debt-to-equity ratio of 0.54. The stock has a market cap of $3,026.59, a price-to-earnings ratio of 7.07, a P/E/G ratio of 1.12 and a beta of 3.38.
Norbord (NYSE:OSB) last posted its quarterly earnings results on Friday, February 2nd. The construction company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.03. The company had revenue of $596.00 million during the quarter. Norbord had a net margin of 20.03% and a return on equity of 45.78%. analysts anticipate that Norbord will post 3.63 EPS for the current year.
Norbord declared that its board has authorized a stock repurchase plan on Friday, October 27th that permits the company to buyback 5,140,000 shares. This buyback authorization permits the construction company to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
Several research firms have recently weighed in on OSB. Zacks Investment Research lowered shares of Norbord from a “buy” rating to a “hold” rating in a report on Thursday. TD Securities lifted their price target on shares of Norbord from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Monday, February 5th. ValuEngine raised shares of Norbord from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Bank of America set a $31.00 price target on shares of Norbord and gave the company a “sell” rating in a research note on Wednesday, January 24th. Finally, Scotiabank reaffirmed a “buy” rating and set a $55.00 target price on shares of Norbord in a research note on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $40.00.
Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial customers 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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