Owens Corning (NYSE:OC) – Investment analysts at KeyCorp issued their FY2019 earnings per share (EPS) estimates for shares of Owens Corning in a report issued on Monday. KeyCorp analyst K. Zener expects that the construction company will post earnings of $6.63 per share for the year. KeyCorp currently has a “Buy” rating and a $115.00 target price on the stock.
Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, February 21st. The construction company reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.07. Owens Corning had a net margin of 4.53% and a return on equity of 12.26%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the company posted $0.72 earnings per share. The firm’s revenue was up 16.1% compared to the same quarter last year.
Several other analysts have also commented on the stock. Royal Bank of Canada set a $102.00 price target on shares of Owens Corning and gave the company a “buy” rating in a research report on Friday, February 23rd. MKM Partners raised their price target on shares of Owens Corning to $86.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Credit Suisse Group restated an “outperform” rating and set a $110.00 price target (up previously from $95.00) on shares of Owens Corning in a research report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Owens Corning from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research report on Thursday, January 18th. Finally, Seaport Global Securities raised their price target on shares of Owens Corning from $90.00 to $107.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $87.95.
Owens Corning (NYSE:OC) traded down $1.28 during mid-day trading on Wednesday, reaching $82.11. 433,715 shares of the company traded hands, compared to its average volume of 1,016,343. The firm has a market capitalization of $9,200.00, a price-to-earnings ratio of 25.02, a PEG ratio of 0.83 and a beta of 1.08. The company has a current ratio of 1.55, a quick ratio of 0.89 and a debt-to-equity ratio of 0.57. Owens Corning has a 52 week low of $59.26 and a 52 week high of $96.52.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Friday, March 9th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Thursday, March 8th. Owens Corning’s dividend payout ratio (DPR) is presently 25.53%.
A number of hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its stake in Owens Corning by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 3,689 shares of the construction company’s stock worth $247,000 after purchasing an additional 304 shares during the period. Worth Venture Partners LLC boosted its position in shares of Owens Corning by 20.7% in the fourth quarter. Worth Venture Partners LLC now owns 3,320 shares of the construction company’s stock worth $306,000 after acquiring an additional 570 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of Owens Corning by 18.6% in the fourth quarter. Penserra Capital Management LLC now owns 3,990 shares of the construction company’s stock worth $366,000 after acquiring an additional 627 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Owens Corning by 2.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,472 shares of the construction company’s stock worth $1,738,000 after acquiring an additional 632 shares during the last quarter. Finally, ETRADE Capital Management LLC boosted its position in shares of Owens Corning by 5.4% in the fourth quarter. ETRADE Capital Management LLC now owns 12,534 shares of the construction company’s stock worth $1,152,000 after acquiring an additional 639 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.
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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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