Owens Corning (OC) to Release Quarterly Earnings on Wednesday

Owens Corning (NYSE:OC) will post its quarterly earnings results before the market opens on Wednesday, November 6th. Analysts expect Owens Corning to post earnings of $4.01 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating the consensus estimate of $4.37 by $0.27. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.22 EPS. On average, analysts expect Owens Corning to post $15 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Owens Corning Stock Performance

Shares of OC opened at $181.13 on Wednesday. The firm has a market capitalization of $15.75 billion, a P/E ratio of 15.34, a P/E/G ratio of 2.23 and a beta of 1.41. Owens Corning has a 52 week low of $111.57 and a 52 week high of $191.44. The stock has a 50 day moving average price of $173.33 and a two-hundred day moving average price of $172.65. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 18th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.33%. Owens Corning’s dividend payout ratio (DPR) is currently 20.32%.

Insider Transactions at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares in the company, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the sale, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OC. UBS Group lifted their price objective on shares of Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Thursday, October 24th. Wells Fargo & Company lifted their target price on shares of Owens Corning from $165.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Royal Bank of Canada upped their target price on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Evercore ISI lifted their price target on Owens Corning from $175.00 to $189.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and an average price target of $187.77.

Owens Corning Company Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.