Zacks: Analysts Expect Owens Corning (NYSE:OC) to Announce $1.51 Earnings Per Share
Wall Street brokerages predict that Owens Corning (NYSE:OC) will announce earnings of $1.51 per share for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Owens Corning’s earnings, with estimates ranging from $1.46 to $1.57. Owens Corning posted earnings of $1.54 per share in the same quarter last year, which would suggest a negative year over year growth rate of 1.9%. The business is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, October 23rd.
On average, analysts expect that Owens Corning will report full-year earnings of $4.69 per share for the current financial year, with EPS estimates ranging from $4.60 to $4.79. For the next financial year, analysts anticipate that the business will post earnings of $5.36 per share, with EPS estimates ranging from $5.06 to $5.75. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Owens Corning.
Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, July 24th. The construction company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.18. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.83 billion. Owens Corning had a return on equity of 12.18% and a net margin of 7.21%. Owens Corning’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.17 earnings per share.
In related news, Director W Howard Morris sold 2,773 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $54.69, for a total transaction of $151,655.37. Following the transaction, the director now directly owns 37,090 shares in the company, valued at $2,028,452.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kelly Schmidt sold 1,589 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $60.53, for a total value of $96,182.17. Following the transaction, the vice president now owns 15,264 shares in the company, valued at $923,929.92. The disclosure for this sale can be found here. Insiders have sold 42,362 shares of company stock worth $2,402,018 over the last quarter. 1.70% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank grew its stake in Owens Corning by 5.6% during the 2nd quarter. Comerica Bank now owns 5,407 shares of the construction company’s stock valued at $303,000 after purchasing an additional 289 shares in the last quarter. ETRADE Capital Management LLC grew its stake in Owens Corning by 5.8% during the 2nd quarter. ETRADE Capital Management LLC now owns 5,759 shares of the construction company’s stock valued at $335,000 after purchasing an additional 317 shares in the last quarter. MBM Wealth Consultants LLC grew its stake in Owens Corning by 4.2% during the 2nd quarter. MBM Wealth Consultants LLC now owns 7,994 shares of the construction company’s stock valued at $465,000 after purchasing an additional 323 shares in the last quarter. IFM Investors Pty Ltd grew its stake in Owens Corning by 6.8% during the 2nd quarter. IFM Investors Pty Ltd now owns 5,532 shares of the construction company’s stock valued at $322,000 after purchasing an additional 350 shares in the last quarter. Finally, Private Capital Group LLC grew its stake in Owens Corning by 95.8% during the 2nd quarter. Private Capital Group LLC now owns 793 shares of the construction company’s stock valued at $50,000 after purchasing an additional 388 shares in the last quarter. Hedge funds and other institutional investors own 97.90% of the company’s stock.
OC traded down $0.20 during trading on Wednesday, reaching $61.25. 26,071 shares of the stock were exchanged, compared to its average volume of 2,600,845. The business’s 50 day moving average price is $59.11 and its two-hundred day moving average price is $54.25. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.69 and a quick ratio of 0.89. The company has a market capitalization of $6.69 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 1.58 and a beta of 1.24. Owens Corning has a 1 year low of $40.64 and a 1 year high of $63.61.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Tuesday, October 15th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.88 annualized dividend and a dividend yield of 1.44%. Owens Corning’s dividend payout ratio is currently 17.81%.
Owens Corning Company Profile
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
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