Owens Corning (OC) Scheduled to Post Earnings on Wednesday

Owens Corning (NYSE:OCGet Rating) is scheduled to post its quarterly earnings results before the market opens on Wednesday, April 27th. Analysts expect Owens Corning to post earnings of $2.43 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Owens Corning (NYSE:OCGet Rating) last announced its quarterly earnings results on Wednesday, February 16th. The construction company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. Owens Corning had a net margin of 11.71% and a return on equity of 22.58%. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter last year, the company earned $1.90 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts expect Owens Corning to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Shares of NYSE:OC opened at $87.65 on Wednesday. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 0.59 and a beta of 1.47. Owens Corning has a fifty-two week low of $79.35 and a fifty-two week high of $109.89. The business’s fifty day moving average price is $91.11 and its two-hundred day moving average price is $91.00. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.19.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 7th. Shareholders of record on Friday, March 4th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, March 3rd. Owens Corning’s dividend payout ratio is presently 14.69%.

Several hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley increased its position in Owens Corning by 157.2% during the 2nd quarter. Morgan Stanley now owns 398,817 shares of the construction company’s stock valued at $39,043,000 after purchasing an additional 243,775 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Owens Corning by 33.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 555,037 shares of the construction company’s stock worth $50,231,000 after buying an additional 139,152 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in Owens Corning by 58.0% in the fourth quarter. Allianz Asset Management GmbH now owns 355,285 shares of the construction company’s stock worth $32,143,000 after purchasing an additional 130,395 shares during the period. Marshall Wace LLP bought a new stake in Owens Corning in the 4th quarter valued at about $6,449,000. Finally, Parametric Portfolio Associates LLC raised its position in shares of Owens Corning by 9.8% during the fourth quarter. Parametric Portfolio Associates LLC now owns 296,730 shares of the construction company’s stock worth $26,854,000 after purchasing an additional 26,500 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently commented on OC shares. Royal Bank of Canada upped their price objective on shares of Owens Corning from $97.00 to $105.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 22nd. Jefferies Financial Group lifted their price objective on shares of Owens Corning from $136.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, February 17th. StockNews.com assumed coverage on Owens Corning in a research report on Thursday, March 31st. They set a “buy” rating for the company. Zacks Investment Research cut shares of Owens Corning from a “buy” rating to a “hold” rating and set a $91.00 target price for the company. in a research note on Tuesday. Finally, Barclays dropped their target price on shares of Owens Corning from $116.00 to $111.00 in a report on Thursday, March 31st. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $111.67.

About Owens Corning (Get Rating)

Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

Further Reading

Earnings History for Owens Corning (NYSE:OC)

Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.