Owens Corning (NYSE:OC) Expected to Post Earnings of $3.31 Per Share

Equities analysts expect Owens Corning (NYSE:OCGet Rating) to announce earnings of $3.31 per share for the current quarter, according to Zacks. Four analysts have made estimates for Owens Corning’s earnings, with the highest EPS estimate coming in at $3.41 and the lowest estimate coming in at $3.19. Owens Corning posted earnings of $2.60 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 27.3%. The business is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Owens Corning will report full year earnings of $11.65 per share for the current financial year, with EPS estimates ranging from $11.05 to $12.39. For the next fiscal year, analysts expect that the firm will post earnings of $11.44 per share, with EPS estimates ranging from $9.45 to $12.32. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Owens Corning.

Owens Corning (NYSE:OCGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The construction company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.42. Owens Corning had a return on equity of 24.44% and a net margin of 12.20%. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period last year, the business earned $1.73 EPS. The business’s revenue was up 22.5% on a year-over-year basis.

Several brokerages have recently issued reports on OC. Evercore ISI raised their target price on Owens Corning from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, February 17th. UBS Group began coverage on Owens Corning in a research report on Wednesday, January 19th. They set a “buy” rating and a $122.00 target price for the company. Truist Financial lowered Owens Corning from a “buy” rating to a “hold” rating and decreased their target price for the company from $115.00 to $85.00 in a research report on Tuesday, April 5th. Credit Suisse Group began coverage on Owens Corning in a research report on Tuesday, April 5th. They set a “neutral” rating and a $105.00 target price for the company. Finally, Jefferies Financial Group raised their target price on Owens Corning from $136.00 to $144.00 and gave the company a “buy” rating in a research report on Thursday, February 17th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Owens Corning presently has an average rating of “Buy” and an average target price of $108.75.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC boosted its stake in Owens Corning by 32.0% in the 1st quarter. Quadrant Capital Group LLC now owns 487 shares of the construction company’s stock worth $44,000 after purchasing an additional 118 shares during the period. First Bank & Trust boosted its stake in Owens Corning by 3.6% in the 1st quarter. First Bank & Trust now owns 3,461 shares of the construction company’s stock worth $316,000 after purchasing an additional 121 shares during the period. Convergence Investment Partners LLC boosted its stake in Owens Corning by 7.6% in the 1st quarter. Convergence Investment Partners LLC now owns 1,860 shares of the construction company’s stock worth $170,000 after purchasing an additional 132 shares during the period. CIBC World Markets Inc. boosted its stake in Owens Corning by 1.0% in the 4th quarter. CIBC World Markets Inc. now owns 15,140 shares of the construction company’s stock worth $1,370,000 after purchasing an additional 146 shares during the period. Finally, Canandaigua National Corp boosted its stake in Owens Corning by 4.2% in the 4th quarter. Canandaigua National Corp now owns 4,000 shares of the construction company’s stock worth $362,000 after purchasing an additional 163 shares during the period. Institutional investors and hedge funds own 92.55% of the company’s stock.

Shares of Owens Corning stock opened at $93.22 on Wednesday. Owens Corning has a 1 year low of $79.35 and a 1 year high of $109.24. The firm has a market cap of $9.05 billion, a PE ratio of 8.81, a P/E/G ratio of 0.59 and a beta of 1.37. The stock has a fifty day moving average price of $90.77 and a 200-day moving average price of $91.15. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.72 and a quick ratio of 1.14.

Owens Corning Company Profile (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.

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Earnings History and Estimates for Owens Corning (NYSE:OC)

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