Owens Corning (OC) Scheduled to Post Quarterly Earnings on Wednesday

Owens Corning (NYSE:OC) is scheduled to release its earnings data before the market opens on Wednesday, April 24th. Analysts expect Owens Corning to post earnings of $3.03 per share for the quarter. Persons 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 data on Wednesday, February 14th. The construction company reported $3.21 EPS for the quarter, beating the consensus estimate of $2.82 by $0.39. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the business earned $2.49 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts expect Owens Corning to post $14 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Owens Corning Stock Down 0.2 %

Shares of NYSE OC opened at $163.54 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.50. Owens Corning has a 52 week low of $98.00 and a 52 week high of $173.65. The firm has a 50-day moving average price of $157.35 and a 200 day moving average price of $144.72. The stock has a market capitalization of $14.23 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 0.29 and a beta of 1.47.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Friday, March 1st. Owens Corning’s dividend payout ratio (DPR) is 18.29%.

Wall Street Analysts Forecast Growth

OC has been the subject of several recent research reports. Royal Bank of Canada dropped their target price on shares of Owens Corning from $183.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Evercore ISI downgraded shares of Owens Corning from an “outperform” rating to an “in-line” rating and dropped their target price for the company from $163.00 to $154.00 in a report on Thursday, February 15th. UBS Group dropped their target price on shares of Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a report on Thursday, February 15th. Barclays downgraded shares of Owens Corning from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $170.00 to $160.00 in a report on Monday, February 12th. Finally, Citigroup lifted their price target on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $162.14.

Insider Activity at Owens Corning

In related news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the sale, the executive vice president now directly owns 20,419 shares in the company, valued at $3,307,878. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Owens Corning news, insider Gunner Smith sold 7,442 shares of Owens Corning stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the transaction, the insider now directly owns 36,140 shares of the company’s stock, valued at $5,384,498.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Paula Russell sold 3,765 shares of Owens Corning stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the transaction, the executive vice president now directly owns 20,419 shares in the company, valued at $3,307,878. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,672 shares of company stock worth $3,325,799. 0.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Eqis Capital Management Inc. acquired a new position in shares of Owens Corning during the first quarter worth $210,000. Atlas Capital Advisors LLC raised its holdings in Owens Corning by 25.8% in the fourth quarter. Atlas Capital Advisors LLC now owns 1,938 shares of the construction company’s stock valued at $165,000 after acquiring an additional 398 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Owens Corning by 7.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,011 shares of the construction company’s stock valued at $150,000 after acquiring an additional 69 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in Owens Corning in the second quarter valued at $91,000. Finally, Trium Capital LLP acquired a new stake in Owens Corning in the first quarter valued at $67,000. 88.40% of the stock is owned by institutional investors and hedge funds.

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.