$1.16 EPS Expected for Owens Corning (OC) This Quarter

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Equities research analysts expect that Owens Corning (NYSE:OC) will report earnings of $1.16 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Owens Corning’s earnings, with estimates ranging from $1.07 to $1.32. Owens Corning posted earnings of $1.17 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 0.9%. The company is scheduled to announce its next quarterly earnings results on Wednesday, July 24th.

On average, analysts expect that Owens Corning will report full year earnings of $4.68 per share for the current financial year, with EPS estimates ranging from $4.45 to $4.89. For the next fiscal year, analysts anticipate that the business will post earnings of $5.44 per share, with EPS estimates ranging from $4.95 to $6.06. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Owens Corning.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.68 billion. Owens Corning had a return on equity of 12.10% and a net margin of 7.07%. Owens Corning’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 earnings per share.

A number of equities research analysts recently issued reports on the stock. TheStreet upgraded shares of Owens Corning from a “c+” rating to a “b-” rating in a research report on Thursday, February 14th. Citigroup set a $53.00 target price on shares of Owens Corning and gave the stock a “hold” rating in a research report on Tuesday, February 26th. Barclays set a $58.00 target price on shares of Owens Corning and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Buckingham Research assumed coverage on shares of Owens Corning in a research report on Friday, February 1st. They set a “neutral” rating and a $54.00 target price for the company. Finally, Zelman & Associates cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 26th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Owens Corning currently has a consensus rating of “Hold” and a consensus target price of $61.07.

In other Owens Corning news, insider Julian Francis sold 600 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $51.51, for a total value of $30,906.00. Following the completion of the sale, the insider now owns 76,662 shares in the company, valued at approximately $3,948,859.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gunner Smith sold 7,900 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $51.79, for a total transaction of $409,141.00. Following the completion of the sale, the insider now owns 21,189 shares of the company’s stock, valued at approximately $1,097,378.31. The disclosure for this sale can be found here. Insiders sold a total of 12,200 shares of company stock valued at $613,984 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of OC. Vanguard Group Inc grew its position in shares of Owens Corning by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 9,479,115 shares of the construction company’s stock worth $514,432,000 after buying an additional 58,689 shares during the period. Victory Capital Management Inc. grew its position in shares of Owens Corning by 14.1% during the 1st quarter. Victory Capital Management Inc. now owns 3,561,054 shares of the construction company’s stock worth $167,797,000 after buying an additional 439,337 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Owens Corning by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,227,752 shares of the construction company’s stock worth $152,086,000 after buying an additional 63,572 shares during the period. Long Pond Capital LP acquired a new stake in shares of Owens Corning during the 1st quarter worth approximately $151,179,000. Finally, Oregon Public Employees Retirement Fund grew its position in shares of Owens Corning by 5,667.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,135,185 shares of the construction company’s stock worth $49,000 after buying an additional 2,098,162 shares during the period. Hedge funds and other institutional investors own 96.21% of the company’s stock.

Shares of NYSE:OC traded up $0.93 during midday trading on Friday, reaching $49.92. 781,177 shares of the company’s stock were exchanged, compared to its average volume of 1,492,444. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 1.25 and a beta of 1.21. Owens Corning has a 12 month low of $40.64 and a 12 month high of $67.43. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.96 and a current ratio of 1.83.

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

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