Owens Corning (NYSE:OC) will release its earnings data before the market opens on Wednesday, October 23rd. Analysts expect Owens Corning to post earnings of $1.50 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.
Owens Corning (NYSE:OC) last released its earnings results on Wednesday, July 24th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.18. Owens Corning had a return on equity of 12.18% and a net margin of 7.21%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. Owens Corning’s revenue was up 5.2% on a year-over-year basis. On average, analysts expect Owens Corning to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.
OC opened at $62.95 on Monday. Owens Corning has a 52-week low of $40.64 and a 52-week high of $63.61. The firm has a market capitalization of $6.83 billion, a PE ratio of 12.74, a PEG ratio of 1.63 and a beta of 1.24. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.89 and a current ratio of 1.69. The business’s 50-day simple moving average is $60.05 and its 200 day simple moving average is $54.81.
Several research firms recently issued reports on OC. Barclays reiterated a “buy” rating and set a $65.00 target price on shares of Owens Corning in a report on Monday, July 1st. Seaport Global Securities upgraded Owens Corning from a “sell” rating to a “neutral” rating in a report on Thursday, June 27th. Bank of America upgraded Owens Corning from a “neutral” rating to a “buy” rating and upped their target price for the stock from $58.00 to $72.00 in a report on Thursday, June 27th. ValuEngine lowered Owens Corning from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, BNP Paribas began coverage on Owens Corning in a report on Wednesday, October 9th. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $56.77.
In other Owens Corning news, VP Ava Harter sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $54.84, for a total value of $109,680.00. Following the sale, the vice president now owns 43,388 shares in the company, valued at $2,379,397.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael H. Thaman sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $57.08, for a total value of $1,712,400.00. Following the completion of the sale, the insider now owns 827,513 shares in the company, valued at approximately $47,234,442.04. The disclosure for this sale can be found here. Insiders sold 42,362 shares of company stock worth $2,402,018 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.
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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