USG Corporation (NYSE:USG) - Northcoast Research dropped their Q3 2017 EPS estimates for shares of USG Corporation in a report released on Thursday. Northcoast Research analyst K. Hocevar now expects that the construction company will post earnings of $0.48 per share for the quarter, down from their prior forecast of $0.53. Northcoast Research also issued estimates for USG Corporation’s Q4 2017 earnings at $0.36 EPS, FY2017 earnings at $1.65 EPS and FY2018 earnings at $2.05 EPS.
USG Corporation (NYSE:USG) last announced its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.07. The company had revenue of $811 million during the quarter, compared to analyst estimates of $809.44 million. USG Corporation had a net margin of 15.23% and a return on equity of 14.57%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 EPS. WARNING: This story was published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this story on another publication, it was stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this story can be read at https://stocknewstimes.com/2017/07/29/northcoast-research-analysts-decrease-earnings-estimates-for-usg-corporation-usg.html.
USG has been the subject of a number of other reports. Jefferies Group LLC reaffirmed a “hold” rating on shares of USG Corporation in a research report on Wednesday, July 19th. CL King cut shares of USG Corporation from a “strong-buy” rating to a “neutral” rating in a research report on Monday, July 24th. Nomura started coverage on shares of USG Corporation in a research report on Wednesday, April 12th. They set a “neutral” rating and a $33.00 price objective for the company. Bank of America Corporation cut shares of USG Corporation from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $38.00 to $31.00 in a research report on Thursday. Finally, BidaskClub cut shares of USG Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 9th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. USG Corporation currently has an average rating of “Hold” and a consensus price target of $31.20.
USG Corporation (USG) opened at 27.07 on Friday. The firm has a 50 day moving average of $28.78 and a 200-day moving average of $30.55. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 8.03 and a beta of 1.09. USG Corporation has a one year low of $23.71 and a one year high of $34.67.
Institutional investors have recently bought and sold shares of the stock. Aperio Group LLC raised its stake in USG Corporation by 27.8% in the second quarter. Aperio Group LLC now owns 21,619 shares of the construction company’s stock valued at $627,000 after buying an additional 4,697 shares in the last quarter. Somerset Trust Co increased its stake in USG Corporation by 0.7% in the second quarter. Somerset Trust Co now owns 16,900 shares of the construction company’s stock valued at $491,000 after buying an additional 116 shares during the period. Public Employees Retirement System of Ohio increased its stake in USG Corporation by 0.5% in the first quarter. Public Employees Retirement System of Ohio now owns 90,586 shares of the construction company’s stock valued at $2,881,000 after buying an additional 447 shares during the period. Achmea Investment Management B.V. bought a new stake in USG Corporation during the first quarter valued at approximately $3,501,000. Finally, Adalta Capital Management LLC bought a new stake in USG Corporation during the first quarter valued at approximately $957,000. 88.87% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Jeanette A. Press sold 3,121 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $28.55, for a total transaction of $89,104.55. Following the transaction, the vice president now directly owns 13,981 shares of the company’s stock, valued at $399,157.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer F. Scanlon bought 1,500 shares of USG Corporation stock in a transaction dated Monday, June 5th. The shares were acquired at an average cost of $29.39 per share, for a total transaction of $44,085.00. Following the completion of the purchase, the insider now directly owns 82,902 shares of the company’s stock, valued at approximately $2,436,489.78. The disclosure for this purchase can be found here. 0.67% of the stock is owned by insiders.
USG Corporation Company Profile
USG Corporation, through its subsidiaries, is a manufacturer and distributor of building materials. The Company’s segments include Gypsum, Ceilings and USG Boral Building Products (UBBP). It produces a range of products for use in new residential, new nonresidential, and residential and nonresidential repair and remodel construction, as well as products used in certain industrial processes.
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