USG Corporation (NYSE:USG) - Equities research analysts at Jefferies Group cut their Q2 2017 earnings per share (EPS) estimates for USG Corporation in a note issued to investors on Wednesday. Jefferies Group analyst P. Ng now anticipates that the construction company will earn $0.54 per share for the quarter, down from their previous estimate of $0.56. Jefferies Group currently has a “Hold” rating on the stock.
USG Corporation (NYSE:USG) last announced its quarterly earnings results on Thursday, April 27th. The construction company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.46 by $0.09. The firm had revenue of $767 million for the quarter, compared to analysts’ expectations of $741.50 million. USG Corporation had a net margin of 15.23% and a return on equity of 14.57%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.43 EPS. WARNING: “Q2 2017 Earnings Forecast for USG Corporation (USG) Issued By Jefferies Group” was originally reported by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this news story on another website, it was stolen and republished in violation of US & international copyright & trademark laws. The correct version of this news story can be accessed at https://stocknewstimes.com/2017/08/01/q2-2017-earnings-forecast-for-usg-corporation-usg-issued-by-jefferies-group-updated.html.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded USG Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. BidaskClub upgraded USG Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Credit Suisse Group assumed coverage on USG Corporation in a report on Thursday, June 22nd. They set an “underperform” rating and a $24.00 price target on the stock. Nomura set a $30.00 price target on USG Corporation and gave the stock a “hold” rating in a report on Thursday, April 27th. Finally, Instinet restated a “neutral” rating and set a $33.00 price target (up previously from $30.00) on shares of USG Corporation in a report on Saturday, April 29th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $31.53.
USG Corporation (NYSE:USG) opened at 29.07 on Friday. USG Corporation has a 1-year low of $23.71 and a 1-year high of $34.67. The firm has a 50-day moving average price of $28.90 and a 200 day moving average price of $30.62. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 8.62 and a beta of 1.09.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in USG Corporation by 14,864.0% in the first quarter. BlackRock Inc. now owns 4,036,547 shares of the construction company’s stock worth $128,363,000 after buying an additional 4,009,572 shares during the last quarter. JPMorgan Chase & Co. increased its position in USG Corporation by 953.1% in the first quarter. JPMorgan Chase & Co. now owns 1,986,738 shares of the construction company’s stock worth $63,179,000 after buying an additional 1,798,074 shares during the last quarter. Bank of America Corp DE increased its position in USG Corporation by 95.8% in the first quarter. Bank of America Corp DE now owns 3,579,696 shares of the construction company’s stock worth $113,834,000 after buying an additional 1,751,530 shares during the last quarter. Fairfax Financial Holdings Ltd Can increased its position in USG Corporation by 335.8% in the first quarter. Fairfax Financial Holdings Ltd Can now owns 1,530,522 shares of the construction company’s stock worth $48,671,000 after buying an additional 1,179,300 shares during the last quarter. Finally, Macquarie Group Ltd. acquired a new position in USG Corporation during the fourth quarter worth approximately $31,029,000. Institutional investors and hedge funds own 88.77% of the company’s stock.
In other news, VP Jeanette A. Press sold 3,121 shares of the stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $28.55, for a total value of $89,104.55. Following the transaction, the vice president now owns 13,981 shares in the company, valued at approximately $399,157.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer F. Scanlon acquired 1,500 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was acquired at an average price of $29.39 per share, for a total transaction of $44,085.00. Following the acquisition, the insider now owns 82,902 shares in the company, valued at approximately $2,436,489.78. The disclosure for this purchase can be found here. Corporate insiders own 0.67% of the company’s stock.
About USG Corporation
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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