Owens Corning Inc (NYSE:OC) - Investment analysts at SunTrust Banks increased their Q2 2017 earnings per share (EPS) estimates for shares of Owens Corning in a research report issued to clients and investors on Monday. SunTrust Banks analyst K. Hughes now expects that the construction company will earn $1.14 per share for the quarter, up from their prior estimate of $0.87. SunTrust Banks also issued estimates for Owens Corning’s Q2 2018 earnings at $1.20 EPS and Q3 2018 earnings at $1.28 EPS.
Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, April 26th. The construction company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.24. Owens Corning had a return on equity of 11.56% and a net margin of 7.38%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the business posted $0.53 EPS. Owens Corning’s revenue for the quarter was up 20.1% compared to the same quarter last year. ILLEGAL ACTIVITY WARNING: “Q2 2017 EPS Estimates for Owens Corning Inc Increased by SunTrust Banks (OC)” was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at https://stocknewstimes.com/2017/08/07/q2-2017-eps-estimates-for-owens-corning-inc-increased-by-suntrust-banks-oc-updated-updated.html.
A number of other research analysts also recently weighed in on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $77.00 price objective on shares of Owens Corning in a research report on Wednesday. BidaskClub downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Barclays PLC upped their price objective on shares of Owens Corning from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 28th. Zacks Investment Research upgraded shares of Owens Corning from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, June 28th. Finally, Northcoast Research set a $76.00 price objective on shares of Owens Corning and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. Owens Corning presently has an average rating of “Buy” and a consensus target price of $66.80.
Shares of Owens Corning (OC) opened at 65.70 on Wednesday. Owens Corning has a 52 week low of $46.45 and a 52 week high of $67.74. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of 17.22 and a beta of 1.11. The firm has a 50-day moving average price of $65.34 and a 200-day moving average price of $60.52.
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Owens Corning by 4,010.8% in the first quarter. BlackRock Inc. now owns 6,496,203 shares of the construction company’s stock valued at $398,669,000 after buying an additional 6,338,177 shares during the last quarter. LSV Asset Management raised its position in Owens Corning by 59.4% in the first quarter. LSV Asset Management now owns 1,385,700 shares of the construction company’s stock valued at $85,040,000 after buying an additional 516,500 shares during the last quarter. Renaissance Technologies LLC raised its position in Owens Corning by 71.7% in the first quarter. Renaissance Technologies LLC now owns 1,169,800 shares of the construction company’s stock valued at $71,791,000 after buying an additional 488,500 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Owens Corning by 36.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,383,533 shares of the construction company’s stock valued at $84,908,000 after buying an additional 366,192 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in Owens Corning by 53.1% in the first quarter. Teacher Retirement System of Texas now owns 908,062 shares of the construction company’s stock valued at $55,728,000 after buying an additional 314,976 shares during the last quarter.
In related news, Director James J. Mcmonagle sold 2,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $64.60, for a total transaction of $129,200.00. Following the completion of the sale, the director now owns 50,906 shares of the company’s stock, valued at approximately $3,288,527.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Arnaud Genis sold 21,544 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $65.44, for a total transaction of $1,409,839.36. Following the sale, the insider now directly owns 80,143 shares of the company’s stock, valued at approximately $5,244,557.92. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 2nd. Investors of record on Monday, July 17th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, July 13th. This represents a $0.80 annualized dividend and a yield of 1.22%. Owens Corning’s dividend payout ratio is presently 21.00%.
About Owens Corning
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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