Owens Corning (OC) Set to Announce Earnings on Wednesday

Owens Corning (NYSE:OC) will post its quarterly earnings results before the market opens on Wednesday, November 6th. Analysts expect Owens Corning to post earnings of $4.01 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Owens Corning (NYSE:OC) last issued its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter last year, the company posted $4.22 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. On average, analysts expect Owens Corning to post $15 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Owens Corning Price Performance

NYSE:OC opened at $180.34 on Monday. The firm’s fifty day moving average is $174.13 and its two-hundred day moving average is $172.92. The firm has a market cap of $15.68 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 2.17 and a beta of 1.41. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. Owens Corning has a one year low of $117.32 and a one year high of $191.44.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.33%. Owens Corning’s payout ratio is 20.32%.

Insider Transactions at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

OC has been the subject of a number of analyst reports. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Wells Fargo & Company increased their price target on shares of Owens Corning from $165.00 to $175.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Barclays cut their price objective on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Royal Bank of Canada increased their target price on shares of Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and lifted their price target for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $187.77.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.