Shares of Norbord Inc (NYSE:OSB) have been assigned an average rating of “Buy” from the eleven ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $34.33.
A number of analysts have recently weighed in on the company. Zacks Investment Research lowered Norbord from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. TD Securities lowered their price objective on Norbord from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Royal Bank of Canada reiterated an “average” rating and issued a $40.00 price objective on shares of Norbord in a research report on Tuesday, July 9th. Raymond James reiterated a “buy” rating and issued a $41.00 price objective on shares of Norbord in a research report on Tuesday, July 16th. Finally, TheStreet lowered Norbord from a “b-” rating to a “c+” rating in a research report on Tuesday, June 11th.
Large investors have recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in shares of Norbord during the 1st quarter valued at about $45,000. Beutel Goodman & Co Ltd. bought a new position in shares of Norbord during the 1st quarter valued at about $71,000. Advantage Investment Management LLC lifted its holdings in shares of Norbord by 16.2% during the 2nd quarter. Advantage Investment Management LLC now owns 10,404 shares of the construction company’s stock valued at $258,000 after purchasing an additional 1,454 shares in the last quarter. Yorktown Management & Research Co Inc bought a new position in shares of Norbord during the 1st quarter valued at about $276,000. Finally, Weiss Asset Management LP lifted its holdings in shares of Norbord by 30.1% during the 2nd quarter. Weiss Asset Management LP now owns 11,537 shares of the construction company’s stock valued at $286,000 after purchasing an additional 2,667 shares in the last quarter. Institutional investors and hedge funds own 78.60% of the company’s stock.
Norbord (NYSE:OSB) last announced its earnings results on Thursday, August 1st. The construction company reported ($0.10) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.01. Norbord had a return on equity of 16.27% and a net margin of 4.31%. The company had revenue of $447.00 million during the quarter, compared to analyst estimates of $466.51 million. During the same period last year, the company posted $1.92 earnings per share. The firm’s quarterly revenue was down 36.8% compared to the same quarter last year. Equities analysts predict that Norbord will post 0.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, August 30th will be issued a dividend of $0.303 per share. This represents a $1.21 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend is Thursday, August 29th. This is a boost from Norbord’s previous quarterly dividend of $0.30. Norbord’s payout ratio is 25.00%.
Norbord Company Profile
Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial manufacturers primarily in North America and Europe. The company offers oriented strand boards for use in sheathing, flooring, and roofing in home construction applications; particleboards that are used in flooring and other construction applications; and medium density fiberboards for use in cabinet doors, mouldings, and interior wall paneling applications, as well as related value-added products for use in the construction of new homes, and renovation and repair of existing structures.
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