Zacks: Analysts Expect Owens Corning (NYSE:OC) to Post $1.50 EPS

Equities analysts expect Owens Corning (NYSE:OC) to report $1.50 earnings per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Owens Corning’s earnings. The highest EPS estimate is $1.57 and the lowest is $1.41. Owens Corning reported earnings of $1.54 per share in the same quarter last year, which indicates a negative year over year growth rate of 2.6%. The firm is expected to announce its next earnings report on Wednesday, October 23rd.

On average, analysts expect that Owens Corning will report full year earnings of $4.68 per share for the current financial year, with EPS estimates ranging from $4.53 to $4.79. For the next year, analysts expect that the company will report earnings of $5.36 per share, with EPS estimates ranging from $5.06 to $5.75. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Owens Corning.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, July 24th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.18. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.83 billion. Owens Corning had a net margin of 7.21% and a return on equity of 12.18%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the business posted $1.17 EPS.



Several analysts have issued reports on OC shares. ValuEngine lowered shares of Owens Corning from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Bank of America upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and raised their price target for the stock from $58.00 to $72.00 in a research report on Thursday, June 27th. SunTrust Banks raised their price target on shares of Owens Corning to $58.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Seaport Global Securities upgraded shares of Owens Corning from a “sell” rating to a “neutral” rating in a research report on Thursday, June 27th. Finally, Royal Bank of Canada raised their price target on shares of Owens Corning to $65.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $58.29.

In other news, Director W Howard Morris sold 2,773 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $54.69, for a total value of $151,655.37. Following the sale, the director now owns 37,090 shares in the company, valued at approximately $2,028,452.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ava Harter sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $54.84, for a total transaction of $109,680.00. Following the completion of the sale, the vice president now owns 43,388 shares in the company, valued at approximately $2,379,397.92. The disclosure for this sale can be found here. Insiders have sold 42,362 shares of company stock worth $2,402,018 in the last quarter. Corporate insiders own 1.70% of the company’s stock.

Large investors have recently modified their holdings of the company. Penserra Capital Management LLC acquired a new stake in shares of Owens Corning in the 1st quarter valued at $26,000. First Mercantile Trust Co. acquired a new stake in shares of Owens Corning in the 1st quarter valued at $33,000. Quantamental Technologies LLC acquired a new stake in shares of Owens Corning in the 2nd quarter valued at $33,000. Private Capital Group LLC boosted its stake in shares of Owens Corning by 95.8% in the 2nd quarter. Private Capital Group LLC now owns 793 shares of the construction company’s stock valued at $50,000 after purchasing an additional 388 shares in the last quarter. Finally, Bremer Bank National Association acquired a new stake in shares of Owens Corning in the 1st quarter valued at $58,000. Institutional investors own 97.84% of the company’s stock.

NYSE OC traded down $0.99 during midday trading on Monday, hitting $59.18. The company had a trading volume of 1,416,538 shares, compared to its average volume of 1,549,660. The company has a quick ratio of 0.89, a current ratio of 1.69 and a debt-to-equity ratio of 0.80. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 1.56 and a beta of 1.27. The firm has a fifty day simple moving average of $56.33 and a two-hundred day simple moving average of $52.61. Owens Corning has a fifty-two week low of $40.64 and a fifty-two week high of $61.08.

About Owens Corning

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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