$2.17 Billion in Sales Expected for Owens Corning (NYSE:OC) This Quarter

Brokerages expect Owens Corning (NYSE:OC) to report sales of $2.17 billion for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Owens Corning’s earnings, with estimates ranging from $2.10 billion to $2.25 billion. Owens Corning posted sales of $1.90 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 14.2%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, October 27th.

On average, analysts expect that Owens Corning will report full-year sales of $8.29 billion for the current year, with estimates ranging from $8.08 billion to $8.52 billion. For the next financial year, analysts forecast that the company will report sales of $8.65 billion, with estimates ranging from $8.28 billion to $9.01 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Owens Corning.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, July 28th. The construction company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.50. Owens Corning had a net margin of 11.85% and a return on equity of 21.31%. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $1.97 billion.

Several analysts have commented on OC shares. Wells Fargo & Company assumed coverage on shares of Owens Corning in a research report on Thursday, July 15th. They set an “equal weight” rating and a $102.00 price target for the company. Zacks Investment Research lowered Owens Corning from a “buy” rating to a “hold” rating and set a $103.00 price objective on the stock. in a report on Tuesday, July 6th. Royal Bank of Canada boosted their price objective on Owens Corning from $99.00 to $105.00 and gave the company a “sector perform” rating in a research note on Thursday, July 29th. Finally, Loop Capital upped their price target on Owens Corning from $112.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 29th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $93.06.

OC stock opened at $93.54 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.91 and a debt-to-equity ratio of 0.76. Owens Corning has a twelve month low of $64.56 and a twelve month high of $109.89. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 10.62 and a beta of 1.54. The firm’s fifty day simple moving average is $94.87 and its two-hundred day simple moving average is $95.99.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 6th. Shareholders of record on Friday, July 16th were given a dividend of $0.26 per share. The ex-dividend date was Thursday, July 15th. This represents a $1.04 annualized dividend and a yield of 1.11%. Owens Corning’s dividend payout ratio (DPR) is presently 19.96%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its stake in Owens Corning by 509.6% in the first quarter. FMR LLC now owns 693,589 shares of the construction company’s stock valued at $32,682,000 after acquiring an additional 579,805 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Owens Corning by 25.5% during the first quarter. Janney Montgomery Scott LLC now owns 6,048 shares of the construction company’s stock worth $557,000 after buying an additional 1,228 shares during the last quarter. IFM Investors Pty Ltd grew its stake in shares of Owens Corning by 31.7% during the first quarter. IFM Investors Pty Ltd now owns 14,088 shares of the construction company’s stock worth $1,297,000 after buying an additional 3,391 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Owens Corning by 8.4% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 22,716 shares of the construction company’s stock worth $2,092,000 after buying an additional 1,753 shares during the last quarter. Finally, Sigma Planning Corp grew its stake in shares of Owens Corning by 10.8% during the first quarter. Sigma Planning Corp now owns 3,334 shares of the construction company’s stock worth $307,000 after buying an additional 325 shares during the last quarter. Institutional investors own 91.39% of the company’s stock.

Owens Corning Company Profile

Owens Corning engages in the development, manufacture, and marketing of insulation, roofing and fiberglass composites. It operates through the following segments: Composites, Insulation and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber, and also includes vertically integrated downstream activities.

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Earnings History and Estimates for Owens Corning (NYSE:OC)

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