Owens Corning (OC) Scheduled to Post Earnings on Wednesday

Owens Corning (NYSE:OC) is set to release its earnings data before the market opens on Wednesday, April 24th. Analysts expect Owens Corning to post earnings of $3.03 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, February 14th. The construction company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.39. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.25 billion. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. Owens Corning’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.49 EPS. On average, analysts expect Owens Corning to post $14 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Owens Corning Stock Up 2.7 %

NYSE:OC opened at $164.44 on Tuesday. The company has a market cap of $14.31 billion, a PE ratio of 12.53, a P/E/G ratio of 0.28 and a beta of 1.47. Owens Corning has a twelve month low of $98.02 and a twelve month high of $173.65. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $158.00 and its two-hundred day moving average is $145.55.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Monday, March 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.46%. The ex-dividend date was Friday, March 1st. Owens Corning’s dividend payout ratio is presently 18.29%.

Insider Activity at Owens Corning

In related news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the sale, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the sale, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian Chambers sold 9,100 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the completion of the sale, the chief executive officer now directly owns 269,696 shares of the company’s stock, valued at approximately $41,417,214.72. The disclosure for this sale can be found here. Insiders sold a total of 21,672 shares of company stock worth $3,325,799 in the last three months. Company insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on OC shares. Evercore ISI downgraded shares of Owens Corning from an “outperform” rating to an “in-line” rating and dropped their target price for the stock from $163.00 to $154.00 in a research report on Thursday, February 15th. UBS Group dropped their target price on shares of Owens Corning from $175.00 to $169.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Barclays cut shares of Owens Corning from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $170.00 to $160.00 in a research note on Monday, February 12th. Loop Capital lifted their price objective on shares of Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Royal Bank of Canada decreased their price objective on shares of Owens Corning from $183.00 to $175.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and an average price target of $162.14.

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.