Owens Corning (NYSE:OC) Issues Earnings Results, Beats Estimates By $0.33 EPS

Owens Corning (NYSE:OC) announced its quarterly earnings results on Wednesday. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.33, Briefing.com reports. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the company posted $4.15 earnings per share. Owens Corning updated its Q4 2024 guidance to EPS.

Owens Corning Stock Performance

Shares of NYSE OC traded up $3.02 during mid-day trading on Friday, hitting $190.44. 796,320 shares of the company were exchanged, compared to its average volume of 697,772. The company has a quick ratio of 0.79, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The stock has a 50 day simple moving average of $175.83 and a 200-day simple moving average of $173.64. Owens Corning has a 1-year low of $121.08 and a 1-year high of $193.93. The firm has a market cap of $16.56 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio is presently 20.43%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank of Canada upped their price target on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company upped their price target on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday. Barclays decreased their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Finally, Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.

Insiders Place Their Bets

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

Owens Corning Company Profile

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.