Owens Corning (OC) Set to Announce Earnings on Wednesday

Owens Corning (NYSE:OC) will be issuing its quarterly earnings data before the market opens on Wednesday, November 6th. Analysts expect the company to announce earnings of $4.01 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Owens Corning (NYSE:OC) last issued its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the firm posted $4.22 EPS. Owens Corning’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts expect Owens Corning to post $15 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Owens Corning Trading Down 0.5 %

OC stock opened at $179.40 on Tuesday. The business has a fifty day moving average price of $174.13 and a 200 day moving average price of $172.99. Owens Corning has a fifty-two week low of $120.17 and a fifty-two week high of $191.44. The stock has a market capitalization of $15.60 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 2.17 and a beta of 1.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a $0.60 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.34%. Owens Corning’s payout ratio is 20.32%.

Insider Buying and Selling at Owens Corning

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Evercore ISI lifted their target price on Owens Corning from $175.00 to $189.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. UBS Group lifted their target price on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their target price on Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a report on Friday. Finally, Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $178.00 to $191.00 in a report on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $187.77.

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.