Owens Corning (NYSE:OC) Announces Earnings Results

Owens Corning (NYSE:OC) announced its quarterly earnings data on Monday. The construction company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.35, Zacks reports. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.77 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.21 earnings per share.

Owens Corning Trading Down 4.0 %

Shares of OC stock opened at $165.25 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The company has a market capitalization of $14.17 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.88 and a beta of 1.46. Owens Corning has a 52-week low of $143.50 and a 52-week high of $214.53. The company has a 50-day simple moving average of $177.43 and a two-hundred day simple moving average of $178.95.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is currently 23.49%.

Insiders Place Their Bets

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the sale, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. The Goldman Sachs Group increased their target price on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $195.00 to $225.00 in a research note on Tuesday, December 17th. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Finally, Citigroup reduced their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.30.

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.