Zacks Investment Research lowered shares of Norbord Inc. (NYSE:OSB) from a strong-buy rating to a hold rating in a report issued on Wednesday, July 12th.
According to Zacks, “Norbord Inc. is a producer of wood-based panels. It operates primarily in the United States, Europe and Canada. Norbord Inc. is headquartered in Toronto, Canada. “
A number of other analysts also recently commented on OSB. BMO Capital Markets restated a hold rating and set a $28.00 price objective on shares of Norbord in a report on Wednesday, April 19th. TD Securities restated a buy rating and set a $35.00 price objective on shares of Norbord in a report on Wednesday, May 3rd. Finally, ValuEngine upgraded Norbord from a buy rating to a strong-buy rating in a report on Friday, June 30th. Three analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $35.00.
Shares of Norbord (NYSE OSB) opened at 32.62 on Wednesday. The firm’s 50-day moving average price is $32.45 and its 200 day moving average price is $29.68. Norbord has a 1-year low of $21.40 and a 1-year high of $35.65. The firm has a market cap of $2.81 billion, a PE ratio of 10.73 and a beta of 3.95.
Norbord (NYSE:OSB) last released its quarterly earnings data on Friday, July 28th. The construction company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by $0.01. The firm had revenue of $536 million for the quarter. Norbord had a return on equity of 37.87% and a net margin of 13.52%. On average, equities research analysts forecast that Norbord will post $3.74 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Friday, September 1st will be issued a $0.398 dividend. This is an increase from Norbord’s previous quarterly dividend of $0.22. This represents a $1.59 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend is Wednesday, August 30th. Norbord’s dividend payout ratio is currently 28.95%.
Hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc increased its stake in shares of Norbord by 4.2% in the second quarter. Legal & General Group Plc now owns 4,889 shares of the construction company’s stock valued at $152,000 after buying an additional 198 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Norbord during the fourth quarter valued at about $147,000. Parametric Portfolio Associates LLC bought a new stake in shares of Norbord during the second quarter valued at about $205,000. Comerica Bank bought a new stake in shares of Norbord during the second quarter valued at about $233,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Norbord during the first quarter valued at about $204,000. Hedge funds and other institutional investors own 28.52% of the company’s stock.
Norbord Company Profile
Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial customers primarily in North America and Europe. The company offers oriented strand boards for use in sheathing, flooring, and roofing in home construction applications; particleboards that are used in flooring and other construction applications; and medium density fiberboards for use in cabinet doors, mouldings, and interior wall paneling applications, as well as related value-added products for use in the construction of new homes, and renovation and repair of existing structures.
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