Wall Street brokerages expect Norbord Inc. (NYSE:OSB) to report earnings per share of $1.46 for the current quarter, according to Zacks. Zero analysts have made estimates for Norbord’s earnings. The highest EPS estimate is $1.63 and the lowest is $1.28. Norbord posted earnings of $0.64 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 128.1%. The business is expected to announce its next earnings report on Friday, February 2nd.
On average, analysts expect that Norbord will report full year earnings of $4.53 per share for the current fiscal year, with EPS estimates ranging from $4.35 to $4.70. For the next year, analysts expect that the firm will report earnings of $3.55 per share, with EPS estimates ranging from $3.50 to $3.60. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Norbord.
Norbord (NYSE:OSB) last released its quarterly earnings data on Friday, October 27th. The construction company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.02. Norbord had a net margin of 16.33% and a return on equity of 42.38%. The business had revenue of $578.00 million during the quarter.
OSB has been the subject of several analyst reports. TD Securities lifted their price objective on shares of Norbord from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of Norbord from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Friday, October 27th. Scotiabank reissued a “buy” rating and set a $44.25 target price on shares of Norbord in a research report on Tuesday, August 29th. Vertical Research lowered shares of Norbord from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. Finally, BMO Capital Markets set a $28.00 target price on shares of Norbord and gave the stock a “hold” rating in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.45.
Norbord (NYSE OSB) traded down $0.52 during mid-day trading on Wednesday, hitting $36.05. 258,271 shares of the company traded hands, compared to its average volume of 115,932. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.91 and a current ratio of 1.83. Norbord has a 1-year low of $21.40 and a 1-year high of $41.88. The firm has a market cap of $3,160.00, a price-to-earnings ratio of 9.86 and a beta of 2.32.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, December 1st will be given a dividend of $0.467 per share. This is a positive change from Norbord’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, November 30th. This represents a $1.87 dividend on an annualized basis and a yield of 5.18%. Norbord’s payout ratio is currently 40.87%.
Norbord declared that its board has authorized a share buyback program on Friday, October 27th that permits the company to buyback 5,140,000 shares. This buyback authorization permits the construction company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its position in Norbord by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 4,889 shares of the construction company’s stock worth $152,000 after acquiring an additional 198 shares during the last quarter. Shell Asset Management Co. increased its holdings in shares of Norbord by 51.2% during the 3rd quarter. Shell Asset Management Co. now owns 6,229 shares of the construction company’s stock worth $143,000 after purchasing an additional 2,109 shares during the period. Parametric Portfolio Associates LLC bought a new position in shares of Norbord during the 2nd quarter worth about $205,000. Comerica Bank bought a new position in shares of Norbord during the 2nd quarter worth about $233,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Norbord during the 2nd quarter worth about $260,000. 81.59% of the stock is owned by hedge funds and other institutional investors.
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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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