Owens Corning (OC) Set to Announce Quarterly Earnings on Wednesday

Owens Corning (NYSE:OC) is scheduled to announce its earnings results before the market opens on Wednesday, July 24th. Analysts expect the company to announce earnings of $1.16 per share for the quarter. Investors 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 Wednesday, April 24th. The construction company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Owens Corning had a net margin of 7.07% and a return on equity of 12.10%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. The business’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts expect Owens Corning to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Shares of Owens Corning stock opened at $54.68 on Tuesday. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 1.49 and a beta of 1.30. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.83 and a quick ratio of 0.96. Owens Corning has a one year low of $40.64 and a one year high of $66.96. The company has a 50-day moving average price of $53.92.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Tuesday, July 16th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $0.88 dividend on an annualized basis and a yield of 1.61%. Owens Corning’s dividend payout ratio (DPR) is currently 17.81%.

In related news, insider Gunner Smith sold 7,900 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $51.79, for a total value of $409,141.00. Following the transaction, the insider now owns 21,189 shares in the company, valued at $1,097,378.31. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael H. Thaman sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $51.49, for a total value of $1,544,700.00. Following the completion of the transaction, the insider now owns 856,240 shares in the company, valued at approximately $44,087,797.60. The disclosure for this sale can be found here. Insiders sold a total of 40,938 shares of company stock worth $2,114,034 in the last 90 days. Company insiders own 1.70% of the company’s stock.

A number of equities analysts have issued reports on the company. Bank of America set a $420.00 price target on Boeing and gave the company a “hold” rating in a research note on Thursday, June 27th. Seaport Global Securities upgraded Owens Corning from a “sell” rating to a “neutral” rating in a research note on Thursday, June 27th. Nomura reiterated a “neutral” rating and set a $48.00 price target (down previously from $70.00) on shares of Owens Corning in a research note on Thursday, May 16th. Stifel Nicolaus downgraded Owens Corning from a “buy” rating to a “hold” rating and set a $52.45 price target for the company. in a research note on Wednesday, April 24th. Finally, Zacks Investment Research upgraded Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Monday, April 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $58.34.

Owens Corning Company Profile

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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Earnings History for Owens Corning (NYSE:OC)

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