Jefferies Financial Group Comments on Owens Corning’s Q4 2019 Earnings (NYSE:OC)

Owens Corning (NYSE:OC) – Analysts at Jefferies Financial Group cut their Q4 2019 earnings per share (EPS) estimates for Owens Corning in a research note issued on Tuesday, July 9th. Jefferies Financial Group analyst P. Ng now forecasts that the construction company will earn $1.42 per share for the quarter, down from their previous forecast of $1.45.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.68 billion. Owens Corning had a return on equity of 12.10% and a net margin of 7.07%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS.

OC has been the topic of a number of other research reports. Bank of America set a $420.00 price objective on Boeing and gave the stock a “hold” rating in a research report on Thursday, June 27th. ValuEngine lowered Intersect ENT from a “buy” rating to a “hold” rating in a research report on Monday, July 8th. Barclays reiterated a “buy” rating and issued a $65.00 price target on shares of Owens Corning in a research report on Monday, July 1st. Nomura reiterated a “neutral” rating and issued a $48.00 price target (down previously from $70.00) on shares of Owens Corning in a research report on Thursday, May 16th. Finally, Royal Bank of Canada lowered 3M from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $207.00 to $176.00 in a research report on Monday, July 8th. 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. The stock presently has a consensus rating of “Hold” and a consensus price target of $58.34.

Shares of OC stock opened at $56.27 on Friday. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 1.46 and a beta of 1.30. Owens Corning has a twelve month low of $40.64 and a twelve month high of $67.30. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.83 and a quick ratio of 0.96. The stock’s fifty day moving average price is $52.62.

Large investors have recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV raised its stake in Owens Corning by 1.9% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 11,580 shares of the construction company’s stock worth $546,000 after buying an additional 215 shares during the period. Sage Capital Advisors llc raised its stake in Owens Corning by 0.8% during the 1st quarter. Sage Capital Advisors llc now owns 30,401 shares of the construction company’s stock worth $1,432,000 after buying an additional 250 shares during the period. Penserra Capital Management LLC acquired a new position in Owens Corning during the 1st quarter worth approximately $26,000. MBM Wealth Consultants LLC raised its stake in Owens Corning by 9.0% during the 1st quarter. MBM Wealth Consultants LLC now owns 7,671 shares of the construction company’s stock worth $361,000 after buying an additional 633 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in Owens Corning by 4.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 16,788 shares of the construction company’s stock worth $791,000 after buying an additional 648 shares during the period. 96.23% of the stock is currently owned by institutional investors.

In other news, VP Kelly Schmidt sold 2,438 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $53.03, for a total value of $129,287.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael H. Thaman sold 30,000 shares of the business’s stock in a transaction dated 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 directly owns 856,240 shares in the company, valued at $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 quarter. Corporate insiders own 1.70% of the company’s stock.

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 given a $0.22 dividend. The ex-dividend date is Monday, July 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.56%. Owens Corning’s dividend payout ratio (DPR) is presently 17.81%.

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 and Estimates for Owens Corning (NYSE:OC)

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