Owens Corning (NYSE:OC) Releases Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Owens Corning (NYSE:OC) issued its quarterly earnings data on Wednesday. The construction company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.15, Zacks reports. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.40 earnings per share.

Owens Corning Price Performance

Shares of NYSE:OC opened at $135.73 on Friday. The company has a market cap of $11.61 billion, a P/E ratio of 11.55, a PEG ratio of 1.88 and a beta of 1.44. The company has a 50-day moving average price of $141.36 and a 200 day moving average price of $168.33. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on OC shares. Barclays reduced their price objective on shares of Owens Corning from $179.00 to $167.00 and set an “overweight” rating for the company in a research report on Thursday. UBS Group dropped their price objective on Owens Corning from $235.00 to $218.00 and set a “buy” rating on the stock in a report on Thursday. Wells Fargo & Company decreased their target price on Owens Corning from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday. Loop Capital reduced their price objective on Owens Corning from $203.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday. Finally, StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $188.55.

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.