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

Owens Corning (NYSE:OC) is scheduled to be announcing its quarterly earnings results before the market opens on Wednesday, November 6th. Analysts expect the company to announce earnings of $4.01 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 released its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the company posted $4.22 EPS. Owens Corning’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts expect Owens Corning to post $15 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Owens Corning Price Performance

OC opened at $181.13 on Wednesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The stock’s 50 day simple moving average is $173.33 and its 200 day simple moving average is $172.65. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 2.23 and a beta of 1.41. Owens Corning has a 1 year low of $111.57 and a 1 year high of $191.44.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning’s dividend payout ratio is 20.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on OC shares. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and raised their price target for the stock from $178.00 to $191.00 in a report on Thursday, July 11th. Royal Bank of Canada raised their target price on Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. UBS Group upped their price target on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company upped their target price on Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $187.77.

Insider Activity

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the sale, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the transaction, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the sale, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Owens Corning Company Profile

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.