Owens Corning (NYSE:OC) Posts Quarterly Earnings Results, Beats Expectations By $0.35 EPS

Owens Corning (NYSE:OC) announced its quarterly earnings data on Monday. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35, Zacks reports. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period last year, the firm posted $3.21 earnings per share. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year.

Owens Corning Trading Down 4.0 %

Shares of OC stock opened at $165.25 on Monday. Owens Corning has a 1-year low of $143.50 and a 1-year high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock has a market cap of $14.17 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.88 and a beta of 1.46. The stock has a 50-day moving average of $177.43 and a 200-day moving average of $178.95.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.67%. Owens Corning’s dividend payout ratio (DPR) is presently 23.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on OC shares. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Evercore ISI upped their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. UBS Group raised their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price target on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.30.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the sale, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

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.