Norbord Inc (NYSE:OSB) has earned an average recommendation of “Buy” from the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $34.33.
Several research analysts recently weighed in on OSB shares. Zacks Investment Research lowered shares of Norbord from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. ValuEngine raised shares of Norbord from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. BMO Capital Markets raised shares of Norbord from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $26.00 to $28.00 in a research note on Friday, June 14th. Raymond James reissued a “buy” rating and set a $41.00 price objective on shares of Norbord in a research note on Tuesday, July 16th. Finally, TheStreet lowered shares of Norbord from a “b-” rating to a “c+” rating in a research note on Tuesday, June 11th.
A number of institutional investors and hedge funds have recently made changes to their positions in OSB. BlackRock Inc. boosted its stake in shares of Norbord by 4.0% in the 4th quarter. BlackRock Inc. now owns 33,268 shares of the construction company’s stock valued at $884,000 after purchasing an additional 1,277 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Norbord by 137.1% in the 4th quarter. Bank of New York Mellon Corp now owns 169,974 shares of the construction company’s stock valued at $4,520,000 after purchasing an additional 98,284 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Norbord by 204.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 106,651 shares of the construction company’s stock valued at $2,836,000 after purchasing an additional 71,625 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Norbord by 3.9% in the 4th quarter. Legal & General Group Plc now owns 13,916 shares of the construction company’s stock valued at $370,000 after purchasing an additional 526 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Norbord by 102.6% during the 4th quarter. Millennium Management LLC now owns 36,414 shares of the construction company’s stock worth $968,000 after acquiring an additional 18,438 shares during the last quarter. 78.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE OSB traded up $0.58 during mid-day trading on Friday, hitting $22.65. The company’s stock had a trading volume of 83,900 shares, compared to its average volume of 187,702. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 4.80 and a beta of 2.07. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.64 and a quick ratio of 1.14. Norbord has a one year low of $19.46 and a one year high of $44.15. The company’s fifty day simple moving average is $23.35 and its 200-day simple moving average is $24.62.
Norbord (NYSE:OSB) last released its quarterly earnings data on Thursday, August 1st. The construction company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. Norbord had a net margin of 4.31% and a return on equity of 16.27%. The business had revenue of $447.00 million for the quarter, compared to analyst estimates of $466.51 million. During the same quarter last year, the firm earned $1.92 EPS. Norbord’s quarterly revenue was down 36.8% compared to the same quarter last year. On average, sell-side analysts predict that Norbord will post 0.81 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, August 30th will be paid a $0.303 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $1.21 dividend on an annualized basis and a yield of 5.35%. This is a positive change from Norbord’s previous quarterly dividend of $0.30. Norbord’s payout ratio is presently 25.00%.
Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial manufacturers primarily in North America and Europe. The company offers oriented strand boards for use in sheathing, flooring, and roofing in home construction applications; particleboards that are used in flooring and other construction applications; and medium density fiberboards for use in cabinet doors, mouldings, and interior wall paneling applications, as well as related value-added products for use in the construction of new homes, and renovation and repair of existing structures.
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