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

Owens Corning (NYSE:OC) announced its quarterly earnings results on Monday. The construction company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35, Zacks reports. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%.

Owens Corning Stock Performance

NYSE:OC opened at $165.25 on Monday. The stock’s 50-day simple moving average is $177.43 and its 200 day simple moving average is $178.95. The firm has a market capitalization of $14.17 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a twelve month low of $143.50 and a twelve month high of $214.53.

Owens Corning Dividend Announcement

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

Insider Activity at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction dated Friday, December 13th. The stock was 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 of the company’s stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the sale, the insider now directly 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 disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on OC shares. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Evercore ISI upped their price target on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Royal Bank of Canada upped their price target on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Citigroup reduced their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $195.00 to $225.00 in a research report on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.30.

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.