Owens Corning (NYSE:OC) Issues Quarterly Earnings Results, Beats Estimates By $0.55 EPS

Owens Corning (NYSE:OC - Get Free Report) announced its quarterly earnings results on Wednesday. The construction company reported $3.59 earnings per share for the quarter, beating analysts' consensus estimates of $3.04 by $0.55, Briefing.com reports. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the business earned $2.77 EPS. Owens Corning's revenue for the quarter was down 1.3% on a year-over-year basis.

Owens Corning Price Performance

Shares of NYSE:OC traded down $0.20 during midday trading on Thursday, reaching $165.02. 731,196 shares of the company's stock were exchanged, compared to its average volume of 674,509. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.69. The firm has a market capitalization of $14.36 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 7.08 and a beta of 1.47. Owens Corning has a 12 month low of $98.02 and a 12 month high of $173.65. The company's 50 day simple moving average is $158.41 and its two-hundred day simple moving average is $145.80.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Monday, March 4th were given a $0.60 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.45%. Owens Corning's dividend payout ratio is currently 18.29%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Citigroup boosted their price target on Owens Corning from $150.00 to $169.00 and gave the stock a "neutral" rating in a research note on Friday, April 5th. Royal Bank of Canada boosted their target price on shares of Owens Corning from $175.00 to $192.00 and gave the company an "outperform" rating in a research note on Thursday. JPMorgan Chase & Co. lowered their price target on shares of Owens Corning from $164.00 to $163.00 and set a "neutral" rating for the company in a research report on Tuesday, February 20th. Loop Capital raised their target price on Owens Corning from $167.00 to $188.00 and gave the company a "buy" rating in a research note on Monday, April 1st. Finally, Evercore ISI raised their price objective on shares of Owens Corning from $154.00 to $172.00 and gave the company an "in-line" rating in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $168.21.

Insider Buying and Selling at Owens Corning

In other news, CEO Brian Chambers sold 9,100 shares of the business's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the completion of the sale, the chief executive officer now owns 269,696 shares in the company, valued at $41,417,214.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Paula Russell sold 3,765 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the sale, the executive vice president now owns 20,419 shares of the company's stock, valued at $3,307,878. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Brian Chambers sold 9,100 shares of the business's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the sale, the chief executive officer now directly owns 269,696 shares in the company, valued at $41,417,214.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,672 shares of company stock valued at $3,325,799. 0.89% of the stock is currently owned by company insiders.

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.