Owens Corning Inc (NYSE:OC) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Moderate Buy consensus from 16 analysts (1 sell, 5 hold, 9 buy, 1 strong buy) with an average 1-year price target of $145.09.
• Owens Corning missed the latest quarter—EPS $1.10 vs $1.36 expected and revenue $2.14B vs $2.17B—revenue fell 16.8% year-over-year and the company reported a negative net margin of 5.17% despite a 21.93% ROE.
• The company pays a quarterly dividend of $0.79 (annualized $3.16) for a 2.6% yieldnegative P/E (-19.15) and a market cap around $9.85 billion.

Shares of Owens Corning Inc (NYSE:OC - Get Free Report) have earned an average rating of "Moderate Buy" from the sixteen analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $145.0909.

Several brokerages have issued reports on OC. Citigroup decreased their target price on shares of Owens Corning from $137.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, January 8th. Argus raised shares of Owens Corning to a "strong-buy" rating in a research note on Wednesday, January 14th. Weiss Ratings reissued a "sell (d+)" rating on shares of Owens Corning in a research note on Friday, March 27th. Barclays decreased their target price on shares of Owens Corning from $138.00 to $135.00 and set an "overweight" rating for the company in a research note on Wednesday, April 8th. Finally, Zacks Research raised shares of Owens Corning from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th.

Owens Corning Trading Down 0.6%

Owens Corning stock opened at $122.58 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.70 and a current ratio of 1.26. The firm has a market cap of $9.85 billion, a price-to-earnings ratio of -19.15, a price-to-earnings-growth ratio of 2.08 and a beta of 1.35. Owens Corning has a 1 year low of $97.53 and a 1 year high of $159.42. The firm's 50 day moving average price is $114.25 and its two-hundred day moving average price is $117.17.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.26). The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The company's quarterly revenue was down 16.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.22 EPS. On average, research analysts predict that Owens Corning will post 9.45 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Monday, March 9th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, March 9th. Owens Corning's dividend payout ratio is presently -49.38%.

Hedge Funds Weigh In On Owens Corning

Several hedge funds have recently bought and sold shares of OC. Itau Unibanco Holding S.A. bought a new position in Owens Corning in the 4th quarter worth $29,000. Root Financial Partners LLC bought a new position in Owens Corning in the 3rd quarter worth $39,000. Measured Wealth Private Client Group LLC bought a new position in Owens Corning in the 3rd quarter worth $42,000. Harbour Investments Inc. raised its holdings in Owens Corning by 66.5% in the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company's stock worth $36,000 after acquiring an additional 129 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Owens Corning in the 4th quarter worth $37,000. 88.40% of the stock is owned by institutional investors and hedge funds.

About Owens Corning

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company's core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.

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