Owens Corning (NYSE:OC) Issues Quarterly Earnings Results, Beats Estimates By $0.33 EPS

Owens Corning (NYSE:OC) posted its quarterly earnings data on Wednesday. The construction company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33, Briefing.com reports. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the company posted $4.15 EPS. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. Owens Corning updated its Q4 2024 guidance to EPS.

Owens Corning Trading Up 1.6 %

Shares of NYSE:OC opened at $190.44 on Friday. The company has a market capitalization of $16.56 billion, a PE ratio of 16.21, a P/E/G ratio of 2.27 and a beta of 1.41. The company has a current ratio of 1.44, a quick ratio of 0.79 and a debt-to-equity ratio of 0.89. Owens Corning has a 12-month low of $121.08 and a 12-month high of $193.93. The business’s fifty day simple moving average is $175.83 and its 200-day simple moving average is $173.64.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.26%. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Insider Buying and Selling

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the transaction, the insider now directly owns 60,130 shares in the company, valued at approximately $10,222,100. The trade was a 0.00 % 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. In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was a 0.00 % 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 company insiders.

Analyst Ratings Changes

OC has been the topic of several recent analyst reports. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday. Barclays reduced their target price on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Evercore ISI raised their price target on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and a consensus target price of $192.62.

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.