Owens Corning (NYSE:OC) Announces Earnings Results, Beats Expectations By $0.37 EPS

Owens Corning (NYSE:OC) issued its earnings results on Wednesday. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.01 by $0.37, Briefing.com reports. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the firm earned $4.15 EPS. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. Owens Corning updated its Q4 2024 guidance to EPS.

Owens Corning Trading Up 2.0 %

Owens Corning stock traded up $3.65 during trading hours on Thursday, hitting $188.29. The company had a trading volume of 438,345 shares, compared to its average volume of 680,738. Owens Corning has a 1 year low of $120.17 and a 1 year high of $191.44. The firm has a market cap of $16.37 billion, a P/E ratio of 15.83, a P/E/G ratio of 2.20 and a beta of 1.41. The company has a 50-day moving average price of $174.98 and a two-hundred day moving average price of $173.36. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio is 20.32%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the company’s 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 completion of the sale, the insider now owns 60,130 shares in the company, valued at $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Marcio A. Sandri sold 3,050 shares of the 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 completion of the sale, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value 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 trade represents 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 corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on OC. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Wells Fargo & Company raised their target price on Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday. Royal Bank of Canada increased their price target on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday. Citigroup raised Owens Corning from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $178.00 to $191.00 in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group boosted their price target on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” 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.