Owens Corning (OC) Earning Somewhat Favorable News Coverage, Report Finds

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Press coverage about Owens Corning (NYSE:OC) has trended somewhat positive this week, according to Accern. The research firm ranks the sentiment of press coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Owens Corning earned a media sentiment score of 0.05 on Accern’s scale. Accern also assigned headlines about the construction company an impact score of 46.8330106222068 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

OC stock opened at $58.28 on Monday. Owens Corning has a 1-year low of $56.25 and a 1-year high of $96.52. The company has a quick ratio of 0.88, a current ratio of 1.59 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 0.68 and a beta of 1.04.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, July 25th. The construction company reported $1.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.28). Owens Corning had a return on equity of 11.72% and a net margin of 4.47%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company earned $1.20 earnings per share. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. sell-side analysts expect that Owens Corning will post 5.27 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 2nd. Shareholders of record on Tuesday, July 17th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, July 16th. This represents a $0.84 annualized dividend and a yield of 1.44%. Owens Corning’s payout ratio is 19.09%.

A number of research analysts recently issued reports on the company. Wells Fargo & Co reiterated a “hold” rating on shares of Owens Corning in a research note on Thursday, July 26th. Bank of America downgraded Owens Corning from a “buy” rating to a “neutral” rating and cut their price objective for the company from $90.00 to $75.00 in a research note on Thursday, July 26th. Zacks Investment Research upgraded Owens Corning from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Monday, July 2nd. Stifel Nicolaus cut their price objective on Owens Corning from $105.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 26th. Finally, Barclays cut their price objective on Owens Corning from $93.00 to $80.00 and set an “equal weight” rating for the company in a research note on Thursday, April 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. Owens Corning currently has an average rating of “Hold” and a consensus target price of $80.31.

Owens Corning Company Profile

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential and commercial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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