News headlines about Owens Corning (NYSE:OC) have trended very positive this week, Accern reports. The research group identifies positive and negative news coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Owens Corning earned a coverage optimism score of 0.52 on Accern’s scale. Accern also assigned news stories about the construction company an impact score of 28 out of 100, meaning that recent news coverage is unlikely to have an effect on the stock’s share price in the immediate future.
These are some of the news stories that may have impacted Accern’s scoring:
- Investor Update: Company Share Focus for Owens Corning Inc (NYSE:OC) – Jonesboro Recorder (jonesbororecorder.com)
- Owens Corning Inc (OC) Rating Reiterated by KeyCorp (americanbankingnews.com)
- Owens-Illinois Inc (OI) Shares Sold by Meadow Creek Investment Management LLC (fumbleboard.com)
- Owens Corning Inc (OC) Upgraded by BidaskClub to “Buy” (americanbankingnews.com)
- The Owens-Illinois, Inc. (OI) Stake Increased by Ameriprise Financial Inc (healthcaremenu.net)
Several brokerages have recently issued reports on OC. KeyCorp restated an “overweight” rating and issued a $75.00 target price (up previously from $70.00) on shares of Owens Corning in a report on Monday. BidaskClub upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday. Credit Suisse Group began coverage on shares of Owens Corning in a report on Thursday, June 22nd. They issued an “outperform” rating and a $75.00 target price on the stock. Macquarie upgraded shares of Owens Corning from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $54.00 to $68.00 in a report on Tuesday, June 20th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $71.00 target price on shares of Owens Corning in a report on Monday, June 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. Owens Corning presently has an average rating of “Buy” and a consensus target price of $64.74.
Owens Corning (NYSE OC) opened at 66.70 on Tuesday. Owens Corning has a 52-week low of $46.45 and a 52-week high of $67.27. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of 17.48 and a beta of 1.04. The stock has a 50 day moving average price of $62.73 and a 200 day moving average price of $58.70.
Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, April 26th. The construction company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Owens Corning had a return on equity of 11.56% and a net margin of 7.38%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. Analysts expect that Owens Corning will post $4.03 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Thursday, July 13th. Owens Corning’s dividend payout ratio (DPR) is presently 21.00%.
In other Owens Corning news, Director James J. Mcmonagle sold 2,000 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $64.60, for a total value of $129,200.00. Following the completion of the sale, the director now directly owns 50,906 shares in the company, valued at $3,288,527.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Arnaud Genis sold 21,544 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $65.44, for a total value of $1,409,839.36. Following the completion of the sale, the insider now owns 80,143 shares of the company’s stock, valued at $5,244,557.92. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.
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About Owens Corning
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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