|Bid||49.12 x 800|
|Ask||49.15 x 800|
|Day's Range||48.84 - 49.46|
|52 Week Range||40.64 - 67.43|
|Beta (3Y Monthly)||1.62|
|PE Ratio (TTM)||10.97|
|Earnings Date||Jul 23, 2019 - Jul 29, 2019|
|Forward Dividend & Yield||0.88 (1.72%)|
|1y Target Est||59.94|
Nomura Instinet downgraded several companies dependent on housing market growth Thursday, citing U.S.-China trade uncertainty that could put a damper on consumer confidence and economic growth. The Analyst ...
This is the fifth consecutive year Owens Corning has been named to the list. “It is an honor to earn the No. 1 ranking on this year’s 100 Best Corporate Citizens list,” said Owens Corning Chief Executive Officer Brian Chambers. The 20th annual 100 Best Corporate Citizens list recognizes the standout global environmental, social and governance (ESG) performances of the largest U.S.-based public companies.
With the publishing of its 2018 Sustainability Report, titled “Difference Driven,” Owens Corning (OC) is proud to showcase how the company’s employees deliver a material difference every day for its stakeholders. For Owens Corning, “Difference Driven” means always looking ahead to what its workforce can do next to materially improve the world. “We aspire to be a net-positive company, where our handprint – our positive impact – exceeds our footprint,” Chief Executive Officer Brian Chambers said.
Owens Corning (OC) today announced it has received third-party R-value certification across all its fiberglass and mineral wool batts and rolls sold in the United States. This validation was awarded from the North American Insulation Manufacturers Association (NAIMA) following testing and independent validation by an accredited third-party lab. “This certification is the most powerful third-party validation of R-value available to provide our customers with added confidence that what they see on the packaging is what they get in thermal performance,” said Julian Francis, president of the Owens Corning Insulation business.
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Owens Corning NYSE:OCView full report here! Summary * Perception of the company's creditworthiness is negative * ETFs holding this stock are seeing positive inflows but are weakening * Bearish sentiment is low Bearish sentimentShort interest | PositiveShort interest is low for OC with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NegativeETF activity is negative and may be weakening. The net inflows of $1.15 billion over the last one-month into ETFs that hold OC are among the lowest of the last year and appear to be slowing. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Industrials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swap | NegativeThe current level displays a negative indicator. OC credit default swap spreads are at their highest levels for the past 3 years, which indicates the market's more negative perception of the company's credit worthiness.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Solid demand for innovative products and 80/20 simplification initiatives help Gibraltar (ROCK) to post higher first-quarter 2019 earnings. Yet inclement weather and higher costs remain concerns.
Strong aggregates business, and pricing and operating efficiencies help Vulcan Materials (VMC) to post solid first-quarter 2019 results.
Armstrong World Industries (AWI) reports strong first-quarter 2019 results, courtesy of higher volumes in the Architectural Specialties business and AUV growth in the Mineral Fiber segment.
Higher shipments and pricing, as well as cost management help Martin Marietta Materials (MLM) to post solid first-quarter 2019 results.
Owens Corning (OC) posts lower-than-expected Q1 earnings, primarily attributable to reduced contribution from Roofing and Insulation businesses.
On a per-share basis, the Toledo, Ohio-based company said it had net income of 40 cents. Earnings, adjusted for non-recurring costs, were 54 cents per share. The results fell short of Wall Street expectations. ...
"Market conditions are changing. The continued rise in interest rates suggests we are in the early stages of a bond bear market, which could intensify as central banks withdraw liquidity. The receding tide of liquidity will start to reveal more rocks beyond what has been exposed in emerging markets so far, and the value of […]
Moody's Investors Service ("Moody's") assigned a first time B1 Corporate Family Rating and B1-PD Probability of Default Rating to TAMKO Building Products, LLC ("TAMKO"), a manufacturer and marketer of roofing products and accessories in the United States. In a related rating action, Moody's assigned a B2 rating to the company's proposed $600 million senior secured term loan due 2026. TAMKO will use proceeds from the term loan, along with an estimated $75 million under the company's new revolving credit facility, to make a distribution to existing shareholders, repay outstanding debt, and pay related fees and expenses.
Gratia Capital is a Los Angeles-based multi-strategy, value, and event-oriented hedge fund. It was founded seven years ago by Steven Pei, a former Vice President at Canyon Capital Advisors. To form his own investment advisor, Steven Pei got the seed money from Geoffrey Raynor’s Investment in the amount of $25 million. Steven Pei is the […]
When you buy and hold a stock for the long term, you definitely want it to provide a positive return. Furthermore, you'd generally like to see the share price rise faster than the market But Owens Corning (NYSE:OC) has fallen...
Owens Corning (OC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Owens Corning (NYSE:OC) may not be a household name for investors, but you've probably used their products in your everyday life. The company is a global leader in roofing shingles, building insulation materials and fiberglass composites. The firm generates more than $7 billion in annual sales, has 20,000 employees, sells to 33 different countries and has been on the Fortune 500 list for more than 60 consecutive years. * 7 Energy Stocks to Buy as Oil Booms Source: Shutterstock Unfortunately, Owens Corning stock hasn't been a safe shelter for shareholders over the past year. If anything, the stock has developed a serious water leak, with shares tumbling from as high as $95 to just $52 now. But the downside seems seriously overdone. Here's why OC stock can make a full recovery in coming quarters. Owens Corning Isn't Primarily a New Homes PlayPart of the reason that OC stock has struggled over the past year is that investors are worried about new home demand. After several robust years, the new housing market has slowed dramatically across much of the United States. It's not hard to understand why. The Fed's rather aggressive rate-hiking campaign caused mortgage rates to surge. This, in turn, caused prospective homeowners to delay or forgo new home buying decisions altogether.OC stock, like many other building-materials plays, slumped. This isn't fair or correct on the market's part, however. Owens Corning does not primarily rely on new home sales for its revenues.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAccording to the latest corporate presentation, the company gets just 13% of its revenues from U.S. new residential construction. U.S. residential and remodeling is one-third of the overall business, with international sales being another third. The remaining 19% of revenues come from U.S. commercial and industrial uses. Thus, tying OC stock's fate to that of the home-building market makes little sense. A Relatively Diversified BusinessThe good news doesn't stop there. The company's bread-and-butter business is roofing. Within roofing, more than 80% of revenues come from home repair and maintenance. This is recurring revenue, rain or shine. Roofs get old, they get hit with hail, excessive snowfall and the like. Regardless of the economy, people need to keep their roofs weatherproof. Roof sales for new homes make up less than 10% of revenues.The company has another business, composites, that has very little exposure to the housing market at all. Within composites, 58% of sales go to international markets, while 29% of revenues come from U.S. industrial and commercial buyers. Again, that's solid diversification away from housing. Only insulation draws a major chunk of revenues from new homes, but, even there, international is a bigger buyer as well.Make no mistake, OC stock is powered by a diverse and robust line of businesses. Interestingly enough, all three primary business lines had between $2 billion and $3 billion in sales in 2018, showing how the company isn't overly reliant on any one business segment or end customer. Bargain Basement PricingAs a result of the shellacking over the last year, OC stock is now trading at a compelling valuation. In fact, it is selling for just 10 times trailing earnings and 9x forward earnings. That's right, despite the huge drop in the stock price, Owens Corning's earnings are still set to increase nicely in 2019.If you're wondering how Owens Corning has traded historically, it looks very cheap on that metric as well. OC stock hasn't sold at this low of a P/E ratio since 2011. Between 2014 and last year, it tended to trade in the 17-20x earnings range, while periodically moving above that level. Merely returning to 18x earnings would imply that that stock doubles in fairly short order.Other metrics support the notion that Owens Corning is cheap as well. For example, it is selling at less than 1x sales, which is generally cheap for a building materials company, particularly one that is not so levered to the more volatile new housing cycle. It is also selling at a PEG ratio of less than 1, suggesting that analysts are relatively confident of future earnings growth, rather than the current valuation being a so-called value trap.Finally, the company, while never known as a dividend stock, hit its highest level of dividend yield to date during the 2018 correction and is still paying a close to 2% annual yield. Owens Corning Stock VerdictDespite the battered stock price, OC stock still offers a great deal of value for shareholders. For one thing, the company is getting serious about shareholders returns. The company has cut costs and used the savings to pay the dividend and simultaneously pay down debt. Additionally, the company has suggested that it may have wiggle room for a stock buyback in 2019 as well.Its cost savings have almost doubled profit margins from a decade ago, setting up a rather attractive growth trajectory when combined with a starting P/E ratio of 10. There's no guarantee that OC stock will soar in 2019. The new housing market may remain subdued for quite awhile, leaving Owens Corning's stock sector out to dry for the time being. Eventually though, the market should wake up to the strong earnings and improving prospects for the dividend and potential share buyback going forward. * 10 Stocks That Are Screaming Buys Right Now At 9x forward earnings, it doesn't take much for shareholders to win here.At the time of this writing, Ian Bezek held no positions in any of the aforementioned securities. You can reach him on Twitter at @irbezek. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Internet Stocks to Watch * 7 AI Stocks to Watch with Strong Long-Term Narratives * 10 Dow Jones Stocks Holding the Blue Chip Index Back Compare Brokers The post Owens Corning: What to Do When the Roof Caves In appeared first on InvestorPlace.