Owens Corning Likely To Report Higher Q4 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Author: Avi Kapoor | February 14, 2024 01:35am

Owens Corning (NYSE:OC) is expected to release earnings results for its fourth quarter, before the opening bell on Feb. 14, 2024.

Analysts expect the Toledo, Ohio-based company to report quarterly earnings at $2.86 per share, up from year-ago earnings of $2.49 per share. Owens Corning is projected to report quarterly revenue of $2.25 billion, compared to $2.29 billion in the year-earlier quarter, according to data from Benzinga Pro.

Owens Corning recently agreed to acquire Masonite International Corporation (NYSE:DOOR) for $133.00 per share in cash, representing an approximate 38% premium to Masonite’s closing share price on Feb. 8.

Owens Corning shares fell 1.5% to close at $147.04 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Barclays analyst Matthew Bouley downgraded the stock from Overweight to Equal-Weight with a price target of $160 on Feb. 12, 2024. This analyst has an accuracy rate of 79%.
• Goldman Sachs analyst Susan Maklari maintained a Neutral rating and boosted the price target from $130 to $147 on Dec. 14, 2023. This analyst has an accuracy rate of 65%.
• JP Morgan analyst Michael Rehaut maintained a Neutral rating and increased the price target from $116 to $161 on Dec. 14, 2023. This analyst has an accuracy rate of 70%.
• Truist Securities analyst Keith Hughes maintained a Hold rating and lowered the price target from $135 to $115 on Oct. 26, 2023. This analyst has an accuracy rate of 87%.
• RBC Capital analyst Mike Dahl maintained an Outperform rating and lowered the price target from $168 to $155 on Oct. 26, 2023. This analyst has an accuracy rate of 73%.

 

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Posted In: DOOR OC