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Fly News Breaks for October 25, 2018
OC
Oct 25, 2018 | 09:14 EDT
Credit Suisse analyst Susan Maklari lowered her price target for Owens Corning to $47 from $57 saying that the company's Q3 results further her Neutral rating stance. Although pricing over the last several quarters-especially in roofing and insulation-allowed it to catch up with inflation, volumes across geographies were below expectations, she contends. Maklari also notes that the outlook for more subdued activity through the end of 2018 is also limiting upside to results.
News For OC From the Last 2 Days
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Apr 25, 2024 | 09:32 EDT
Argus raised the firm's price target on Owens Corning to $182 from $175 and keeps a Buy rating on the shares. The analyst cites the company's Q1 earnings beat while noting that the composite and building materials demand is impacted by the changes in the housing and construction markets which have been strong in recent quarters. Argus adds that the company's balance sheet is clean, and the management has recently hiked the dividend by 15%, signaling confidence in the outlook and a commitment to shareholder returns.
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Apr 25, 2024 | 08:56 EDT
RBC Capital raised the firm's price target on Owens Corning to $192 from $175 and keeps an Outperform rating on the shares. The company's Q1 results saw another strong margin result in Roofing, with incremental pricing gains in Roofing/Insulation driving further upside while more than offsetting ongoing Composites weakness, the analyst tells investors in a research note. RBC adds that it continues to see strength supported by lean channel inventories and solid sell-through even as comps become more difficult.
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Apr 24, 2024 | 06:23 EDT
Sees Q2 EBIT margin 20%. Sees FY24 effective tax rate 24%-26%.
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Apr 24, 2024 | 06:12 EDT
Sees FY24 interest expense $70M-$80M; effective tax rate on adjusted earnings 24%-26%; capital additions $550M; and depreciation and amortization $550M.
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