Owens-Corning Stock (NYSE:OC), Trade Ideas

Owens-Corning

Owens-Corning Inc is a manufacturer of glass fiber utilized in composites and building materials. It has an integrated business model with three reportable segments: Composites, Insulation, and Roofing. It generates maximum revenue from the Roofing segment. Its Roofing segment laminate and strip asphalt roofing shingles, roofing components, synthetic packaging materials, and oxidized asphalt. It meets the growing demand for longer-lasting, aesthetically attractive laminate products with modest capital investment. Geographically the company generates the majority of its revenue from the United States.

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Analyst downgrades Masonite to Hold at a higher price target of $133 following lower-than-expected earnings. Acquisition by Owens Corning also on track.

Masonite&#39;s Mixed Fortunes: Analyst Shifts To Hold Amid North American Gains And European Struggles

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Across the recent three months, 8 analysts have shared their insights on Owens-Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>), expressing a variety of opinions spanning from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Owens-Corning, revealing an average target of $165.38, a high estimate of $188.00, and a low estimate of $145.00. This current average has increased by 2.33% from the previous average price target of $161.62. 
<img src="https://www.benzinga.com/files/images/story/2024/1712336455_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The analysis of recent analyst actions sheds light on the perception of Owens-Corning by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Paul Lejuez</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$169.00</td>
<td>$150.00</td>
</tr>
<tr>
<td>Garik Shmois</td>
<td>Loop Capital</td>
<td>Raises</td>
<td>Buy</td>
<td>$188.00</td>
<td>$167.00</td>
</tr>
<tr>
<td>Michael Rehaut</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$163.00</td>
<td>$164.00</td>
</tr>
<tr>
<td>John Lovallo</td>
<td>UBS</td>
<td>Lowers</td>
<td>Buy</td>
<td>$169.00</td>
<td>$175.00</td>
</tr>
<tr>
<td>Mike Dahl</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$175.00</td>
<td>$183.00</td>
</tr>
<tr>
<td>Keith Hughes</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$145.00</td>
<td>$115.00</td>
</tr>
<tr>
<td>Stephen Kim</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$154.00</td>
<td>$163.00</td>
</tr>
<tr>
<td>Matthew Bouley</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$160.00</td>
<td>$176.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Owens-Corning. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Owens-Corning compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Owens-Corning's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of Owens-Corning's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/OC/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Owens-Corning analyst ratings.</a>
<h2>Get to Know Owens-Corning Better</h2>
Owens-Corning Inc is a manufacturer of glass fiber utilized in composites and building materials. It has an integrated business model with three reportable segments: Composites, Insulation, and Roofing. It generates maximum revenue from the Roofing segment. Its Roofing segment laminate and strip asphalt roofing shingles, roofing components, synthetic packaging materials, and oxidized asphalt. It meets the growing demand for longer-lasting, aesthetically attractive laminate products with modest capital investment. Geographically the company generates the majority of its revenue from the United States.
<h3>Owens-Corning's Economic Impact: An Analysis</h3>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Growth: Over the 3 months period, Owens-Corning showcased positive performance, achieving a revenue growth rate of 0.83% as of 31 December, 2023. This reflects a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Industrials sector.
Net Margin: Owens-Corning's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 5.69%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Owens-Corning's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 2.55%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Owens-Corning's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 1.17%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: Owens-Corning's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.63.
<h2>The Basics of Analyst Ratings</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Forecasting The Future: 8 Analyst Projections For Owens-Corning

Citigroup analyst Paul Lejuez maintains Owens-Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>) with a Neutral and raises the price target from $150 to $169.

Citigroup Maintains Neutral on Owens-Corning, Raises Price Target to $169

Loop Capital analyst Garik Shmois maintains Owens-Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>) with a Buy and raises the price target from $167 to $188.

Loop Capital Maintains Buy on Owens-Corning, Raises Price Target to $188

Owens-Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>) has outperformed the market over the past 5 years by 14.44% on an annualized basis producing an average annual return of 27.14%. Currently, Owens-Corning has a market capitalization of $14.12 billion. 
Buying $100 In OC: If an investor had bought $100 of OC stock 5 years ago, it would be worth $328.04 today based on a price of $162.37 for OC at the time of writing.
<h3>Owens-Corning's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1710446426_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In Owens-Corning 5 Years Ago Would Be Worth This Much Today

Owens-Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>) has outperformed the market over the past 15 years by 9.64% on an annualized basis producing an average annual return of 23.6%. Currently, Owens-Corning has a market capitalization of $13.20 billion. 
Buying $100 In OC: If an investor had bought $100 of OC stock 15 years ago, it would be worth $2,840.26 today based on a price of $151.67 for OC at the time of writing.
<h3>Owens-Corning's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1709560826_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $100 In This Stock 15 Years Ago, You Would Have $2,800 Today

Stifel&nbsp;analyst Stanley S. Elliott&nbsp;&nbsp;downgraded&nbsp;Masonite International Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOOR#NYSE">DOOR</a>) to Hold from Buy at an increased&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/DOOR/analyst-ratings" rel="noreferrer noopener">price target of $133 (from $119)</a>.
The downgrade comes following the company&#8217;s fourth-quarter results reported this week.
The company posted revenue of $660.58 million, missing the consensus of $662.25 million, and adjusted EPS of $1.29, coming below the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/b37204041/masonite-international-corporation-reports-2023-fourth-quarter-and-full-year-financial-results" rel="noreferrer noopener">consensus of $1.31</a>.&nbsp;
The analyst writes that Masonite&#8217;s North American business saw upside in 2023 but was offset by continued weakness in Europe and Architectural.
Also, this month,&nbsp;Owens Corning Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>) agreed to acquire Masonite&nbsp;for $133.00 per share in cash, implying a transaction value of&nbsp;<a target="_blank" href="https://www.benzinga.com/m-a/24/02/37038695/building-materials-supplier-owens-corning-agrees-to-buy-masonite-in-3-9b-deal-expects-13b-revenue-bo" rel="noreferrer noopener">approximately $3.9 billion</a>.
The analyst writes that the acquisition remains on track to be closed by mid-2024 and doesn&#8217;t see any regulatory hurdles with this transaction.
Also, the analyst notes that M&amp;A will remain a key theme as the building products industry continues to innovate and consolidate.
The analyst writes that Masonite&#8217;s &#8216;Doors That Do More&#8217; Strategy will help drive consistent revenue and margin performance over time.&nbsp;
Also, the company&#8217;s focus on operational improvement and developing door systems versus slabs should enhance value and margins over time.&nbsp;
The analyst estimates revenue and EPS of $2.94 billion and $9.87 in 2024 and $3.13 billion and $11.55 in 2025.
Price Action: DOOR shares are trading higher by 0.05% at $129.84 on the last check Wednesday.

Masonite's Mixed Fortunes: Analyst Shifts To Hold Amid North American Gains And European Struggles

David Tepper&#8217;s Appaloosa Management navigated dynamic market conditions in the fourth quarter of 2023. Strategic moves by the hedge fund included entering new positions, boosting select tech holdings, reducing exposure to semiconductor stocks and making key exits. 
Tepper&#8217;s decisions provide a glimpse into his outlook and positioning for the first quarter of 2024, given diverse market trends.
<h2 class="wp-block-heading">New Positions: Oracle, ARK Innovation ETF</h2>
Appaloosa Management initiated substantial new positions, with the standout entries being in Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) and the ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>). The fund purchased 1.3 million shares of Oracle, valued at approximately $140 million, and secured a call option for nearly 2.6 million shares in the ARK Innovation ETF worth more than $133 million. Other notable entries included FMC Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMC#NYSE">FMC</a>) and General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>).
<h2 class="wp-block-heading">Tech Sector Adjustments &amp; Expansion in Home Improvement, Construction</h2>
Tepper&#8217;s fund reduced its exposure to semiconductor stocks such as Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), and Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>).
At the same time, it boosted positions in other tech giants, Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>). The fourth quarter filing showcased a calculated shift in the tech sector holdings, aligning with evolving market dynamics.
Appaloosa Management also diversified its portfolio by entering positions in the home improvement, construction, and building materials sectors. Notable additions included Masco Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAS#NYSE">MAS</a>), Mohawk Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHK#NYSE">MHK</a>), and Owens Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>), signaling the fund&#8217;s strategic interest in these industries.
<h2 class="wp-block-heading">Caesars Entertainment Stake Increase And Other Select Boosts and Exits</h2>
Appaloosa Management increased its positions in Caesars Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) by adding 725,000 new shares to its portfolio. The move emphasizes Tepper&#8217;s confidence in the gaming industry, where Caesars holds a prominent position, particularly in the mobile wagering arena.
Appaloosa Management also added midstream oil company MPLX LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPLX#NYSE">MPLX</a>) and tech stalwarts, including Alibaba, Amazon and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>). 
Notably, Appaloosa Management exited positions entirely in Arista Networks Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) and Enterprise Products Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPD#NYSE">EPD</a>).
Also Read: <a href="https://www.benzinga.com/startups/23/10/35267489/the-elite-billionaires-of-sports-ownership-meet-the-top-10-richest-team-owners">The Elite Billionaires of Sports Ownership: Meet The Top 10 Richest Team Owners</a>
Appaloosa Management&#8217;s fourth-quarter portfolio changes reflect a nuanced approach to navigating market shifts. The fund&#8217;s entry into new sectors, adjustments in the tech landscape, and strategic exits demonstrate Tepper&#8217;s proactive stance. As the market continues to evolve, investors will closely watch Appaloosa&#8217;s moves for insights into Tepper&#8217;s outlook and tactical positioning.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36660992/if-you-invested-1-000-in-this-ai-stock-when-david-teppers-appaloosa-first-entered-y">If You Invested $1,000 In This AI Stock When David Tepper&#8217;s Appaloosa First Entered, You&#8217;d Have Over 3X Your Money Today</a>

David Tepper's Appaloosa Management Q1 Portfolio Positioning: More Caesers Entertainment, Alibaba, Amazon, Microsoft; Less Semiconductor Stocks

RBC Capital analyst Mike Dahl maintains Owens-Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>) with a Outperform and lowers the price target from $183 to $175.

RBC Capital Maintains Outperform on Owens-Corning, Lowers Price Target to $175

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Piper Sandler raised the price target for HubSpot, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hubs#NYSE">HUBS</a>) from $630 to $675. Piper Sandler analyst Brent Bracelin maintained an Overweight rating. HubSpot shares rose 4.3% to close at $629.64 on Wednesday. <a href="https://www.benzinga.com/quote/HUBS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Needham boosted Entegris, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/entg#NASDAQ">ENTG</a>) price target from $120 to $150. Needham analyst Charles Shi maintained a Buy rating. Entegris shares gained 5.7% to close at $131.17 on Wednesday. <a href="https://www.benzinga.com/quote/ENTG/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Telsey Advisory Group boosted the price target for The Home Depot, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hd#NYSE">HD</a>) from $325 to $335. Telsey Advisory Group analyst Joseph Feldman maintained a Market Perform rating. Home Depot shares rose 0.2% to close at $358.23 on Wednesday. <a href="https://www.benzinga.com/quote/HD/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Goldman Sachs raised Ingredion Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ingr#NYSE">INGR</a>) price target from $122 to $135. Goldman Sachs analyst Adam Samuelson upgraded the stock from Neutral to Buy. Ingredion shares gained 2.2% to close at $110.79 on Wednesday. <a href="https://www.benzinga.com/quote/INGR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>UBS increased the price target for Medpace Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/medp#NASDAQ">MEDP</a>) from $282 to $452. UBS analyst John Sourbeer upgraded the stock from Neutral to Buy. Medpace shares gained 7.1% to close at $389.80 on Wednesday. <a href="https://www.benzinga.com/quote/MEDP/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Evercore ISI Group cut the price target for Owens Corning (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oc#NYSE">OC</a>) from $163 to $154. Evercore ISI Group analyst Stephen Kim downgraded the stock from Outperform to In-Line. Owens Corning shares fell 2.7% to close at $143.03 on Wednesday. <a href="https://www.benzinga.com/quote/OC/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Morgan Stanley increased United States Steel Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/x#NYSE">X</a>) price target from $40 to $51. Morgan Stanley analyst Carlos De Alba downgraded the stock from Overweight to Equal-Weight. United States Steel shares rose 0.1% to close at $45.64 on Wednesday. <a href="https://www.benzinga.com/quote/X/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Redburn Atlantic cut Comcast Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cmcsa#NASDAQ">CMCSA</a>) price target from $50 to $44. Redburn Atlantic analyst Hamilton Faber downgraded the stock from Buy to Neutral. Comcast shares rose 0.4% to close at $42.02 on Wednesday. <a href="https://www.benzinga.com/quote/CMCSA/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Keybanc boosted Uber Technologies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uber#NYSE">UBER</a>) price target from $79 to $90. Keybanc analyst Justin Patterson maintained an Overweight rating. Uber shares gained 14.7% to close at $79.15 on Wednesday. <a href="https://www.benzinga.com/quote/UBER/analyst-ratings">See how other analysts view this stock.</a></li>
<li>HSBC cut Akamai Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/akam#NASDAQ">AKAM</a>) price target from $109 to $96. HSBC analyst Stephen Bersey downgraded the stock from Hold to Reduce. Akamai shares fell 8.2% to close at $114.80 on Wednesday. <a href="https://www.benzinga.com/quote/AKAM/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/02/37149816/cisco-deere-and-3-stocks-to-watch-heading-into-thursday"> Cisco, Deere And 3 Stocks To Watch Heading Into Thursday </a>

Evercore ISI Group analyst Stephen Kim downgrades Owens-Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>) from Outperform to In-Line and lowers the price target from $163 to $154.

Evercore ISI Group Downgrades Owens-Corning to In-Line, Lowers Price Target to $154

Owens Corning Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>) reported a fourth-quarter FY23 net sales growth of 1% Y/Y to $2.30 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/b37119104/owens-corning-delivers-full-year-net-sales-of-9-7-billion-generates-earnings-of-1-2-billion-and-ad" rel="noreferrer noopener">beating the consensus of $2.25 billion</a>.
Sales by segments: Composites $514 million (-13% Y/Y), Insulation $931 million (-3% Y/Y), and Roofing $928 million (+16% Y/Y).
Adjusted EPS was $3.21, up from $2.49 a year ago, above&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">the consensus of $2.86</a>.
Adjusted EBIT increased 18% Y/Y to $392 million, with margin expanding to 17% from 15% prior year quarter.
Adjusted EBITDA rose by 13% Y/Y to $518 million, and margin expanded to 22% from 20% a year ago.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/37116549/owens-corning-likely-to-report-higher-q4-earnings-here-are-the-recent-forecast-changes-from-wall-st" rel="noreferrer noopener">Owens Corning Likely To Report Higher Q4 Earnings; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a>
Operating Cash Flow for the year was $1.7 billion, and free cash flow stood at $1.2 billion.
During the year, the company returned $812 million to shareholders through dividends and share repurchases.
In December 2023, Owens Corning&#8217;s Board of Directors declared quarterly cash dividends per share of $0.60, a 15% increase vs. associated&nbsp;<a target="_blank" href="https://www.benzinga.com//node/36143818" rel="noreferrer noopener">prior quarterly dividends.</a>
Outlook: For first-quarter FY24, the company expects overall performance to result in net sales slightly below Y/Y while generating&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">mid-teen EBIT margins</a>.
For FY24, Owens Corning expects general corporate expenses of $240 million-$250 million and capital additions of ~$550 million.
Last week, the company agreed to acquire&nbsp;Masonite International Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOOR#NYSE">DOOR</a>) for $133.00 per share in cash, representing an implied transaction&nbsp;<a target="_blank" href="https://www.benzinga.com/m-a/24/02/37038695/building-materials-supplier-owens-corning-agrees-to-buy-masonite-in-3-9b-deal-expects-13b-revenue-bo" rel="noreferrer noopener">value of approximately $3.9 billion</a>.
Price Action: OC shares are trading lower by 1.75% at $144.47 on the last check Wednesday.
Photo via Wikimedia Commons

Earnings

Large Cap

Guidance

Dividends

Buybacks

Bullish Q4 Earnings, Modest Guidance: Can Building Materials Supplier Owens Corning Find the Right Roof?

<ul>
<li>The key economic factors that impact the company&#39;s business are residential repair and remodeling activity, U.S. housing starts, global commercial construction activity, and global industrial production.</li>
<li>Macroeconomic trends outside of the U.S. and elevated interest rates continue to result in slow global economic growth, but the company expects most of its building and construction end markets to be relatively stable in the near term.</li>
</ul>

For Q1, Owens Corning Expects Net Sales To Be Slightly Below Y/Y & Generate Mid-Teens Margins

Owens-Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>) reported quarterly adjusted earnings of $3.21 per share which beat the analyst consensus estimate of $2.86 by 12.24 percent. This is a 28.92 percent increase over earnings of $2.49 per share from the same period last year. The company reported quarterly sales of $2.30 billion which beat the analyst consensus estimate of $2.25 billion by 2.40 percent. This is a 0.83 percent increase over sales of $2.29 billion the same period last year.

Owens-Corning Q4 Adj. EPS $3.21 Beats $2.86 Estimate, Sales $2.30B Beat $2.25B Estimate

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Earnings Scheduled For February 14, 2024

The CNN Money Fear and Greed index showed decline in the overall market sentiment, with the index moving to the &quot;Greed&quot; zone on Tuesday.
U.S. stocks closed lower on Tuesday following the release of inflation data, with the Dow Jones index dipping more than 500 points during the session.
The annual inflation rate in the U.S. eased to 3.1% in January from 3.4% in December, but came higher than market estimates of 2.9%.
JetBlue Airways Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jblu#NASDAQ">JBLU</a>) shares jumped 21.6% on Tuesday after Carl Icahn disclosed a 9.91% stake in the company in a 13D filing. Coca-Cola Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ko#NYSE">KO</a>) posted better-than-expected sales for its fourth quarter.
The 2-year Treasury yield surged past 4.66%, while the 10-year yield rose above 4.32% following the release of inflation data.
All sectors on the S&amp;P 500 closed on a negative note, with utilities, consumer discretionary and real estate stocks recording the biggest losses on Tuesday.
The Dow Jones closed lower by around 525 points to 38,272.75 on Tuesday. The S&amp;P 500 fell 1.37% at 4,953.17, while the Nasdaq Composite fell 1.80% at 15,655.60 during Tuesday&rsquo;s session.
Investors are awaiting earnings results from Owens Corning (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oc#NYSE">OC</a>), The Kraft Heinz Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/khc#NASDAQ">KHC</a>), Cisco Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/csco#NASDAQ">CSCO</a>) and Louisiana-Pacific Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lpx#NYSE">LPX</a>) today.
At a current reading of 68.75, the index moved to the &quot;Greed&quot; zone on Tuesday, versus a prior reading of 72.81.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
&nbsp;
Read Next: <a href="https://www.benzinga.com/news/earnings/24/02/37086555/how-to-earn-500-a-month-from-kraft-heinz-stock-ahead-of-q4-earnings-results"> How To Earn $500 A Month From Kraft Heinz Stock Ahead Of Q4 Earnings Results</a>

JBLU

Fear & Greed Index Moves To 'Greed' Zone Following Inflation Data; Dow Tumbles Over 500 Points

With U.S. stock futures trading mixed this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
Wall Street expects The Kraft Heinz Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/khc#NASDAQ">KHC</a>) to report quarterly earnings at 77 cents per share on revenue of $6.99 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Kraft Heinz shares rose 0.1% to $36.14 in after-hours trading.
Lyft, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lyft#NASDAQ">LYFT</a>) reported fourth-quarter sales of $1.22 billion and gross bookings of $3.7 billion, up 17% year-over-year. The company&rsquo;s CFO, Erin Brewer, said the adjusted EBITDA margin is projected to expand 50 basis points in 2024. Lyft shares jumped 15.9% to $14.06 in the after-hours trading session.
Analysts expect&nbsp;Cisco Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/csco#NASDAQ">CSCO</a>) to earn 84 cents per share on revenue of $12.71 billion for the latest quarter. The company will release earnings after the markets close. Cisco shares rose 0.1% to $49.70 in after-hours trading.
Check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
Zillow Group Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/z#NASDAQ">Z</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zg#NASDAQ">ZG</a>) posted upbeat results for its fourth quarter. The company said it sees first-quarter revenue in the range of $495 million to $510 million versus estimates of $500.67 million. Zillow shares gained 6.2% to $57.20 in the after-hours trading session.
Analysts expect Owens Corning (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oc#NYSE">OC</a>) to report quarterly earnings at $2.86 per share on revenue of $2.25 billion before the opening bell. Owens Corning shares rose 0.4% to $147.65 in after-hours trading.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/02/37086792/jim-cramer-calls-affirm-a-winner-but-not-c3-ai-i-cant-recommend-a-stock-with-no-earnings"> Jim Cramer Calls Affirm &#39;A Winner,&#39; But Not C3.ai: &#39;I Can&#39;t Recommend A Stock With No Earnings&#39; </a>

LYFT

Kraft Heinz, Lyft And 3 Stocks To Watch Heading Into Wednesday

Owens Corning (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oc#NYSE">OC</a>) is expected to release earnings results for its fourth quarter, before the <a href="https://www.benzinga.com/quote/OC/earnings">opening bell on Feb. 14, 2024.</a>
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 <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Owens Corning recently agreed to acquire Masonite International Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/door#NYSE">DOOR</a>) for $133.00 per share in cash, representing an approximate 38% premium to Masonite&rsquo;s <a href="https://www.benzinga.com/news/24/02/37040609/why-take-two-interactive-software-shares-are-trading-lower-by-around-9-here-are-other-stocks-moving">closing share price on Feb. 8</a>.
Owens Corning shares fell 1.5% to close at $147.04 on Tuesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie"> Analyst Stock Ratings </a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let&rsquo;s have a look at how Benzinga&rsquo;s most-accurate <a href="https://www.benzinga.com/quote/OC/analyst-ratings"> analysts have rated the company </a> in the recent period.
<ul>
<li>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%.</li>
<li>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%.</li>
<li>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%.</li>
<li>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%.</li>
<li>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%.</li>
</ul>
&nbsp;
Read This Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/02/37086792/jim-cramer-calls-affirm-a-winner-but-not-c3-ai-i-cant-recommend-a-stock-with-no-earnings"> Jim Cramer Calls Affirm &#39;A Winner,&#39; But Not C3.ai: &#39;I Can&#39;t Recommend A Stock With No Earnings&#39; </a>

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

Owens-Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>) is set to give its latest quarterly earnings report on Wednesday, 2024-02-14. Here's what investors need to know before the announcement.
Analysts estimate that Owens-Corning will report an earnings per share (EPS) of $2.86. 
Owens-Corning bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.33, which was followed by a 2.95% increase in the share price the next day.
Here's a look at Owens-Corning's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>3.82</td>
<td>3.23</td>
<td>2.22</td>
<td>2.36</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>4.15</td>
<td>4.22</td>
<td>2.77</td>
<td>2.49</td>
</tr>
<tr>
<td>Price Change %</td>
<td>2.95%</td>
<td>0.4%</td>
<td>5.43%</td>
<td>-1.76%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1707832893_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Owens-Corning were trading at $149.25 as of February 09. Over the last 52-week period, shares are up 44.2%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/OC/earnings">To track all earnings releases for Owens-Corning visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Preview Of Owens-Corning's Earnings

Ratings for Owens-Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $161.0, a high estimate of $176.00, and a low estimate of $147.00. Observing a 21.05% increase, the current average has risen from the previous average price target of $133.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1707742848_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The perception of Owens-Corning by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Matthew Bouley</td>
<td>Barclays</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$160.00</td>
<td>-</td>
</tr>
<tr>
<td>Susan Maklari</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Neutral</td>
<td>$147.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Michael Rehaut</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$161.00</td>
<td>$116.00</td>
</tr>
<tr>
<td>Matthew Bouley</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$176.00</td>
<td>$153.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Owens-Corning. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Owens-Corning compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Owens-Corning's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
For valuable insights into Owens-Corning's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/OC/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Owens-Corning analyst ratings.</a>
<h2>Unveiling the Story Behind Owens-Corning</h2>
Owens-Corning Inc is a manufacturer of glass fiber utilized in composites and building materials. It has an integrated business model with three reportable segments: Composites, Insulation, and Roofing. The company generates maximum revenue from the Insulation segment. Its Insulation segment manufactures and sells thermal and acoustical batts, loosefill insulation, spray foam insulation, foam sheathing, and accessories. It also manufactures and sells glass fiber pipe insulation, energy efficient flexible duct media, bonded and granulated mineral wool insulation, cellular glass insulation, and foam insulation used in above- and below-grade construction applications.
<h3>Financial Milestones: Owens-Corning's Journey</h3>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
Revenue Growth: Owens-Corning's revenue growth over a period of 3 months has faced challenges. As of 30 September, 2023, the company experienced a revenue decline of approximately -1.98%. This indicates a decrease in the company's top-line earnings. When compared to others in the Industrials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Owens-Corning's net margin excels beyond industry benchmarks, reaching 13.59%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 6.66%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Owens-Corning's ROA excels beyond industry benchmarks, reaching 3.05%. This signifies efficient management of assets and strong financial health.
Debt Management: Owens-Corning's debt-to-equity ratio is below the industry average at 0.63, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>What Are Analyst Ratings?</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.