Owens Corning (NYSE:OC) is projected to declare fiscal fourth quarter financial results right before the stock market’s official open on February 08, 2017. The stock added about 4.7 percent in price since last results when it was at $49.57 a share. Based on the most relevant past-periods data, there is an 53.57 percent probability for this firm’s share price to go down following next quarterly results. Earnings reaction history tells us that the equity price moved down 15 times out of last 28 reported quarters. It has beaten earnings-per-share estimates 83% of the time in its last 12 earnings reports. It fell short of earnings estimates on 2 occasions, and it has met expectations 0 time.
Here’s how traders responded to OC earnings announcements over the past few quarters.
Owens Corning (OC) Earnings Surprises & Reaction
Given its history, the average earnings announcement surprise was 43.12 percent over the past four quarters. Back on October 26, 2016, it posted earnings per-share earnings at $1.09 which beat the consensus $0.99 projection (positive surprise of10.1%. For the quarter, revenue came in at 1.52B versus consensus estimate of 1.51B. The stock gained 0.59 percent the session following the earnings reports were released, and on 7th day price change was -5.06 percent.
On July 27, 2016, it reported earnings at $1.29 a share compared with the consensus estimate of $0.85 per share (positive surprise of 51.76%). Revenue of 1.55B for that quarter was above the $1.47B analysts had expected. The stock retreated -4.21% the day following the earnings announcement, and on 7th day price change was -1.89%.
On April 27, 2016, it recorded $0.53 a share in earnings which topped the consensus estimate of $0.33 (positive surprise of 60.61%). Revenue for the quarter was $1.23B while analysts called for revenues to be $1.24B. The stock dropped -6.12% the day following the earnings data was made public, and on 7th day price change was -9.25%.
On February 10, 2016, it announced earnings per share at $0.66 versus the consensus estimate of $0.44 per share (positive surprise of 50%). That came on revenues of $1.3B for that period. Analysts had expected $1.29B in revenue.
Owens Corning Earnings Estimates
As Q4 earnings announcement date approaches, Wall Street is expecting earnings per share of $0.56. The analysts’ present consensus range is $0.41-$0.77 for EPS. The market consensus range for revenue is between $1.2B and $1.36B, with an average of $1.28B.
Owens Corning (NYSE:OC) last ended at $51.66, sending the company’s market cap near $5.85B. The consensus 12-month price target from analysts covering the stock is $55.67. The share price has declined -11.34% from its top level in 52 weeks and dropped 0.19% this year. It recently traded in a range of $51.41-$52.23 at a volume of 1021638 shares. The recent trading ended with the price nearly -0.58 lower for the last 5 trading days, rebounding 34.54% from its 52-week low.