Owens Corning Likely To Report Higher Q4 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
Portfolio Pulse from Avi Kapoor
Owens Corning (NYSE:OC) is anticipated to report higher Q4 earnings before the opening bell on Feb. 14, 2024, with an expected EPS of $2.86, up from $2.49 the previous year. Revenue is projected at $2.25 billion, slightly down from $2.29 billion. The company has also agreed to acquire Masonite International Corporation (NYSE:DOOR) for $133.00 per share in cash. Following the news, OC shares fell 1.5% to close at $147.04. Analysts have provided mixed ratings and price target adjustments for OC.
February 14, 2024 | 6:35 am
News sentiment analysis
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NEUTRAL IMPACT
Owens Corning is expected to report higher Q4 earnings with an EPS of $2.86 and revenue of $2.25 billion. The company's acquisition of DOOR and mixed analyst ratings could influence its stock price.
The expected increase in earnings and the acquisition of DOOR indicate positive momentum, but the slight revenue decline and mixed analyst ratings introduce uncertainty, leading to a neutral short-term impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Masonite International Corporation is being acquired by Owens Corning for $133.00 per share in cash, a 38% premium over its closing price on Feb. 8.
The acquisition of DOOR by OC at a significant premium is likely to be viewed positively by DOOR shareholders, suggesting a potential short-term uptick in DOOR's stock price.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 90