BMO Capital Markets set a $28.00 price target on Norbord Inc. (NYSE:OSB) in a research note released on Friday, July 28th. The firm currently has a hold rating on the construction company’s stock.
OSB has been the subject of a number of other research reports. ValuEngine raised shares of Norbord from a buy rating to a strong-buy rating in a report on Friday, June 30th. Zacks Investment Research downgraded shares of Norbord from a strong-buy rating to a hold rating in a research note on Wednesday, July 12th. Finally, TD Securities reissued a buy rating and issued a $35.00 price objective on shares of Norbord in a research note on Wednesday, May 3rd. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $35.00.
Norbord (NYSE OSB) opened at 32.71 on Friday. Norbord has a one year low of $21.40 and a one year high of $35.65. The stock has a market cap of $2.82 billion, a P/E ratio of 10.76 and a beta of 3.95. The company’s 50-day moving average price is $32.65 and its 200-day moving average price is $29.87.
Norbord (NYSE:OSB) last announced its quarterly earnings results on Friday, July 28th. The construction company reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by $0.01. Norbord had a net margin of 13.52% and a return on equity of 37.87%. The business had revenue of $536 million during the quarter. Analysts forecast that Norbord will post $3.74 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Friday, September 1st will be paid a $0.398 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $1.59 annualized dividend and a yield of 4.87%. This is an increase from Norbord’s previous quarterly dividend of $0.22. Norbord’s dividend payout ratio (DPR) is presently 28.95%.
A number of hedge funds have recently made changes to their positions in OSB. Russell Investments Group Ltd. purchased a new stake in shares of Norbord during the fourth quarter valued at about $147,000. Legal & General Group Plc increased its stake in shares of Norbord by 4.2% in the second quarter. Legal & General Group Plc now owns 4,889 shares of the construction company’s stock valued at $152,000 after buying an additional 198 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Norbord during the first quarter worth approximately $204,000. Parametric Portfolio Associates LLC bought a new position in shares of Norbord during the second quarter worth approximately $205,000. Finally, Comerica Bank bought a new position in shares of Norbord during the second quarter worth approximately $233,000. 28.51% of the stock is owned by institutional investors and hedge funds.
Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial customers primarily in North America and Europe. The company offers oriented strand boards for use in sheathing, flooring, and roofing in home construction applications; particleboards that are used in flooring and other construction applications; and medium density fiberboards for use in cabinet doors, mouldings, and interior wall paneling applications, as well as related value-added products for use in the construction of new homes, and renovation and repair of existing structures.
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