BMO Capital Markets lowered shares of Norbord Inc. (NYSE:OSB) from a market perform rating to an underperform rating in a research note released on Friday morning. They currently have $31.00 target price on the construction company’s stock. The analysts noted that the move was a valuation call.
A number of other equities analysts also recently issued reports on the stock. Scotiabank reiterated a buy rating and set a $44.25 price objective on shares of Norbord in a research note on Tuesday, August 29th. Zacks Investment Research downgraded shares of Norbord from a strong-buy rating to a hold rating in a research note on Wednesday, July 12th. Vertical Research downgraded shares of Norbord from a buy rating to a hold rating in a research note on Tuesday, August 29th. ValuEngine upgraded shares of Norbord from a buy rating to a strong-buy rating in a research note on Friday, June 30th. Finally, Credit Suisse Group upgraded shares of Norbord from a neutral rating to an outperform rating in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Norbord currently has an average rating of Buy and a consensus target price of $36.85.
Shares of Norbord (OSB) traded down 7.77% during mid-day trading on Friday, hitting $38.12. The stock had a trading volume of 224,859 shares. The company’s 50 day moving average is $37.97 and its 200-day moving average is $37.97. Norbord has a 52-week low of $21.40 and a 52-week high of $40.19. The stock has a market cap of $3.28 billion, a P/E ratio of 12.54 and a beta of 3.99.
Norbord (NYSE:OSB) last released its quarterly earnings data on Friday, July 28th. The construction company reported $1.10 earnings per share (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 $536.00 million for the quarter. On average, equities research analysts anticipate that Norbord will post $4.06 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Stockholders of record on Friday, September 1st were issued a $0.398 dividend. This is a boost from Norbord’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.59 annualized dividend and a dividend yield of 4.18%. Norbord’s dividend payout ratio is presently 52.30%.
Several institutional investors have recently modified their holdings of the company. Legal & General Group Plc boosted its holdings in shares of Norbord by 4.2% in the 2nd 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 in the last quarter. Renaissance Group LLC boosted its holdings in shares of Norbord by 6.0% in the 2nd quarter. Renaissance Group LLC now owns 15,345 shares of the construction company’s stock valued at $478,000 after buying an additional 862 shares in the last quarter. Brandes Investment Partners LP boosted its holdings in shares of Norbord by 2.2% in the 2nd quarter. Brandes Investment Partners LP now owns 58,841 shares of the construction company’s stock valued at $1,832,000 after buying an additional 1,249 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Norbord by 1.9% in the 1st quarter. Swiss National Bank now owns 70,828 shares of the construction company’s stock valued at $2,016,000 after buying an additional 1,300 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Norbord by 16.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 18,319 shares of the construction company’s stock valued at $570,000 after buying an additional 2,537 shares in the last quarter. Institutional investors and hedge funds own 80.86% of the company’s stock.
Norbord Company Profile
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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