BMO Capital Markets set a $28.00 price objective on Norbord Inc. (NYSE:OSB) in a research report released on Friday, July 28th. The brokerage currently has a hold rating on the construction company’s stock.
OSB has been the topic of several other research reports. ValuEngine raised shares of Norbord from a buy rating to a strong-buy rating in a research report on Friday, June 30th. Zacks Investment Research cut shares of Norbord from a strong-buy rating to a hold rating in a report on Wednesday, July 12th. Finally, TD Securities reaffirmed a buy rating and issued a $35.00 price target on shares of Norbord in a report on Wednesday, May 3rd. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $35.00.
Norbord (OSB) opened at 33.16 on Friday. The stock’s 50 day moving average price is $31.66 and its 200-day moving average price is $29.31. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 10.91 and a beta of 3.95. Norbord has a one year low of $21.40 and a one year high of $35.65.
Norbord (NYSE:OSB) last posted its earnings results on Friday, July 28th. The construction company reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by $0.01. Norbord had a return on equity of 37.87% and a net margin of 13.52%. The firm had revenue of $536 million for the quarter. Analysts forecast that Norbord will post $3.74 earnings per share for the current year.
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The firm also recently declared 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 of this dividend is Wednesday, August 30th. This is an increase from Norbord’s previous quarterly dividend of $0.22. This represents a $1.59 annualized dividend and a yield of 4.80%. Norbord’s payout ratio is currently 28.95%.
Institutional investors have recently modified their holdings of the stock. 1060 Capital LLC purchased a new position in shares of Norbord during the first quarter valued at approximately $711,000. Raymond James Financial Services Advisors Inc. bought a new position in Norbord during the first quarter worth about $204,000. Hillsdale Investment Management Inc. increased its position in Norbord by 65.1% in the first quarter. Hillsdale Investment Management Inc. now owns 546,000 shares of the construction company’s stock worth $15,512,000 after buying an additional 215,300 shares during the last quarter. State of Wisconsin Investment Board bought a new position in Norbord during the first quarter worth about $409,000. Finally, Swiss National Bank boosted its stake in shares of Norbord by 1.9% in the first quarter. Swiss National Bank now owns 70,828 shares of the construction company’s stock worth $2,016,000 after buying an additional 1,300 shares during the period. 28.52% of the stock is owned by hedge funds and other institutional investors.
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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