Jefferies Group Analysts Raise Earnings Estimates for USG Corporation (USG)
USG Corporation (NYSE:USG) – Research analysts at Jefferies Group boosted their FY2017 earnings per share estimates for USG Corporation in a report issued on Thursday. Jefferies Group analyst P. Ng now anticipates that the construction company will post earnings per share of $1.66 for the year, up from their prior estimate of $1.65. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for USG Corporation’s Q1 2018 earnings at $0.46 EPS, Q2 2018 earnings at $0.57 EPS, Q3 2018 earnings at $0.64 EPS, Q4 2018 earnings at $0.51 EPS, FY2018 earnings at $2.19 EPS and FY2019 earnings at $2.49 EPS.
USG Corporation (NYSE:USG) last posted its quarterly earnings data on Thursday, October 26th. The construction company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. USG Corporation had a return on equity of 12.90% and a net margin of 14.93%. The company had revenue of $795.00 million for the quarter, compared to the consensus estimate of $790.54 million. During the same period in the previous year, the business earned $0.46 EPS. USG Corporation’s revenue for the quarter was up 3.7% compared to the same quarter last year.
Several other brokerages also recently weighed in on USG. Stifel Nicolaus restated a “hold” rating and set a $33.00 target price on shares of USG Corporation in a research note on Thursday, October 26th. Citigroup Inc. increased their target price on USG Corporation from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Barclays PLC upped their price target on USG Corporation from $26.00 to $31.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. Bank of America Corporation cut USG Corporation from a “neutral” rating to an “underperform” rating in a report on Friday, October 27th. Finally, Zacks Investment Research raised USG Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.64.
Shares of USG Corporation (NYSE:USG) opened at 34.33 on Monday. USG Corporation has a 12-month low of $23.71 and a 12-month high of $34.80. The stock has a market capitalization of $4.92 billion, a P/E ratio of 11.01 and a beta of 1.00. The firm’s 50-day moving average price is $32.37 and its 200 day moving average price is $29.80.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in USG Corporation by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 6,836,595 shares of the construction company’s stock valued at $217,404,000 after purchasing an additional 76,843 shares in the last quarter. BlackRock Inc. boosted its position in USG Corporation by 14,864.0% in the 1st quarter. BlackRock Inc. now owns 4,036,547 shares of the construction company’s stock valued at $128,363,000 after buying an additional 4,009,572 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in USG Corporation by 9.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,957,572 shares of the construction company’s stock valued at $62,251,000 after buying an additional 167,321 shares during the last quarter. LSV Asset Management boosted its position in USG Corporation by 5.5% in the 2nd quarter. LSV Asset Management now owns 757,318 shares of the construction company’s stock valued at $21,977,000 after buying an additional 39,500 shares during the last quarter. Finally, Janus Capital Management LLC boosted its position in USG Corporation by 1,445.9% in the 1st quarter. Janus Capital Management LLC now owns 724,146 shares of the construction company’s stock valued at $23,028,000 after buying an additional 677,304 shares during the last quarter. 85.80% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Dominic A. Dannessa sold 5,000 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $32.41, for a total transaction of $162,050.00. Following the completion of the sale, the insider now directly owns 61,713 shares of the company’s stock, valued at approximately $2,000,118.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.67% of the company’s stock.
About USG Corporation
USG Corporation, through its subsidiaries, is a manufacturer and distributor of building materials. The Company’s segments include Gypsum, Ceilings and USG Boral Building Products (UBBP). It produces a range of products for use in new residential, new nonresidential, and residential and nonresidential repair and remodel construction, as well as products used in certain industrial processes.
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