Norbord (TSE:OSB) Given New C$40.00 Price Target at Raymond James

Norbord (TSE:OSB) had its price target trimmed by Raymond James from C$41.00 to C$40.00 in a report published on Friday, BayStreet.CA reports. The firm currently has an outperform rating on the stock. Raymond James also issued estimates for Norbord’s Q4 2019 earnings at $1.53 EPS and FY2019 earnings at $1.95 EPS.

Several other analysts have also recently issued reports on OSB. BMO Capital Markets reiterated an outperform rating and issued a C$28.00 price objective on shares of Norbord in a research note on Monday, June 17th. Royal Bank of Canada reduced their price objective on Norbord from C$42.00 to C$40.00 in a research note on Tuesday, July 9th. Finally, CIBC increased their price objective on Norbord from C$31.00 to C$35.00 in a research note on Friday, July 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Norbord currently has an average rating of Buy and a consensus target price of C$35.75.

TSE:OSB traded down C$0.53 during trading hours on Friday, reaching C$29.31. 358,000 shares of the stock were exchanged, compared to its average volume of 324,523. The company has a debt-to-equity ratio of 80.32, a current ratio of 1.80 and a quick ratio of 0.82. The stock has a 50-day simple moving average of C$31.43. Norbord has a twelve month low of C$26.31 and a twelve month high of C$57.29. The stock has a market cap of $2.39 billion and a P/E ratio of 9.07.

Norbord (TSE:OSB) last released its quarterly earnings results on Thursday, May 2nd. The company reported C($0.03) EPS for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.07). The business had revenue of C$632.87 million during the quarter, compared to the consensus estimate of C$621.00 million. As a group, analysts forecast that Norbord will post 2.03 earnings per share for the current fiscal year.

About Norbord

Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial manufacturers 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.

Further Reading: Earnings Per Share

Analyst Recommendations for Norbord (TSE:OSB)

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