Norbord (TSE:OSB) Rating Lowered to Outperform at Royal Bank of Canada

Royal Bank of Canada lowered shares of Norbord (TSE:OSB) from a top pick rating to an outperform rating in a research note published on Monday, February 4th. They currently have C$45.00 target price on the stock.

OSB has been the subject of a number of other research reports. CIBC downgraded shares of Norbord from a neutral rating to an underperform rating and cut their price target for the stock from C$40.00 to C$29.00 in a report on Monday, January 14th. Raymond James downgraded shares of Norbord from a strong-buy rating to an outperform rating and cut their price target for the stock from C$60.00 to C$51.00 in a report on Tuesday, January 22nd. Finally, Seaport Global Securities reaffirmed a buy rating on shares of Norbord in a report on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Norbord has an average rating of Buy and an average target price of C$45.38.

TSE OSB traded up C$0.51 during trading on Monday, reaching C$34.51. The company’s stock had a trading volume of 256,300 shares, compared to its average volume of 358,305. The company has a quick ratio of 0.76, a current ratio of 1.40 and a debt-to-equity ratio of 66.83. The company has a market capitalization of $2.99 billion and a P/E ratio of 8.08. Norbord has a 12 month low of C$31.87 and a 12 month high of C$58.92.

Norbord (TSE:OSB) last posted its quarterly earnings data on Friday, February 1st. The company reported C$0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.37 by C$0.03. The business had revenue of C$662.21 million during the quarter, compared to the consensus estimate of C$684.35 million. Equities analysts expect that Norbord will post 2.80999976583335 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Friday, March 1st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend is Thursday, February 28th. Norbord’s dividend payout ratio is 113.62%.

Norbord Company Profile

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.

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Analyst Recommendations for Norbord (TSE:OSB)

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