Royal Bank of Canada Trims Norbord (TSE:OSB) Target Price to C$40.00

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Norbord (TSE:OSB) had its price objective cut by Royal Bank of Canada from C$42.00 to C$40.00 in a research note issued to investors on Tuesday, BayStreet.CA reports.

OSB has been the topic of several other research reports. BMO Capital Markets upgraded shares of Bank of America from a market perform rating to an outperform rating and set a $37.00 price objective on the stock in a report on Monday, June 17th. CIBC upped their price objective on shares of Norbord from C$31.00 to C$35.00 in a report on Friday, July 5th. Finally, Raymond James restated a hold rating on shares of Broadcom in a report on Friday, June 14th. One investment 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 price target of C$37.00.

OSB opened at C$31.00 on Tuesday. Norbord has a 52-week low of C$26.31 and a 52-week high of C$57.29. The company has a current ratio of 1.80, a quick ratio of 0.82 and a debt-to-equity ratio of 80.32. The firm has a market capitalization of $2.84 billion and a P/E ratio of 9.59. The firm’s 50-day moving average is C$29.99.

Norbord (TSE:OSB) last posted its quarterly earnings data on Thursday, May 2nd. The company reported C($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.04 by C($0.07). The firm had revenue of C$632.87 million for the quarter, compared to analysts’ expectations of C$621.00 million. On average, research analysts expect that Norbord will post 2.1599999 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Saturday, June 1st were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 5.16%. Norbord’s dividend payout ratio (DPR) is currently 145.04%.

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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