4. Owens Corning is a manufacturer of glass fiber reinforcements and building materials for residential and commercial use.
During the second quarter of 2011, net sales grew 5.3% to $1.45 billion from $1.37 billion in the second quarter of 2010. Earnings before taxes were $107 million compared with $94 million in the second quarter of 2010.
Commenting on the financials, Mike Thaman, Owens Corningâ¿¿s CEO, said, "Given the performance of our portfolio, we have increased our 2011 estimate for EBIT to $500 million or more. This translates into adjusted earnings per share growth of more than 40% vs. 2010.â¿On average, analysts expect the stock to rise to $44.80 in the next 12 months, 55% greater than current levels. Fifty-seven percent of analysts have buy ratings on the stock, which is trading with a P/E of 10, based on 2012 earnings estimates.
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