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Can Owens Corning (OC) Keep the Earnings Streak Alive This Quarter?
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Looking for a stock that might be in a good position to beat earnings at its next report? Consider Owens Corning (OC - Free Report) , a firm in the Building and Construction industry, which could be a great candidate for another beat.
This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, OC has beaten estimates by at least 30% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, OC expected to post earnings of 44 cents per share, while it actually produced earnings of 66 cents per share, a beat of 50%. Meanwhile, for the most recent quarter, the company looked to deliver earnings of 33 cents per share, while it actually produced earnings of 53 cents per share instead, a beat of 60.6%.
Thanks in part to this history, recent estimates have been moving higher for Owens Corning. In fact, the Earnings ESP for OC is positive, which is a great sign of a coming beat.
After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for OC, as the firm currently has a Zacks Earnings ESP of 9.41%, so another beat could be around the corner.
This is particularly true when you consider that OC has a great Zacks Rank #1 (Strong Buy) which can be a harbinger of outperformance and a signal for a strong earnings profile. And when you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that OC could see another beat at its next report, especially if recent trends are any guide.
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Can Owens Corning (OC) Keep the Earnings Streak Alive This Quarter?
Looking for a stock that might be in a good position to beat earnings at its next report? Consider Owens Corning (OC - Free Report) , a firm in the Building and Construction industry, which could be a great candidate for another beat.
This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, OC has beaten estimates by at least 30% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, OC expected to post earnings of 44 cents per share, while it actually produced earnings of 66 cents per share, a beat of 50%. Meanwhile, for the most recent quarter, the company looked to deliver earnings of 33 cents per share, while it actually produced earnings of 53 cents per share instead, a beat of 60.6%.
OWENS CORNING Price and EPS Surprise
OWENS CORNING Price and EPS Surprise | OWENS CORNING Quote
Thanks in part to this history, recent estimates have been moving higher for Owens Corning. In fact, the Earnings ESP for OC is positive, which is a great sign of a coming beat.
After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for OC, as the firm currently has a Zacks Earnings ESP of 9.41%, so another beat could be around the corner.
This is particularly true when you consider that OC has a great Zacks Rank #1 (Strong Buy) which can be a harbinger of outperformance and a signal for a strong earnings profile. And when you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that OC could see another beat at its next report, especially if recent trends are any guide.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>