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Owens Corning (OC) Gains As Market Dips: What You Should Know
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In the latest trading session, Owens Corning (OC - Free Report) closed at $143.91, marking a +1.2% move from the previous day. This move outpaced the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.48%, and the tech-heavy Nasdaq gained 0.11%.
Coming into today, shares of the construction materials company had gained 0.21% in the past month. In that same time, the Construction sector lost 1.62%, while the S&P 500 lost 1.25%.
Wall Street will be looking for positivity from Owens Corning as it approaches its next earnings report date. In that report, analysts expect Owens Corning to post earnings of $3.78 per share. This would mark year-over-year growth of 5.88%. Meanwhile, our latest consensus estimate is calling for revenue of $2.52 billion, down 0.27% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.59 per share and revenue of $9.67 billion, which would represent changes of +5.51% and -0.92%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Owens Corning. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.44% higher within the past month. Owens Corning currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Owens Corning has a Forward P/E ratio of 10.46 right now. For comparison, its industry has an average Forward P/E of 17.57, which means Owens Corning is trading at a discount to the group.
Investors should also note that OC has a PEG ratio of 1.33 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Building Products - Miscellaneous stocks are, on average, holding a PEG ratio of 1.7 based on yesterday's closing prices.
The Building Products - Miscellaneous industry is part of the Construction sector. This group has a Zacks Industry Rank of 28, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Owens Corning (OC) Gains As Market Dips: What You Should Know
In the latest trading session, Owens Corning (OC - Free Report) closed at $143.91, marking a +1.2% move from the previous day. This move outpaced the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.48%, and the tech-heavy Nasdaq gained 0.11%.
Coming into today, shares of the construction materials company had gained 0.21% in the past month. In that same time, the Construction sector lost 1.62%, while the S&P 500 lost 1.25%.
Wall Street will be looking for positivity from Owens Corning as it approaches its next earnings report date. In that report, analysts expect Owens Corning to post earnings of $3.78 per share. This would mark year-over-year growth of 5.88%. Meanwhile, our latest consensus estimate is calling for revenue of $2.52 billion, down 0.27% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.59 per share and revenue of $9.67 billion, which would represent changes of +5.51% and -0.92%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Owens Corning. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.44% higher within the past month. Owens Corning currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Owens Corning has a Forward P/E ratio of 10.46 right now. For comparison, its industry has an average Forward P/E of 17.57, which means Owens Corning is trading at a discount to the group.
Investors should also note that OC has a PEG ratio of 1.33 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Building Products - Miscellaneous stocks are, on average, holding a PEG ratio of 1.7 based on yesterday's closing prices.
The Building Products - Miscellaneous industry is part of the Construction sector. This group has a Zacks Industry Rank of 28, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.