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Owens Corning (OC) Advances While Market Declines: Some Information for Investors
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In the latest trading session, Owens Corning (OC - Free Report) closed at $162.37, marking a +1.79% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.19%. Meanwhile, the Dow gained 0.1%, and the Nasdaq, a tech-heavy index, lost 0.54%.
Prior to today's trading, shares of the construction materials company had gained 8.48% over the past month. This has outpaced the Construction sector's gain of 6.64% and the S&P 500's gain of 3.18% in that time.
The investment community will be paying close attention to the earnings performance of Owens Corning in its upcoming release. The company is forecasted to report an EPS of $3.03, showcasing a 9.39% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $2.27 billion, indicating a 2.83% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $14.08 per share and a revenue of $9.62 billion, representing changes of -2.36% and -0.61%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Owens Corning. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.93% upward. Owens Corning currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Owens Corning is presently being traded at a Forward P/E ratio of 11.33. This expresses a discount compared to the average Forward P/E of 18.92 of its industry.
We can also see that OC currently has a PEG ratio of 0.43. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. OC's industry had an average PEG ratio of 1.82 as of yesterday's close.
The Building Products - Miscellaneous industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 13, placing it within the top 6% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Owens Corning (OC) Advances While Market Declines: Some Information for Investors
In the latest trading session, Owens Corning (OC - Free Report) closed at $162.37, marking a +1.79% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.19%. Meanwhile, the Dow gained 0.1%, and the Nasdaq, a tech-heavy index, lost 0.54%.
Prior to today's trading, shares of the construction materials company had gained 8.48% over the past month. This has outpaced the Construction sector's gain of 6.64% and the S&P 500's gain of 3.18% in that time.
The investment community will be paying close attention to the earnings performance of Owens Corning in its upcoming release. The company is forecasted to report an EPS of $3.03, showcasing a 9.39% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $2.27 billion, indicating a 2.83% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $14.08 per share and a revenue of $9.62 billion, representing changes of -2.36% and -0.61%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Owens Corning. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.93% upward. Owens Corning currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Owens Corning is presently being traded at a Forward P/E ratio of 11.33. This expresses a discount compared to the average Forward P/E of 18.92 of its industry.
We can also see that OC currently has a PEG ratio of 0.43. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. OC's industry had an average PEG ratio of 1.82 as of yesterday's close.
The Building Products - Miscellaneous industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 13, placing it within the top 6% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.