We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Countdown to Owens Corning (OC) Q1 Earnings: Wall Street Forecasts for Key Metrics
Read MoreHide Full Article
In its upcoming report, Owens Corning (OC - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $2.98 per share, reflecting an increase of 7.6% compared to the same period last year. Revenues are forecasted to be $2.26 billion, representing a year-over-year decrease of 3%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 5.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Owens Corning metrics that are routinely monitored and predicted by Wall Street analysts.
The combined assessment of analysts suggests that 'Net Sales- Insulation' will likely reach $914.41 million. The estimate points to a change of -0.5% from the year-ago quarter.
According to the collective judgment of analysts, 'Net Sales- Composites' should come in at $503.05 million. The estimate indicates a year-over-year change of -14%.
Based on the collective assessment of analysts, 'Net Sales- Roofing' should arrive at $912.95 million. The estimate indicates a year-over-year change of +2%.
The collective assessment of analysts points to an estimated 'EBIT- Composites' of $24.08 million. The estimate is in contrast to the year-ago figure of $49 million.
The consensus estimate for 'EBIT- Roofing' stands at $263.94 million. The estimate is in contrast to the year-ago figure of $209 million.
The average prediction of analysts places 'EBIT- Insulation' at $143.56 million. Compared to the present estimate, the company reported $156 million in the same quarter last year.
Over the past month, shares of Owens Corning have returned -3.5% versus the Zacks S&P 500 composite's -4% change. Currently, OC carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Countdown to Owens Corning (OC) Q1 Earnings: Wall Street Forecasts for Key Metrics
In its upcoming report, Owens Corning (OC - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $2.98 per share, reflecting an increase of 7.6% compared to the same period last year. Revenues are forecasted to be $2.26 billion, representing a year-over-year decrease of 3%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 5.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Owens Corning metrics that are routinely monitored and predicted by Wall Street analysts.
The combined assessment of analysts suggests that 'Net Sales- Insulation' will likely reach $914.41 million. The estimate points to a change of -0.5% from the year-ago quarter.
According to the collective judgment of analysts, 'Net Sales- Composites' should come in at $503.05 million. The estimate indicates a year-over-year change of -14%.
Based on the collective assessment of analysts, 'Net Sales- Roofing' should arrive at $912.95 million. The estimate indicates a year-over-year change of +2%.
The collective assessment of analysts points to an estimated 'EBIT- Composites' of $24.08 million. The estimate is in contrast to the year-ago figure of $49 million.
The consensus estimate for 'EBIT- Roofing' stands at $263.94 million. The estimate is in contrast to the year-ago figure of $209 million.
The average prediction of analysts places 'EBIT- Insulation' at $143.56 million. Compared to the present estimate, the company reported $156 million in the same quarter last year.
View all Key Company Metrics for Owens Corning here>>>
Over the past month, shares of Owens Corning have returned -3.5% versus the Zacks S&P 500 composite's -4% change. Currently, OC carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>