We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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.
Owens Corning (OC) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
Owens Corning (OC - Free Report) closed at $190.82 in the latest trading session, marking a +1.92% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.53% for the day. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.25%.
Prior to today's trading, shares of the construction materials company had gained 9.93% over the past month. This has outpaced the Construction sector's loss of 0.13% and the S&P 500's gain of 1.24% in that time.
Investors will be eagerly watching for the performance of Owens Corning in its upcoming earnings disclosure. The company is forecasted to report an EPS of $2.87, showcasing a 10.59% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $2.78 billion, reflecting a 20.53% rise from the equivalent quarter last year.
Investors should also take note of any recent adjustments 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 0.59% higher within the past month. Owens Corning is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Owens Corning currently has a Forward P/E ratio of 11.81. This denotes a discount relative to the industry's average Forward P/E of 17.86.
It's also important to note that OC currently trades at a PEG ratio of 2.04. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Building Products - Miscellaneous industry held an average PEG ratio of 1.92.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 36% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Owens Corning (OC) Outpaces Stock Market Gains: What You Should Know
Owens Corning (OC - Free Report) closed at $190.82 in the latest trading session, marking a +1.92% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.53% for the day. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.25%.
Prior to today's trading, shares of the construction materials company had gained 9.93% over the past month. This has outpaced the Construction sector's loss of 0.13% and the S&P 500's gain of 1.24% in that time.
Investors will be eagerly watching for the performance of Owens Corning in its upcoming earnings disclosure. The company is forecasted to report an EPS of $2.87, showcasing a 10.59% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $2.78 billion, reflecting a 20.53% rise from the equivalent quarter last year.
Investors should also take note of any recent adjustments 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 0.59% higher within the past month. Owens Corning is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Owens Corning currently has a Forward P/E ratio of 11.81. This denotes a discount relative to the industry's average Forward P/E of 17.86.
It's also important to note that OC currently trades at a PEG ratio of 2.04. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Building Products - Miscellaneous industry held an average PEG ratio of 1.92.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 36% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.