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Owens Corning (OC) Dips More Than Broader Market: What You Should Know
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Owens Corning (OC - Free Report) ended the recent trading session at $137.72, demonstrating a -1.47% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.27%.
Heading into today, shares of the construction materials company had lost 1.98% lagging the Construction sector's gain of 3.59% and the S&P 500's gain of 6.9%.
Analysts and investors alike will be keeping a close eye on the performance of Owens Corning in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $3.8, reflecting a 18.1% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.7 billion, indicating a 3.03% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.24 per share and revenue of $10.38 billion, which would represent changes of -16.78% and -5.46%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Owens Corning. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.74% downward. Right now, Owens Corning possesses a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Owens Corning has a Forward P/E ratio of 10.55 right now. This denotes a discount relative to the industry average Forward P/E of 16.4.
We can also see that OC currently has a PEG ratio of 3.69. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Building Products - Miscellaneous industry had an average PEG ratio of 1.75.
The Building Products - Miscellaneous industry is part of the Construction sector. With its current Zacks Industry Rank of 69, this industry ranks in the top 29% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Owens Corning (OC) Dips More Than Broader Market: What You Should Know
Owens Corning (OC - Free Report) ended the recent trading session at $137.72, demonstrating a -1.47% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.27%.
Heading into today, shares of the construction materials company had lost 1.98% lagging the Construction sector's gain of 3.59% and the S&P 500's gain of 6.9%.
Analysts and investors alike will be keeping a close eye on the performance of Owens Corning in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $3.8, reflecting a 18.1% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.7 billion, indicating a 3.03% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.24 per share and revenue of $10.38 billion, which would represent changes of -16.78% and -5.46%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Owens Corning. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.74% downward. Right now, Owens Corning possesses a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Owens Corning has a Forward P/E ratio of 10.55 right now. This denotes a discount relative to the industry average Forward P/E of 16.4.
We can also see that OC currently has a PEG ratio of 3.69. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Building Products - Miscellaneous industry had an average PEG ratio of 1.75.
The Building Products - Miscellaneous industry is part of the Construction sector. With its current Zacks Industry Rank of 69, this industry ranks in the top 29% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.