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Owens Corning (OC) Beats Stock Market Upswing: What Investors Need to Know
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Owens Corning (OC - Free Report) closed the most recent trading day at $147.59, moving +1.04% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.48%. Elsewhere, the Dow saw an upswing of 0.27%, while the tech-heavy Nasdaq appreciated by 0.94%.
The construction materials company's shares have seen a decrease of 1.74% over the last month, not keeping up with the Construction sector's loss of 0.35% and the S&P 500's gain of 2.46%.
Market participants will be closely following the financial results of Owens Corning in its upcoming release. In that report, analysts expect Owens Corning to post earnings of $3.82 per share. This would mark a year-over-year decline of 12.79%. Meanwhile, the latest consensus estimate predicts the revenue to be $2.72 billion, indicating a 10.59% decrease compared to the same quarter of the previous year.
OC's full-year Zacks Consensus Estimates are calling for earnings of $13.84 per share and revenue of $10.48 billion. These results would represent year-over-year changes of -13.01% and -4.54%, respectively.
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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Owens Corning is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Owens Corning is at present trading with a Forward P/E ratio of 10.55. This expresses a discount compared to the average Forward P/E of 19.29 of its industry.
We can additionally observe that OC currently boasts a PEG ratio of 10.34. 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 1.87 as of yesterday's close.
The Building Products - Miscellaneous industry is part of the Construction sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 41% 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.
To follow OC in the coming trading sessions, be sure to utilize Zacks.com.
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Owens Corning (OC) Beats Stock Market Upswing: What Investors Need to Know
Owens Corning (OC - Free Report) closed the most recent trading day at $147.59, moving +1.04% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.48%. Elsewhere, the Dow saw an upswing of 0.27%, while the tech-heavy Nasdaq appreciated by 0.94%.
The construction materials company's shares have seen a decrease of 1.74% over the last month, not keeping up with the Construction sector's loss of 0.35% and the S&P 500's gain of 2.46%.
Market participants will be closely following the financial results of Owens Corning in its upcoming release. In that report, analysts expect Owens Corning to post earnings of $3.82 per share. This would mark a year-over-year decline of 12.79%. Meanwhile, the latest consensus estimate predicts the revenue to be $2.72 billion, indicating a 10.59% decrease compared to the same quarter of the previous year.
OC's full-year Zacks Consensus Estimates are calling for earnings of $13.84 per share and revenue of $10.48 billion. These results would represent year-over-year changes of -13.01% and -4.54%, respectively.
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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Owens Corning is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Owens Corning is at present trading with a Forward P/E ratio of 10.55. This expresses a discount compared to the average Forward P/E of 19.29 of its industry.
We can additionally observe that OC currently boasts a PEG ratio of 10.34. 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 1.87 as of yesterday's close.
The Building Products - Miscellaneous industry is part of the Construction sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 41% 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.
To follow OC in the coming trading sessions, be sure to utilize Zacks.com.