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Owens Corning (OC) Outpaces Stock Market Gains: What You Should Know
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Owens Corning (OC - Free Report) closed at $143.12 in the latest trading session, marking a +2.25% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.65%, and the Nasdaq, a tech-heavy index, added 0.44%.
Shares of the construction materials company have depreciated by 8.16% over the course of the past month, underperforming the Construction sector's loss of 2.49%, and the S&P 500's gain of 2.72%.
Analysts and investors alike will be keeping a close eye on the performance of Owens Corning in its upcoming earnings disclosure. The company's upcoming EPS is projected at $3.82, signifying a 12.79% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.72 billion, indicating a 10.59% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $13.84 per share and a revenue of $10.48 billion, signifying shifts of -13.01% and -4.54%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Owens Corning. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Owens Corning presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Owens Corning is currently being traded at a Forward P/E ratio of 10.11. This expresses a discount compared to the average Forward P/E of 18.64 of its industry.
One should further note that OC currently holds a PEG ratio of 9.91. 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. The Building Products - Miscellaneous industry currently had an average PEG ratio of 1.81 as of yesterday's close.
The Building Products - Miscellaneous industry is part of the Construction sector. This group has a Zacks Industry Rank of 99, putting it in the top 41% of all 250+ industries.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Owens Corning (OC) Outpaces Stock Market Gains: What You Should Know
Owens Corning (OC - Free Report) closed at $143.12 in the latest trading session, marking a +2.25% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.65%, and the Nasdaq, a tech-heavy index, added 0.44%.
Shares of the construction materials company have depreciated by 8.16% over the course of the past month, underperforming the Construction sector's loss of 2.49%, and the S&P 500's gain of 2.72%.
Analysts and investors alike will be keeping a close eye on the performance of Owens Corning in its upcoming earnings disclosure. The company's upcoming EPS is projected at $3.82, signifying a 12.79% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.72 billion, indicating a 10.59% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $13.84 per share and a revenue of $10.48 billion, signifying shifts of -13.01% and -4.54%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Owens Corning. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Owens Corning presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Owens Corning is currently being traded at a Forward P/E ratio of 10.11. This expresses a discount compared to the average Forward P/E of 18.64 of its industry.
One should further note that OC currently holds a PEG ratio of 9.91. 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. The Building Products - Miscellaneous industry currently had an average PEG ratio of 1.81 as of yesterday's close.
The Building Products - Miscellaneous industry is part of the Construction sector. This group has a Zacks Industry Rank of 99, putting it in the top 41% of all 250+ industries.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.