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Ahead of Owens Corning (OC) Q3 Earnings: Get Ready With Wall Street Estimates for Key Metrics
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Wall Street analysts expect Owens Corning (OC - Free Report) to post quarterly earnings of $3.64 per share in its upcoming report, which indicates a year-over-year decline of 16.9%. Revenues are expected to be $2.69 billion, down 11.6% from the year-ago quarter.
Over the last 30 days, there has been a downward revision of 7.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Owens Corning metrics that Wall Street analysts commonly model and monitor.
According to the collective judgment of analysts, 'Net Sales- Insulation' should come in at $936.09 million. The estimate points to a change of -1.1% from the year-ago quarter.
Analysts predict that the 'Net Sales- Doors' will reach $541.68 million. The estimate indicates a year-over-year change of -5.5%.
The average prediction of analysts places 'Net Sales- Roofing' at $1.28 billion. The estimate suggests a change of +18.9% year over year.
Shares of Owens Corning have demonstrated returns of -8.2% over the past month compared to the Zacks S&P 500 composite's +2.4% change. With a Zacks Rank #5 (Strong Sell), OC is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Ahead of Owens Corning (OC) Q3 Earnings: Get Ready With Wall Street Estimates for Key Metrics
Wall Street analysts expect Owens Corning (OC - Free Report) to post quarterly earnings of $3.64 per share in its upcoming report, which indicates a year-over-year decline of 16.9%. Revenues are expected to be $2.69 billion, down 11.6% from the year-ago quarter.
Over the last 30 days, there has been a downward revision of 7.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Owens Corning metrics that Wall Street analysts commonly model and monitor.
According to the collective judgment of analysts, 'Net Sales- Insulation' should come in at $936.09 million. The estimate points to a change of -1.1% from the year-ago quarter.
Analysts predict that the 'Net Sales- Doors' will reach $541.68 million. The estimate indicates a year-over-year change of -5.5%.
The average prediction of analysts places 'Net Sales- Roofing' at $1.28 billion. The estimate suggests a change of +18.9% year over year.
View all Key Company Metrics for Owens Corning here>>>Shares of Owens Corning have demonstrated returns of -8.2% over the past month compared to the Zacks S&P 500 composite's +2.4% change. With a Zacks Rank #5 (Strong Sell), OC is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .