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Owens Corning (OC) Suffers a Larger Drop Than the General Market: Key Insights
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Owens Corning (OC - Free Report) closed the most recent trading day at $104.56, moving -2.75% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 1.67%. Meanwhile, the Dow experienced a drop of 1.73%, and the technology-dominated Nasdaq saw a decrease of 2.15%.
Coming into today, shares of the construction materials company had lost 12.07% in the past month. In that same time, the Construction sector lost 11.84%, while the S&P 500 lost 6.15%.
The investment community will be paying close attention to the earnings performance of Owens Corning in its upcoming release. On that day, Owens Corning is projected to report earnings of $1.21 per share, which would represent a year-over-year decline of 59.26%. Meanwhile, the latest consensus estimate predicts the revenue to be $2.13 billion, indicating a 15.64% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $10.01 per share and a revenue of $9.74 billion, demonstrating changes of -16.93% and -3.58%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Owens Corning. These revisions help to show the ever-changing nature of near-term business trends. 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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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 5.42% downward. Currently, Owens Corning is carrying a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Owens Corning is holding a Forward P/E ratio of 10.74. This indicates a discount in contrast to its industry's Forward P/E of 17.14.
Meanwhile, OC's PEG ratio is currently 1.74. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Building Products - Miscellaneous stocks are, on average, holding a PEG ratio of 1.27 based on yesterday's closing prices.
The Building Products - Miscellaneous industry is part of the Construction sector. With its current Zacks Industry Rank of 187, this industry ranks in the bottom 24% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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Owens Corning (OC) Suffers a Larger Drop Than the General Market: Key Insights
Owens Corning (OC - Free Report) closed the most recent trading day at $104.56, moving -2.75% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 1.67%. Meanwhile, the Dow experienced a drop of 1.73%, and the technology-dominated Nasdaq saw a decrease of 2.15%.
Coming into today, shares of the construction materials company had lost 12.07% in the past month. In that same time, the Construction sector lost 11.84%, while the S&P 500 lost 6.15%.
The investment community will be paying close attention to the earnings performance of Owens Corning in its upcoming release. On that day, Owens Corning is projected to report earnings of $1.21 per share, which would represent a year-over-year decline of 59.26%. Meanwhile, the latest consensus estimate predicts the revenue to be $2.13 billion, indicating a 15.64% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $10.01 per share and a revenue of $9.74 billion, demonstrating changes of -16.93% and -3.58%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Owens Corning. These revisions help to show the ever-changing nature of near-term business trends. 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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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 5.42% downward. Currently, Owens Corning is carrying a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Owens Corning is holding a Forward P/E ratio of 10.74. This indicates a discount in contrast to its industry's Forward P/E of 17.14.
Meanwhile, OC's PEG ratio is currently 1.74. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Building Products - Miscellaneous stocks are, on average, holding a PEG ratio of 1.27 based on yesterday's closing prices.
The Building Products - Miscellaneous industry is part of the Construction sector. With its current Zacks Industry Rank of 187, this industry ranks in the bottom 24% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.