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Owens Corning (OC) Stock Slides as Market Rises: Facts to Know Before You Trade
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In the latest trading session, Owens Corning (OC - Free Report) closed at $105.84, marking a -1.32% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.11% for the day. Meanwhile, the Dow experienced a drop of 0.13%, and the technology-dominated Nasdaq saw an increase of 0.18%.
The construction materials company's shares have seen a decrease of 8.21% over the last month, surpassing the Construction sector's loss of 9.15% and falling behind the S&P 500's loss of 4.28%.
The upcoming earnings release of Owens Corning will be of great interest to investors. In that report, analysts expect Owens Corning to post earnings of $1.21 per share. This would mark a year-over-year decline of 59.26%. At the same time, our most recent consensus estimate is projecting a revenue of $2.13 billion, reflecting a 15.64% fall from the equivalent quarter last 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 should also take note of any recent adjustments to analyst estimates for Owens Corning. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 3.12% lower within the past month. As of now, Owens Corning holds a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Owens Corning currently has a Forward P/E ratio of 10.72. This signifies a discount in comparison to the average Forward P/E of 17.11 for its industry.
Investors should also note that OC has a PEG ratio of 1.74 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. OC's industry had an average PEG ratio of 1.26 as of yesterday's close.
The Building Products - Miscellaneous industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 164, positioning it in the bottom 33% 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.
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) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest trading session, Owens Corning (OC - Free Report) closed at $105.84, marking a -1.32% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.11% for the day. Meanwhile, the Dow experienced a drop of 0.13%, and the technology-dominated Nasdaq saw an increase of 0.18%.
The construction materials company's shares have seen a decrease of 8.21% over the last month, surpassing the Construction sector's loss of 9.15% and falling behind the S&P 500's loss of 4.28%.
The upcoming earnings release of Owens Corning will be of great interest to investors. In that report, analysts expect Owens Corning to post earnings of $1.21 per share. This would mark a year-over-year decline of 59.26%. At the same time, our most recent consensus estimate is projecting a revenue of $2.13 billion, reflecting a 15.64% fall from the equivalent quarter last 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 should also take note of any recent adjustments to analyst estimates for Owens Corning. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 3.12% lower within the past month. As of now, Owens Corning holds a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Owens Corning currently has a Forward P/E ratio of 10.72. This signifies a discount in comparison to the average Forward P/E of 17.11 for its industry.
Investors should also note that OC has a PEG ratio of 1.74 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. OC's industry had an average PEG ratio of 1.26 as of yesterday's close.
The Building Products - Miscellaneous industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 164, positioning it in the bottom 33% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.