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Owens Corning (OC - Free Report) closed the most recent trading day at $123.40, moving +1.61% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 1.65%. Elsewhere, the Dow saw an upswing of 0.92%, while the tech-heavy Nasdaq appreciated by 3.07%.
Coming into today, shares of the construction materials company had gained 6.45% in the past month. In that same time, the Construction sector gained 0.75%, while the S&P 500 gained 0.48%.
Analysts and investors alike will be keeping a close eye on the performance of Owens Corning in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $3.02, marking a 28.27% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $2.66 billion, down 3.26% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.53 per share and revenue of $9.83 billion. These totals would mark changes of -20.91% and -2.67%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Owens Corning. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Owens Corning presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Owens Corning is presently being traded at a Forward P/E ratio of 12.75. This signifies a discount in comparison to the average Forward P/E of 18 for its industry.
Investors should also note that OC has a PEG ratio of 2.2 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Building Products - Miscellaneous was holding an average PEG ratio of 1.51 at yesterday's closing price.
The Building Products - Miscellaneous industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 182, placing it within the bottom 26% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the 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.
View the Zacks #1 Rank List
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Owens Corning (OC) Rises Yet Lags Behind Market: Some Facts Worth Knowing
Owens Corning (OC - Free Report) closed the most recent trading day at $123.40, moving +1.61% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 1.65%. Elsewhere, the Dow saw an upswing of 0.92%, while the tech-heavy Nasdaq appreciated by 3.07%.
Coming into today, shares of the construction materials company had gained 6.45% in the past month. In that same time, the Construction sector gained 0.75%, while the S&P 500 gained 0.48%.
Analysts and investors alike will be keeping a close eye on the performance of Owens Corning in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $3.02, marking a 28.27% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $2.66 billion, down 3.26% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.53 per share and revenue of $9.83 billion. These totals would mark changes of -20.91% and -2.67%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Owens Corning. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Owens Corning presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Owens Corning is presently being traded at a Forward P/E ratio of 12.75. This signifies a discount in comparison to the average Forward P/E of 18 for its industry.
Investors should also note that OC has a PEG ratio of 2.2 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Building Products - Miscellaneous was holding an average PEG ratio of 1.51 at yesterday's closing price.
The Building Products - Miscellaneous industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 182, placing it within the bottom 26% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the 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.