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Owens Corning (OC) Declines More Than Market: Some Information for Investors
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In the latest close session, Owens Corning (OC - Free Report) was down 2.75% at $124.62. This change lagged the S&P 500's daily loss of 0.37%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, lost 1.33%.
The stock of construction materials company has risen by 9.13% in the past month, lagging the Construction sector's gain of 10.2% and overreaching the S&P 500's gain of 2.02%.
The upcoming earnings release of Owens Corning will be of great interest to investors. The company's earnings per share (EPS) are projected to be $3.02, reflecting a 28.27% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $2.66 billion, reflecting a 3.26% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.53 per share and revenue of $9.83 billion, which would represent changes of -20.91% and -2.67%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Owens Corning. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Owens Corning possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Owens Corning is at present trading with a Forward P/E ratio of 13.45. This indicates a discount in contrast to its industry's Forward P/E of 18.8.
We can additionally observe that OC currently boasts a PEG ratio of 2.32. 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. As the market closed yesterday, the Building Products - Miscellaneous industry was having an average PEG ratio of 1.6.
The Building Products - Miscellaneous industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 200, positioning it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Owens Corning (OC) Declines More Than Market: Some Information for Investors
In the latest close session, Owens Corning (OC - Free Report) was down 2.75% at $124.62. This change lagged the S&P 500's daily loss of 0.37%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, lost 1.33%.
The stock of construction materials company has risen by 9.13% in the past month, lagging the Construction sector's gain of 10.2% and overreaching the S&P 500's gain of 2.02%.
The upcoming earnings release of Owens Corning will be of great interest to investors. The company's earnings per share (EPS) are projected to be $3.02, reflecting a 28.27% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $2.66 billion, reflecting a 3.26% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.53 per share and revenue of $9.83 billion, which would represent changes of -20.91% and -2.67%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Owens Corning. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Owens Corning possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Owens Corning is at present trading with a Forward P/E ratio of 13.45. This indicates a discount in contrast to its industry's Forward P/E of 18.8.
We can additionally observe that OC currently boasts a PEG ratio of 2.32. 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. As the market closed yesterday, the Building Products - Miscellaneous industry was having an average PEG ratio of 1.6.
The Building Products - Miscellaneous industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 200, positioning it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.