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Owens Corning (OC) Stock Moves -0.85%: What You Should Know
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Owens Corning (OC - Free Report) closed at $134.73 in the latest trading session, marking a -0.85% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.64%. Elsewhere, the Dow lost 1.08%, while the tech-heavy Nasdaq lost 1.82%.
Heading into today, shares of the construction materials company had lost 2.04% over the past month, outpacing the Construction sector's loss of 2.31% and lagging the S&P 500's gain of 0.89% in that time.
Wall Street will be looking for positivity from Owens Corning as it approaches its next earnings report date. On that day, Owens Corning is projected to report earnings of $3.78 per share, which would represent year-over-year growth of 5.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.52 billion, down 0.23% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $13.60 per share and revenue of $9.68 billion. These totals would mark changes of +5.59% and -0.86%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Owens Corning. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.04% higher within the past month. Owens Corning is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Owens Corning is currently trading at a Forward P/E ratio of 9.99. Its industry sports an average Forward P/E of 15.17, so we one might conclude that Owens Corning is trading at a discount comparatively.
It is also worth noting that OC currently has a PEG ratio of 1.27. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. OC's industry had an average PEG ratio of 1.54 as of yesterday's close.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 22, which puts it in the top 9% of all 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.
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Owens Corning (OC) Stock Moves -0.85%: What You Should Know
Owens Corning (OC - Free Report) closed at $134.73 in the latest trading session, marking a -0.85% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.64%. Elsewhere, the Dow lost 1.08%, while the tech-heavy Nasdaq lost 1.82%.
Heading into today, shares of the construction materials company had lost 2.04% over the past month, outpacing the Construction sector's loss of 2.31% and lagging the S&P 500's gain of 0.89% in that time.
Wall Street will be looking for positivity from Owens Corning as it approaches its next earnings report date. On that day, Owens Corning is projected to report earnings of $3.78 per share, which would represent year-over-year growth of 5.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.52 billion, down 0.23% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $13.60 per share and revenue of $9.68 billion. These totals would mark changes of +5.59% and -0.86%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Owens Corning. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.04% higher within the past month. Owens Corning is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Owens Corning is currently trading at a Forward P/E ratio of 9.99. Its industry sports an average Forward P/E of 15.17, so we one might conclude that Owens Corning is trading at a discount comparatively.
It is also worth noting that OC currently has a PEG ratio of 1.27. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. OC's industry had an average PEG ratio of 1.54 as of yesterday's close.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 22, which puts it in the top 9% of all 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.