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Owens Corning (OC) Outpaces Stock Market Gains: What You Should Know
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The most recent trading session ended with Owens Corning (OC - Free Report) standing at $177.46, reflecting a +1.32% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.55%. Elsewhere, the Dow saw an upswing of 0.62%, while the tech-heavy Nasdaq appreciated by 0.63%.
The construction materials company's shares have seen a decrease of 3.33% over the last month, not keeping up with the Construction sector's gain of 1.99% and the S&P 500's gain of 4.28%.
Investors will be eagerly watching for the performance of Owens Corning in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 6, 2024. The company's earnings per share (EPS) are projected to be $4.31, reflecting a 2.13% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.87 billion, indicating a 12.13% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $15.48 per share and revenue of $11.23 billion. These totals would mark changes of +7.35% and +16.03%, 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Owens Corning is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Owens Corning is holding a Forward P/E ratio of 11.31. This represents a discount compared to its industry's average Forward P/E of 19.61.
One should further note that OC currently holds a PEG ratio of 5.21. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Building Products - Miscellaneous was holding an average PEG ratio of 1.78 at yesterday's closing price.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 29, finds itself in the top 12% echelons 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.
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) Outpaces Stock Market Gains: What You Should Know
The most recent trading session ended with Owens Corning (OC - Free Report) standing at $177.46, reflecting a +1.32% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.55%. Elsewhere, the Dow saw an upswing of 0.62%, while the tech-heavy Nasdaq appreciated by 0.63%.
The construction materials company's shares have seen a decrease of 3.33% over the last month, not keeping up with the Construction sector's gain of 1.99% and the S&P 500's gain of 4.28%.
Investors will be eagerly watching for the performance of Owens Corning in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 6, 2024. The company's earnings per share (EPS) are projected to be $4.31, reflecting a 2.13% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.87 billion, indicating a 12.13% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $15.48 per share and revenue of $11.23 billion. These totals would mark changes of +7.35% and +16.03%, 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Owens Corning is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Owens Corning is holding a Forward P/E ratio of 11.31. This represents a discount compared to its industry's average Forward P/E of 19.61.
One should further note that OC currently holds a PEG ratio of 5.21. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Building Products - Miscellaneous was holding an average PEG ratio of 1.78 at yesterday's closing price.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 29, finds itself in the top 12% echelons 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.