We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Owens Corning (OC) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
Owens Corning (OC - Free Report) closed the most recent trading day at $175.73, moving +0.62% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.51%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 0.93%.
Shares of the construction materials company witnessed a gain of 0.85% over the previous month, trailing the performance of the Construction sector with its gain of 4.24% and outperforming the S&P 500's loss of 0.26%.
Analysts and investors alike will be keeping a close eye on the performance of Owens Corning in its upcoming earnings disclosure. The company's earnings report is set to go public on August 6, 2024. The company is predicted to post an EPS of $4.31, indicating a 2.13% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $2.87 billion, up 12.13% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $15.44 per share and a revenue of $11.21 billion, signifying shifts of +7.07% and +15.84%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Owens Corning. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 has moved 0.26% lower. Owens Corning is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Owens Corning is currently trading at a Forward P/E ratio of 11.31. For comparison, its industry has an average Forward P/E of 20.82, which means Owens Corning is trading at a discount to the group.
Also, we should mention that OC has a PEG ratio of 5.21. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Building Products - Miscellaneous stocks are, on average, holding a PEG ratio of 1.87 based on yesterday's closing prices.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 58, finds itself in the top 24% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Owens Corning (OC) Gains As Market Dips: What You Should Know
Owens Corning (OC - Free Report) closed the most recent trading day at $175.73, moving +0.62% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.51%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 0.93%.
Shares of the construction materials company witnessed a gain of 0.85% over the previous month, trailing the performance of the Construction sector with its gain of 4.24% and outperforming the S&P 500's loss of 0.26%.
Analysts and investors alike will be keeping a close eye on the performance of Owens Corning in its upcoming earnings disclosure. The company's earnings report is set to go public on August 6, 2024. The company is predicted to post an EPS of $4.31, indicating a 2.13% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $2.87 billion, up 12.13% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $15.44 per share and a revenue of $11.21 billion, signifying shifts of +7.07% and +15.84%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Owens Corning. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 has moved 0.26% lower. Owens Corning is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Owens Corning is currently trading at a Forward P/E ratio of 11.31. For comparison, its industry has an average Forward P/E of 20.82, which means Owens Corning is trading at a discount to the group.
Also, we should mention that OC has a PEG ratio of 5.21. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Building Products - Miscellaneous stocks are, on average, holding a PEG ratio of 1.87 based on yesterday's closing prices.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 58, finds itself in the top 24% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.