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Owens Corning (OC) Stock Moves -0.04%: What You Should Know
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The most recent trading session ended with Owens Corning (OC - Free Report) standing at $165.87, reflecting a -0.04% shift from the previouse trading day's closing. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw a decrease of 0.23%.
Shares of the construction materials company have depreciated by 10.97% over the course of the past month, underperforming the Construction sector's gain of 0.33% and the S&P 500's gain of 2.55%.
Analysts and investors alike will be keeping a close eye on the performance of Owens Corning in its upcoming earnings disclosure. The company is expected to report EPS of $4.01, down 3.37% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $3.04 billion, indicating a 22.67% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $15.39 per share and revenue of $10.97 billion, which would represent changes of +6.73% and +13.35%, respectively, from the prior year.
Any recent changes to analyst estimates for Owens Corning should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.57% downward. Right now, Owens Corning possesses a Zacks Rank of #4 (Sell).
In terms of valuation, Owens Corning is currently trading at a Forward P/E ratio of 10.79. This valuation marks a discount compared to its industry's average Forward P/E of 18.47.
Also, we should mention that OC has a PEG ratio of 3.3. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Building Products - Miscellaneous industry had an average PEG ratio of 1.84.
The Building Products - Miscellaneous industry is part of the Construction sector. This group has a Zacks Industry Rank of 53, putting it in the top 21% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Owens Corning (OC) Stock Moves -0.04%: What You Should Know
The most recent trading session ended with Owens Corning (OC - Free Report) standing at $165.87, reflecting a -0.04% shift from the previouse trading day's closing. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw a decrease of 0.23%.
Shares of the construction materials company have depreciated by 10.97% over the course of the past month, underperforming the Construction sector's gain of 0.33% and the S&P 500's gain of 2.55%.
Analysts and investors alike will be keeping a close eye on the performance of Owens Corning in its upcoming earnings disclosure. The company is expected to report EPS of $4.01, down 3.37% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $3.04 billion, indicating a 22.67% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $15.39 per share and revenue of $10.97 billion, which would represent changes of +6.73% and +13.35%, respectively, from the prior year.
Any recent changes to analyst estimates for Owens Corning should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.57% downward. Right now, Owens Corning possesses a Zacks Rank of #4 (Sell).
In terms of valuation, Owens Corning is currently trading at a Forward P/E ratio of 10.79. This valuation marks a discount compared to its industry's average Forward P/E of 18.47.
Also, we should mention that OC has a PEG ratio of 3.3. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Building Products - Miscellaneous industry had an average PEG ratio of 1.84.
The Building Products - Miscellaneous industry is part of the Construction sector. This group has a Zacks Industry Rank of 53, putting it in the top 21% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.