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Owens Corning (OC) Registers a Bigger Fall Than the Market: Important Facts to Note
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Owens Corning (OC - Free Report) ended the recent trading session at $158.94, demonstrating a -0.65% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.3%. Elsewhere, the Dow saw a downswing of 0.54%, while the tech-heavy Nasdaq appreciated by 0.25%.
The the stock of construction materials company has risen by 3.87% in the past month, leading the Construction sector's gain of 0.95% and the S&P 500's gain of 3.42%.
Investors will be eagerly watching for the performance of Owens Corning in its upcoming earnings disclosure. The company is forecasted to report an EPS of $4.01, showcasing a 3.37% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.04 billion, indicating a 22.67% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $15.39 per share and a revenue of $10.97 billion, signifying shifts of +6.73% and +13.35%, respectively, from the last 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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 1.57% lower within the past month. Owens Corning is currently a Zacks Rank #4 (Sell).
In terms of valuation, Owens Corning is presently being traded at a Forward P/E ratio of 10.4. This valuation marks a discount compared to its industry's average Forward P/E of 17.91.
Meanwhile, OC's PEG ratio is currently 3.18. 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. The Building Products - Miscellaneous industry currently had an average PEG ratio of 1.82 as of yesterday's close.
The Building Products - Miscellaneous industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 64, placing it within the top 26% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Owens Corning (OC) Registers a Bigger Fall Than the Market: Important Facts to Note
Owens Corning (OC - Free Report) ended the recent trading session at $158.94, demonstrating a -0.65% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.3%. Elsewhere, the Dow saw a downswing of 0.54%, while the tech-heavy Nasdaq appreciated by 0.25%.
The the stock of construction materials company has risen by 3.87% in the past month, leading the Construction sector's gain of 0.95% and the S&P 500's gain of 3.42%.
Investors will be eagerly watching for the performance of Owens Corning in its upcoming earnings disclosure. The company is forecasted to report an EPS of $4.01, showcasing a 3.37% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.04 billion, indicating a 22.67% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $15.39 per share and a revenue of $10.97 billion, signifying shifts of +6.73% and +13.35%, respectively, from the last 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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 1.57% lower within the past month. Owens Corning is currently a Zacks Rank #4 (Sell).
In terms of valuation, Owens Corning is presently being traded at a Forward P/E ratio of 10.4. This valuation marks a discount compared to its industry's average Forward P/E of 17.91.
Meanwhile, OC's PEG ratio is currently 3.18. 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. The Building Products - Miscellaneous industry currently had an average PEG ratio of 1.82 as of yesterday's close.
The Building Products - Miscellaneous industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 64, placing it within the top 26% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.