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Owens Corning (OC) Exceeds Market Returns: Some Facts to Consider
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In the latest trading session, Owens Corning (OC - Free Report) closed at $176.52, marking a +1.27% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.42% for the day. On the other hand, the Dow registered a gain of 0.04%, and the technology-centric Nasdaq increased by 0.38%.
Shares of the construction materials company have appreciated by 3.3% over the course of the past month, underperforming the Construction sector's gain of 5.79% and outperforming the S&P 500's gain of 2.06%.
The investment community will be closely monitoring the performance of Owens Corning in its forthcoming earnings report. The company is predicted to post an EPS of $4.01, indicating a 3.37% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $3.04 billion, up 22.67% from the year-ago period.
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.
It is also important to note the recent changes to analyst estimates for Owens Corning. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Owens Corning is currently sporting a Zacks Rank of #4 (Sell).
With respect to valuation, Owens Corning is currently being traded at a Forward P/E ratio of 11.33. This indicates a discount in contrast to its industry's Forward P/E of 20.27.
One should further note that OC currently holds a PEG ratio of 3.46. 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. The Building Products - Miscellaneous industry currently had an average PEG ratio of 1.95 as of yesterday's close.
The Building Products - Miscellaneous industry is part of the Construction sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Owens Corning (OC) Exceeds Market Returns: Some Facts to Consider
In the latest trading session, Owens Corning (OC - Free Report) closed at $176.52, marking a +1.27% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.42% for the day. On the other hand, the Dow registered a gain of 0.04%, and the technology-centric Nasdaq increased by 0.38%.
Shares of the construction materials company have appreciated by 3.3% over the course of the past month, underperforming the Construction sector's gain of 5.79% and outperforming the S&P 500's gain of 2.06%.
The investment community will be closely monitoring the performance of Owens Corning in its forthcoming earnings report. The company is predicted to post an EPS of $4.01, indicating a 3.37% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $3.04 billion, up 22.67% from the year-ago period.
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.
It is also important to note the recent changes to analyst estimates for Owens Corning. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Owens Corning is currently sporting a Zacks Rank of #4 (Sell).
With respect to valuation, Owens Corning is currently being traded at a Forward P/E ratio of 11.33. This indicates a discount in contrast to its industry's Forward P/E of 20.27.
One should further note that OC currently holds a PEG ratio of 3.46. 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. The Building Products - Miscellaneous industry currently had an average PEG ratio of 1.95 as of yesterday's close.
The Building Products - Miscellaneous industry is part of the Construction sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.