Owens Corning (OC) closed the most recent trading day at $144.32, moving -2.12% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.14%. Elsewhere, the Dow saw an upswing of 0.2%, while the tech-heavy Nasdaq appreciated by 0.27%.
Shares of the construction materials company witnessed a gain of 9.63% over the previous month, beating the performance of the Construction sector with its gain of 5.37%, and the S&P 500's gain of 3.97%.
Analysts and investors alike will be keeping a close eye on the performance of Owens Corning in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $3.8, marking a 18.1% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $2.7 billion, down 3.03% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $13.24 per share and a revenue of $10.38 billion, signifying shifts of -16.78% and -5.46%, respectively, from the last year.
Any recent changes to analyst estimates for Owens Corning should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Owens Corning currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Owens Corning has a Forward P/E ratio of 11.13 right now. Its industry sports an average Forward P/E of 18.7, so one might conclude that Owens Corning is trading at a discount comparatively.
One should further note that OC currently holds a PEG ratio of 3.89. 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 average PEG ratio for the Building Products - Miscellaneous industry stood at 1.99 at the close of the market yesterday.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 90, finds itself in the top 37% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Owens Corning Inc (OC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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