In the latest market close, Owens Corning (OC) reached $143.96, with a -0.08% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.06%. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, lost 0.1%.
The the stock of construction materials company has risen by 1.02% in the past month, leading the Construction sector's loss of 6.22% and the S&P 500's loss of 4.29%.
The investment community will be paying close attention to the earnings performance of Owens Corning in its upcoming release. The company is slated to reveal its earnings on May 7, 2025. The company is forecasted to report an EPS of $2.82, showcasing a 21.45% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.52 billion, indicating a 9.41% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $14.10 per share and revenue of $10.58 billion. These totals would mark changes of -11.38% and -3.62%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Owens Corning. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 3.35% fall in the Zacks Consensus EPS estimate. As of now, Owens Corning holds a Zacks Rank of #4 (Sell).
Looking at valuation, Owens Corning is presently trading at a Forward P/E ratio of 10.22. This expresses a discount compared to the average Forward P/E of 15.47 of its industry.
One should further note that OC currently holds a PEG ratio of 3.57. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Building Products - Miscellaneous industry was having an average PEG ratio of 1.88.
The Building Products - Miscellaneous industry is part of the Construction sector. This group has a Zacks Industry Rank of 152, putting it in the bottom 39% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming 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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