Owens Corning (OC) Flat As Market Gains: What You Should Know
The most recent trading session ended with Owens Corning (OC) standing at $148.75, reflecting no shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.04%. Meanwhile, the Dow experienced a rise of 0.14%, and the technology-dominated Nasdaq saw a decrease of 0.03%.
The the stock of construction materials company has risen by 10.89% in the past month, lagging the Construction sector's gain of 14.44% and overreaching the S&P 500's gain of 5.28%.
The investment community will be closely monitoring the performance of Owens Corning in its forthcoming earnings report. It is anticipated that the company will report an EPS of $2.80, marking a 12.45% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $2.22 billion, showing a 2.64% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.87 per share and revenue of $9.61 billion, which would represent changes of +7.69% and -1.6%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Owens Corning. 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 company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.82% higher. Owens Corning is holding a Zacks Rank of #2 (Buy) right now.
Looking at valuation, Owens Corning is presently trading at a Forward P/E ratio of 10.73. This valuation marks a discount compared to its industry's average Forward P/E of 19.15.
We can also see that OC currently has a PEG ratio of 1.05. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Building Products - Miscellaneous industry had an average PEG ratio of 1.93 as trading concluded yesterday.
The Building Products - Miscellaneous industry is part of the Construction sector. This group has a Zacks Industry Rank of 28, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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 Inc (OC) : Free Stock Analysis Report
