Owens Corning (OC) Stock Dips While Market Gains: Key Facts
Owens Corning (OC) closed the latest trading day at $149.78, indicating a -0.08% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.52%. On the other hand, the Dow registered a gain of 0.12%, and the technology-centric Nasdaq increased by 0.9%.
Shares of the construction materials company have depreciated by 1.08% over the course of the past month, underperforming the Construction sector's gain of 9.43% and the S&P 500's gain of 3.85%.
Analysts and investors alike will be keeping a close eye on the performance of Owens Corning in its upcoming earnings disclosure. The company is expected to report EPS of $3.03, up 9.39% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $2.28 billion, indicating a 2.2% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $14.14 per share and revenue of $9.65 billion. These totals would mark changes of -1.94% and -0.28%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Owens Corning. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 2.27% rise in the Zacks Consensus EPS estimate. Owens Corning currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Owens Corning is holding a Forward P/E ratio of 10.6. This indicates a discount in contrast to its industry's Forward P/E of 18.78.
It's also important to note that OC currently trades at a PEG ratio of 0.41. 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 1.97 at the close of the market yesterday.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 17, which puts it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Owens Corning Inc (OC) : Free Stock Analysis Report
