Owens Corning (OC) Stock Moves -0.1%: What You Should Know
Owens Corning (OC) closed the most recent trading day at $165.97, moving -0.1% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 0.14%. Meanwhile, the Dow experienced a drop of 0.77%, and the technology-dominated Nasdaq saw an increase of 0.17%.
The the stock of construction materials company has risen by 14.87% in the past month, leading the Construction sector's gain of 10.87% and the S&P 500's gain of 5.34%.
The investment community will be closely monitoring the performance of Owens Corning in its forthcoming earnings report. On that day, Owens Corning is projected to report earnings of $3.03 per share, which would represent year-over-year growth of 9.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.27 billion, down 2.83% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $14.08 per share and revenue of $9.62 billion. These totals would mark changes of -2.36% and -0.61%, respectively, from last year.
It's also important for investors to be aware of any recent modifications 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.44% lower. Currently, Owens Corning is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Owens Corning is currently exchanging hands at a Forward P/E ratio of 11.8. This signifies a discount in comparison to the average Forward P/E of 21.05 for its industry.
Investors should also note that OC has a PEG ratio of 0.45 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. OC's industry had an average PEG ratio of 1.85 as of yesterday's close.
The Building Products - Miscellaneous industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 9, positioning it in the top 4% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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 Report
