Owens Corning (OC) Suffers a Larger Drop Than the General Market: Key Insights
Owens Corning (OC) ended the recent trading session at $147.96, demonstrating a -0.84% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.37%. At the same time, the Dow lost 0.62%, and the tech-heavy Nasdaq lost 0.19%.
The the stock of construction materials company has risen by 0.22% in the past month, leading the Construction sector's loss of 0.65% and undershooting the S&P 500's gain of 1.56%.
The upcoming earnings release of Owens Corning will be of great interest to investors. The company is expected to report EPS of $2.80, up 12.45% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.22 billion, down 2.64% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Owens Corning. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 past month, the Zacks Consensus EPS estimate has shifted 0.17% upward. Owens Corning is currently a Zacks Rank #1 (Strong Buy).
In the context of valuation, Owens Corning is at present trading with a Forward P/E ratio of 10.77. This expresses a discount compared to the average Forward P/E of 17.23 of its industry.
Meanwhile, OC's PEG ratio is currently 1.05. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Building Products - Miscellaneous industry had an average PEG ratio of 1.8 as trading concluded yesterday.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 33% 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.
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
