Owens Corning (OC) Suffers a Larger Drop Than the General Market: Key Insights
Owens Corning (OC) ended the recent trading session at $145.24, demonstrating a -0.35% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.34%. Elsewhere, the Dow saw an upswing of 0.03%, while the tech-heavy Nasdaq depreciated by 0.56%.
The construction materials company's stock has climbed by 4.99% in the past month, falling short of the Construction sector's gain of 6.64% and outpacing the S&P 500's gain of 2.56%.
Analysts and investors alike will be keeping a close eye on the performance of Owens Corning in its upcoming earnings disclosure. The company is predicted to post an EPS of $2.80, indicating a 12.45% growth compared to the equivalent quarter last 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.
It's also important for investors to be aware of any recent modifications to analyst estimates for Owens Corning. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 1.55% higher. Right now, Owens Corning possesses a Zacks Rank of #2 (Buy).
In the context of valuation, Owens Corning is at present trading with a Forward P/E ratio of 10.51. For comparison, its industry has an average Forward P/E of 17.01, which means Owens Corning is trading at a discount to the group.
One should further note that OC currently holds a PEG ratio of 1.03. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Building Products - Miscellaneous industry held an average PEG ratio of 1.75.
The Building Products - Miscellaneous industry is part of the Construction sector. With its current Zacks Industry Rank of 55, this industry ranks in the top 22% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
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
