We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Owens Corning (OC) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
Owens Corning (OC - Free Report) closed at $174.35 in the latest trading session, marking a +0.09% move from the prior day. This change lagged the S&P 500's 0.28% gain on the day. Meanwhile, the Dow gained 0.15%, and the Nasdaq, a tech-heavy index, added 0.15%.
Heading into today, shares of the construction materials company had gained 1.41% over the past month, lagging the Construction sector's gain of 7.51% and the S&P 500's gain of 2% in that time.
The investment community will be closely monitoring the performance of Owens Corning in its forthcoming earnings report. The company is predicted to post an EPS of $4.01, indicating a 3.37% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $3.04 billion, indicating a 22.67% growth compared to the corresponding quarter of the prior year.
OC's full-year Zacks Consensus Estimates are calling for earnings of $15.39 per share and revenue of $10.97 billion. These results would represent year-over-year changes of +6.73% and +13.35%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Owens Corning currently has a Zacks Rank of #4 (Sell).
From a valuation perspective, Owens Corning is currently exchanging hands at a Forward P/E ratio of 11.32. This denotes a discount relative to the industry's average Forward P/E of 20.12.
We can also see that OC currently has a PEG ratio of 3.46. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Building Products - Miscellaneous industry stood at 1.93 at the close of the market yesterday.
The Building Products - Miscellaneous industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 134, placing it within the bottom 48% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Owens Corning (OC) Gains But Lags Market: What You Should Know
Owens Corning (OC - Free Report) closed at $174.35 in the latest trading session, marking a +0.09% move from the prior day. This change lagged the S&P 500's 0.28% gain on the day. Meanwhile, the Dow gained 0.15%, and the Nasdaq, a tech-heavy index, added 0.15%.
Heading into today, shares of the construction materials company had gained 1.41% over the past month, lagging the Construction sector's gain of 7.51% and the S&P 500's gain of 2% in that time.
The investment community will be closely monitoring the performance of Owens Corning in its forthcoming earnings report. The company is predicted to post an EPS of $4.01, indicating a 3.37% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $3.04 billion, indicating a 22.67% growth compared to the corresponding quarter of the prior year.
OC's full-year Zacks Consensus Estimates are calling for earnings of $15.39 per share and revenue of $10.97 billion. These results would represent year-over-year changes of +6.73% and +13.35%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Owens Corning currently has a Zacks Rank of #4 (Sell).
From a valuation perspective, Owens Corning is currently exchanging hands at a Forward P/E ratio of 11.32. This denotes a discount relative to the industry's average Forward P/E of 20.12.
We can also see that OC currently has a PEG ratio of 3.46. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Building Products - Miscellaneous industry stood at 1.93 at the close of the market yesterday.
The Building Products - Miscellaneous industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 134, placing it within the bottom 48% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.