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Owens Corning (OC) Stock Falls Amid Market Uptick: What Investors Need to Know
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Owens Corning (OC - Free Report) closed at $169.41 in the latest trading session, marking a -0.05% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 1.09% for the day. On the other hand, the Dow registered a gain of 1.18%, and the technology-centric Nasdaq increased by 1.03%.
Heading into today, shares of the construction materials company had lost 14.21% over the past month, lagging the Construction sector's loss of 8.88% and the S&P 500's loss of 0.71% in that time.
The upcoming earnings release of Owens Corning will be of great interest to investors. The company is forecasted to report an EPS of $2.84, showcasing a 11.53% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $2.78 billion, showing a 20.53% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $15.46 per share and a revenue of $10.91 billion, representing changes of +7.21% and +12.76%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Owens Corning. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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, there's been no change in the Zacks Consensus EPS estimate. As of now, Owens Corning holds a Zacks Rank of #3 (Hold).
In the context of valuation, Owens Corning is at present trading with a Forward P/E ratio of 10.96. This denotes a discount relative to the industry's average Forward P/E of 17.72.
It is also worth noting that OC currently has a PEG ratio of 1.9. 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. Building Products - Miscellaneous stocks are, on average, holding a PEG ratio of 1.9 based on yesterday's closing prices.
The Building Products - Miscellaneous industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 153, placing it within the bottom 40% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Owens Corning (OC) Stock Falls Amid Market Uptick: What Investors Need to Know
Owens Corning (OC - Free Report) closed at $169.41 in the latest trading session, marking a -0.05% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 1.09% for the day. On the other hand, the Dow registered a gain of 1.18%, and the technology-centric Nasdaq increased by 1.03%.
Heading into today, shares of the construction materials company had lost 14.21% over the past month, lagging the Construction sector's loss of 8.88% and the S&P 500's loss of 0.71% in that time.
The upcoming earnings release of Owens Corning will be of great interest to investors. The company is forecasted to report an EPS of $2.84, showcasing a 11.53% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $2.78 billion, showing a 20.53% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $15.46 per share and a revenue of $10.91 billion, representing changes of +7.21% and +12.76%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Owens Corning. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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, there's been no change in the Zacks Consensus EPS estimate. As of now, Owens Corning holds a Zacks Rank of #3 (Hold).
In the context of valuation, Owens Corning is at present trading with a Forward P/E ratio of 10.96. This denotes a discount relative to the industry's average Forward P/E of 17.72.
It is also worth noting that OC currently has a PEG ratio of 1.9. 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. Building Products - Miscellaneous stocks are, on average, holding a PEG ratio of 1.9 based on yesterday's closing prices.
The Building Products - Miscellaneous industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 153, placing it within the bottom 40% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.