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) Stock Drops Despite Market Gains: Important Facts to Note
Read MoreHide Full Article
Owens Corning (OC - Free Report) closed at $174.13 in the latest trading session, marking a -1.96% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.24%. Elsewhere, the Dow saw an upswing of 0.16%, while the tech-heavy Nasdaq appreciated by 0.08%.
The the stock of construction materials company has fallen by 5.15% in the past month, lagging the Construction sector's loss of 4.2% and the S&P 500's gain of 2.37%.
The investment community will be closely monitoring the performance of Owens Corning in its forthcoming earnings report. The company is scheduled to release its earnings on February 24, 2025. The company is predicted to post an EPS of $2.87, indicating a 10.59% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.78 billion, indicating a 20.53% upward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Owens Corning. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.59% increase. At present, Owens Corning boasts a Zacks Rank of #2 (Buy).
Looking at valuation, Owens Corning is presently trading at a Forward P/E ratio of 11.21. This signifies a discount in comparison to the average Forward P/E of 18.66 for its industry.
It is also worth noting that OC currently has a PEG ratio of 1.94. 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 1.81 as trading concluded yesterday.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 176, finds itself in the bottom 30% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Owens Corning (OC) Stock Drops Despite Market Gains: Important Facts to Note
Owens Corning (OC - Free Report) closed at $174.13 in the latest trading session, marking a -1.96% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.24%. Elsewhere, the Dow saw an upswing of 0.16%, while the tech-heavy Nasdaq appreciated by 0.08%.
The the stock of construction materials company has fallen by 5.15% in the past month, lagging the Construction sector's loss of 4.2% and the S&P 500's gain of 2.37%.
The investment community will be closely monitoring the performance of Owens Corning in its forthcoming earnings report. The company is scheduled to release its earnings on February 24, 2025. The company is predicted to post an EPS of $2.87, indicating a 10.59% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.78 billion, indicating a 20.53% upward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Owens Corning. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.59% increase. At present, Owens Corning boasts a Zacks Rank of #2 (Buy).
Looking at valuation, Owens Corning is presently trading at a Forward P/E ratio of 11.21. This signifies a discount in comparison to the average Forward P/E of 18.66 for its industry.
It is also worth noting that OC currently has a PEG ratio of 1.94. 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 1.81 as trading concluded yesterday.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 176, finds itself in the bottom 30% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.