In the latest market close, Owens Corning (OC) reached $172.47, with a +0.81% movement compared to the previous day. The stock's change was more than the S&P 500's daily loss of 0.04%. Elsewhere, the Dow saw an upswing of 0.07%, while the tech-heavy Nasdaq depreciated by 0.05%.
Prior to today's trading, shares of the construction materials company had lost 16.58% over the past month. This has lagged the Construction sector's loss of 11.56% and the S&P 500's gain of 1.05% in that time.
Investors will be eagerly watching for the performance of Owens Corning in its upcoming earnings disclosure. The company is predicted to post an EPS of $2.84, indicating a 11.53% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.78 billion, up 20.53% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $15.46 per share and revenue of $10.91 billion, which would represent changes of +7.21% and +12.76%, respectively, from the prior year.
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. 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 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Owens Corning possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Owens Corning currently has a Forward P/E ratio of 11.06. This signifies a discount in comparison to the average Forward P/E of 18.07 for its industry.
It's also important to note that OC currently trades at a PEG ratio of 1.91. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. OC's industry had an average PEG ratio of 1.91 as of yesterday's close.
The Building Products - Miscellaneous industry is part of the Construction sector. With its current Zacks Industry Rank of 151, this industry ranks in the bottom 40% of all industries, numbering over 250.
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.
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