In the latest market close, Owens Corning (OC) reached $178.28, with a -1.03% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.28%, while the tech-heavy Nasdaq lost 0.36%.

Shares of the construction materials company have appreciated by 6.28% over the course of the past month, outperforming the Construction sector's gain of 3.08% and the S&P 500's gain of 4.19%.

Market participants will be closely following the financial results of Owens Corning in its upcoming release. The company plans to announce its earnings on February 24, 2025. The company is forecasted to report an EPS of $2.87, showcasing a 10.59% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.78 billion, indicating a 20.53% increase compared to the same quarter of the previous year.

Investors should also pay attention to any latest changes in analyst estimates for Owens Corning. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.59% increase. Owens Corning is currently a Zacks Rank #2 (Buy).

In the context of valuation, Owens Corning is at present trading with a Forward P/E ratio of 11.36. This expresses a discount compared to the average Forward P/E of 17.81 of its industry.

We can also see that OC currently has a PEG ratio of 1.97. 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 Building Products - Miscellaneous industry currently had an average PEG ratio of 1.78 as of yesterday's close.

The Building Products - Miscellaneous industry is part of the Construction sector. With its current Zacks Industry Rank of 139, this industry ranks in the bottom 45% of all industries, numbering over 250.

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.

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