In the latest market close, Owens Corning (OC) reached $187.92, with a +0.08% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.29%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 0.5%.
The construction materials company's shares have seen an increase of 8.87% over the last month, surpassing the Construction sector's gain of 4.49% and the S&P 500's gain of 2.52%.
The investment community will be closely monitoring the performance of Owens Corning in its forthcoming earnings report. It is anticipated that the company will report an EPS of $2.85, marking a 11.21% fall compared to the same quarter of the previous 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. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.59% higher. Owens Corning currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Owens Corning is holding a Forward P/E ratio of 11.85. This signifies a discount in comparison to the average Forward P/E of 18.14 for its industry.
One should further note that OC currently holds a PEG ratio of 2.05. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Building Products - Miscellaneous industry held an average PEG ratio of 1.93.
The Building Products - Miscellaneous industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 182, placing it within the bottom 28% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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