Owens Corning (OC) 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Owens Corning Inc (OC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.