The upcoming report from Owens Corning (OC) is expected to reveal quarterly earnings of $2.87 per share, indicating a decline of 10.6% compared to the year-ago period. Analysts forecast revenues of $2.78 billion, representing an increase of 20.5% year over year.

The current level reflects an upward revision of 1.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.

Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

Given this perspective, it's time to examine the average forecasts of specific Owens Corning metrics that are routinely monitored and predicted by Wall Street analysts.

The collective assessment of analysts points to an estimated 'Net Sales- Insulation' of $925.96 million. The estimate indicates a year-over-year change of -0.5%.

The consensus estimate for 'Net Sales- Roofing' stands at $894.86 million. The estimate indicates a change of -3.6% from the prior-year quarter.

Analysts predict that the 'Net Sales- Composites' will reach $505.30 million. The estimate suggests a change of -1.7% year over year.

Analysts' assessment points toward 'EBIT- Composites' reaching $30.49 million. Compared to the current estimate, the company reported $26 million in the same quarter of the previous year.

Analysts expect 'EBIT- Roofing' to come in at $268.52 million. Compared to the present estimate, the company reported $284 million in the same quarter last year.

It is projected by analysts that the 'EBIT- Insulation' will reach $150.61 million. Compared to the present estimate, the company reported $150 million in the same quarter last year.

View all Key Company Metrics for Owens Corning here>>>

Shares of Owens Corning have demonstrated returns of -1.8% over the past month compared to the Zacks S&P 500 composite's +4.7% change. With a Zacks Rank #2 (Buy), OC is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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