Owens Corning (OC) Gains As Market Dips: What You Should Know

Owens Corning (OC) ended the recent trading session at $144.70, demonstrating a +1.68% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.07% for the day. Meanwhile, the Dow lost 0.37%, and the Nasdaq, a tech-heavy index, added 0.03%. Prior to today's trading, shares of the construction materials company had gained 3.79% outpaced the Construction sector's gain of 3.52% and lagged the S&P 500's gain of 3.94%.The upcoming earnings release of Owens Corning will be of great interest to investors. The company is expected to report EPS of $3.8, down 18.1% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $2.7 billion, showing a 3.03% drop compared to the year-ago quarter. OC's full-year Zacks Consensus Estimates are calling for earnings of $13.24 per share and revenue of $10.38 billion. These results would represent year-over-year changes of -16.78% and -5.46%, respectively. Investors should also note any recent changes to analyst estimates for Owens Corning. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Owens Corning currently has a Zacks Rank of #4 (Sell). From a valuation perspective, Owens Corning is currently exchanging hands at a Forward P/E ratio of 10.74. This valuation marks a discount compared to its industry average Forward P/E of 17.97. It is also worth noting that OC currently has a PEG ratio of 3.76. 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. Building Products - Miscellaneous stocks are, on average, holding a PEG ratio of 1.92 based on yesterday's closing prices. The Building Products - Miscellaneous industry is part of the Construction sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 40% of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual 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. Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. Zacks' Research Chief Picks Stock Most Likely to "At Least Double"Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren’t winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%.See Our Top Stock to Double (Plus 4 Runners Up) >>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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks