Owens Corning (OC) ended the recent trading session at $123.97, demonstrating a -1.23% change from the preceding day's closing price. This change lagged the S&P 500's 0.49% loss on the day. Elsewhere, the Dow saw a downswing of 0.05%, while the tech-heavy Nasdaq depreciated by 0.9%.
Shares of the construction materials company witnessed a gain of 20.32% over the previous month, beating the performance of the Construction sector with its gain of 13.24%, and the S&P 500's gain of 12.8%.
The investment community will be paying close attention to the earnings performance of Owens Corning in its upcoming release. The company is slated to reveal its earnings on May 6, 2026. The company is forecasted to report an EPS of $1.01, showcasing a 65.99% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $2.16 billion, indicating a 14.77% decline compared to the corresponding quarter of the prior year.
OC's full-year Zacks Consensus Estimates are calling for earnings of $9.45 per share and revenue of $9.69 billion. These results would represent year-over-year changes of -21.58% and -4.08%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Owens Corning. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 5.56% lower within the past month. Currently, Owens Corning is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Owens Corning is presently being traded at a Forward P/E ratio of 13.28. Its industry sports an average Forward P/E of 19.6, so one might conclude that Owens Corning is trading at a discount comparatively.
It is also worth noting that OC currently has a PEG ratio of 2.13. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. OC's industry had an average PEG ratio of 1.48 as of yesterday's close.
The Building Products - Miscellaneous industry is part of the Construction sector. With its current Zacks Industry Rank of 167, this industry ranks in the bottom 32% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Owens Corning Inc (OC): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).