In the latest trading session, Owens Corning (OC) closed at $113.69, marking a +2.18% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.33%. Elsewhere, the Dow saw an upswing of 1.08%, while the tech-heavy Nasdaq appreciated by 0.08%.
The stock of construction materials company has fallen by 12.11% in the past month, lagging the Construction sector's loss of 3.95% and the S&P 500's gain of 1.41%.
Market participants will be closely following the financial results of Owens Corning in its upcoming release. The company plans to announce its earnings on November 4, 2026. In that report, analysts expect Owens Corning to post earnings of $2.98 per share. This would mark a year-over-year decline of 18.8%. Meanwhile, our latest consensus estimate is calling for revenue of $2.6 billion, down 2.98% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.59 per share and a revenue of $9.9 billion, signifying shifts of -20.41% and -2.02%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates 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 business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.57% lower. At present, Owens Corning boasts a Zacks Rank of #4 (Sell).
From a valuation perspective, Owens Corning is currently exchanging hands at a Forward P/E ratio of 11.6. This signifies a discount in comparison to the average Forward P/E of 15.37 for its industry.
It is also worth noting that OC currently has a PEG ratio of 2.57. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Building Products - Miscellaneous industry had an average PEG ratio of 1.43 as trading concluded yesterday.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 213, finds itself in the bottom 14% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Owens Corning Inc (OC): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).