In the latest close session, Owens Corning (OC) was down 2.36% at $140.52. The stock trailed the S&P 500, which registered a daily loss of 0.19%. Elsewhere, the Dow saw a downswing of 0.59%, while the tech-heavy Nasdaq depreciated by 0.05%.
Shares of the construction materials company witnessed a gain of 12.31% over the previous month, beating the performance of the Construction sector with its loss of 4.61%, and the S&P 500's gain of 0.55%.
Investors will be eagerly watching for the performance of Owens Corning in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 5, 2026. The company is expected to report EPS of $3.06, down 27.32% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $2.67 billion, indicating a 2.75% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $9.55 per share and a revenue of $9.93 billion, representing changes of -20.75% and -1.68%, respectively, from the prior year.
Investors should also pay attention to any latest changes in 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.21% higher within the past month. Owens Corning currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Owens Corning is holding a Forward P/E ratio of 15.08. This represents a discount compared to its industry average Forward P/E of 18.37.
Also, we should mention that OC has a PEG ratio of 2.79. 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 average PEG ratio for the Building Products - Miscellaneous industry stood at 1.53 at the close of the market yesterday.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 37% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Owens Corning Inc (OC): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).