Here's Why Owens Corning (OC) Fell More Than Broader Market

Owens Corning (OC) ended the recent trading session at $169.29, demonstrating a -0.6% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.22%. On the other hand, the Dow registered a loss of 0.36%, and the technology-centric Nasdaq decreased by 0.16%.Coming into today, shares of the construction materials company had lost 16.2% in the past month. In that same time, the Construction sector lost 12.78%, while the S&P 500 lost 2.36%.The investment community will be paying close attention to the earnings performance of Owens Corning in its upcoming release. It is anticipated that the company will report an EPS of $2.84, marking a 11.53% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.78 billion, indicating a 20.53% increase compared to the same quarter of the previous year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Owens Corning. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Owens Corning presently features a Zacks Rank of #3 (Hold).In the context of valuation, Owens Corning is at present trading with a Forward P/E ratio of 10.81. This valuation marks a discount compared to its industry's average Forward P/E of 17.57.Investors should also note that OC has a PEG ratio of 1.87 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Building Products - Miscellaneous stocks are, on average, holding a PEG ratio of 1.85 based on yesterday's closing prices.The Building Products - Miscellaneous industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 30% of all 250+ industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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.Just Released: Zacks Top 10 Stocks for 2024Hurry – you can still get in early on our 10 top tickers for 2025. Handpicked by Zacks Director of Research Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2024, the Zacks Top 10 Stocks gained +2,112.6%, more than QUADRUPLING the S&P 500’s +475.6%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2025. You can still be among the first to see these just-released stocks with enormous potential. See New Top 10 Stocks >>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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks