Owens Corning (OC) Dips More Than Broader Market: What You Should Know
Owens Corning (OC) ended the recent trading session at $137.72, demonstrating a -1.47% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.27%.
Heading into today, shares of the construction materials company had lost 1.98% lagging the Construction sector's gain of 3.59% and the S&P 500's gain of 6.9%.
Analysts and investors alike will be keeping a close eye on the performance of Owens Corning in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $3.8, reflecting a 18.1% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.7 billion, indicating a 3.03% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.24 per share and revenue of $10.38 billion, which would represent changes of -16.78% and -5.46%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Owens Corning. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.74% downward. Right now, Owens Corning possesses a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Owens Corning has a Forward P/E ratio of 10.55 right now. This denotes a discount relative to the industry average Forward P/E of 16.4.
We can also see that OC currently has a PEG ratio of 3.69. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Building Products - Miscellaneous industry had an average PEG ratio of 1.75.
The Building Products - Miscellaneous industry is part of the Construction sector. With its current Zacks Industry Rank of 69, this industry ranks in the top 29% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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 Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
35 minutes ago
- Yahoo
3 big risks for retirees' portfolios & how to de-risk
John Shrewsbury, co-owner and managing principal at GenWealth Financial Advisors, breaks down how retirees should be managing their portfolios amid trade uncertainty and geopolitical conflict. He also highlights three key risks to keep an eye on: inflation, longevity, and timing (or sequence of returns). To watch more expert insights and analysis on the latest market action, check out more Catalysts here. Investors have enjoyed back-to-back years of double-digit returns from the S&P 500, but trade uncertainty, geopolitical conflict, and inflation could potentially weigh on portfolios. Our next guest says there are three risks investors near retirement should be aware of. I want to bring in John Shrewsbury, who is the GenWealth Financial Advisors co-owner and managing principal for this week's FA Corner, brought to you by Capital Group. Great to have you here with us. So, let's just dive into where some of those who are near retirement should be monitoring in the range of different items that could impact some of their returns for their, their hard-earned nest egg at this point. Brad, obviously times like these are scary for people as they approach retirement. When you think about what retirement really means, it means that you're kind of walking off the, uh, the paycheck cliff and, and depending on your own resources to do that. And your resources are being bopped around by the market volatility that is, uh, being prompted by the uncertainty in the Middle East. So, you've got a situation here where people are also facing risks that they don't really even appreciate, I think. Number one is inflation risk because in working years, your job usually keeps pace with inflation in terms of pay increases. When you go into retirement, prices still go up, but you have to increase your income from your portfolio. So, your portfolio has to support those income increases that you would get in retirement. Longevity risk is another issue. If you think about the risk of living too long, and I know that sounds funny because we all want to live a long life, but longevity kind of stretches your portfolio and causes you an undue strain. The longer you live, the more your portfolio has to work to provide that income. But the big risk that we see that kind of combines with what's going on right now is timing risk, or what we would call sequence risk, sequence of return risk. Imagine this, as you're walking into retirement, all of a sudden your portfolio drops pretty significantly and you're forced to sell things at a time when you probably don't want to sell them. That is sequence risk. So, those are the three big risks that we see in retirement. And I think people oftentimes think they have to be tactical to address those risks, but you really have to be strategy-based, and that's what we would prescribe as a proper strategy to navigate around that market volatility. Amid the confluence of these events, how can those near retirement effectively de-risk to make sure that they are kind of navigating with their own investments and portfolio navigating in a sense that will continue to grow their money regardless of how volatile things get? I think number one, you've got to focus on the next five years and then isolate a portion of your portfolio into less risky investments so that you're not reverse dollar cost averaging or you're not selling things when the market is volatile. If you isolate that and go into cash and cash equivalents, low-risk bonds, things of that nature, then you've got a pool of calm money that will get you through most of the upheavals that you see in the market. And then if you kind of stair-step your portfolio in time segmented buckets, if you will, more of a balanced approach after that five-year period of time. And then after 10 or 15 years, you can go into equities because you're going to need that growth. And I think the real magic of this is to harvest gains from those equity buckets and those balance buckets, and refill your income bucket as time goes on and you have the opportunity to do that when markets settle down and performance is better than it might be during a downturn. And what about for the part of your portfolio where you still do want to have exposure to risk? Are there new opportunities that you're seeing really make themselves clear at this point? There's always a lot of opportunities to stabilize risk. There's obviously, you know, options that you can take on your equity portfolios. There's also a means by which an indexed annuity can downside risk protect, but still give you upside potential. Registered index linked annuities have the opportunity of getting most of the upside of the market, but also can buffer the downside. And for folks where that's appropriate for them, then that could certainly be a way that they could have a little bit more sleeping power when it comes to those equity portfolios against the backdrop of a volatile market. John, thank you so much for taking the time here with us today to break this down. That was FA Corner, brought to you by Capital Group. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
42 minutes ago
- Business Insider
A Fed governor just gave Trump fresh hope in his fight against the central bank
President Donald Trump has said repeatedly this year that rates should come down. On Friday, the president got a concurring opinion from a top official inside the central bank. Fed Gov. Christopher Waller told CNBC that he believes tariffs won't have a big impact on inflation and that Powell should consider cutting rates next month. "I think we've got room to bring it down, and then we can kind of see what happens with inflation," Waller said, adding that rate cuts could be paused again if geopolitical tensions rise and push up inflation. He also said that any concerns about the labor market should be addressed sooner rather than later, and the right call would be to "move now, don't wait." Arguments over whether to cut interest rates and by how much have swirled in markets all year. Fed fund futures still imply an 83% chance of no cut in July, with the September meeting being eyed as the earliest date for a 25 basis point reduction. Recently, Trump has been more vocal about his wish for the Fed to lower borrowing costs. Vice President JD Vance has also piled on, criticizing the central bank and describing its refusal to cut interest rates as "monetary malpractice." Waller's dovish comments initially sparked a positive reaction in markets, though stocks pared most gains by late morning. S&P 500: 5,985.71, up 0.08% Dow Jones Industrial Average: 42,318.84, up 0.35% (+147.19 points) Nasdaq Composite: 19,491.52, down 0.28% Despite the blowback, Powell has been insistent on remaining in a holding pattern until the data shifts. "We believe that the current stance of monetary policy leaves us well positioned to respond in a timely way to potential economic developments," he said at the recent meeting, adding that he would have more to say after reviewing economic developments. Trump has said he wished to fire Powell, though the market balked at the prospect of political meddling and forced him to temper his comments. As for who could be the next Fed boss, betting markets see former Fed Gov. Kevin Warsh, former Trump economic advisor Judy Shelton, and current Treasury Secretary Scott Bessent as the top three most likely picks, though the highest odds show no pick before December 2025.
Yahoo
an hour ago
- Yahoo
Stocks Erase Early Gains on Weakness in Chip Makers
The S&P 500 Index ($SPX) (SPY) today is down -0.26%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.09%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.59%. September E-mini S&P futures (ESU25) are down -0.16%, and September E-mini Nasdaq futures (NQU25) are down -0.48%. Stock indexes today gave up an early advance and turned lower on weakness in chip makers after a report from The Wall Street Journal stated that a top US official told top global semiconductor makers the US might revoke waivers for allies with semiconductor plants in China. Stocks today initially moved higher on signs of easing tensions in the Middle East. WTI crude prices erased gains and moved lower after Reuters reported that the Iranian government said it is ready to discuss limitations on its uranium enrichment. Stocks have support on speculation that the US will give negotiations a chance before deciding to enter the Israel-Iran war, following the White House's announcement on Thursday that President Trump would decide within two weeks on any US involvement in the conflict, and there is still a "substantial chance" of a negotiated settlement. Stocks also have support from dovish comments today from Fed Governor Waller, who said, "I think we have room to bring interest rates down as early as July, and then we can see kind of see what happens with inflation." Trading activity today may be more volatile than usual due to the expiration of approximately $6.5 trillion in June options, futures, and derivatives contracts, an event known as "triple witching." Today's US economic news was negative for stocks. The June Philadelphia Fed business outlook survey was unchanged at -4.0, weaker than expectations of an increase to -1.5. Also, May index of leading economic indicators fell -0.1% m/m, right on expectations, and the sixth consecutive month the LEI has declined. Stocks still have some negative carryover from Wednesday when Fed Chair Powell warned that tariff-driven economic uncertainty and inflation risk continue to complicate the Fed's chances to ease monetary policy. Also, the FOMC cut its US GDP forecast and raised its inflation forecast for this year. Hostilities between Israel and Iran entered an eighth day today with no signs of easing. Israel struck more of Iran's nuclear and missile production sites today and warned it could bring down Iran's leadership. Meanwhile, Iran said it won't negotiate with the US while Israel's assault continues. Iranian President Pezeshkian said the only way to end the imposed war is to "unconditionally stop" the enemy's aggression. Iran showed no signs of backing down and reiterated an intention to respond with force if the US were to get directly involved in Israeli attacks. So far, there's been no closure of the vital Strait of Hormuz that handles about 20% of the world's daily crude shipments, although a French naval liaison group said that navigational signals from about 1000 vessels a day moving through the strait are being disrupted due to "extreme jamming" of signals from the Iranian port of Bandar Abbas, which caused a collision of two tankers Tuesday near the Strait of Hormuz. Investors are bracing for negative tariff news within the next week or so following President Trump's announcement last Wednesday that he intends to send letters to dozens of US trading partners within one to two weeks, setting unilateral tariffs ahead of the July 9 deadline that came with his 90-day pause. The markets are discounting the chances at 15% for a -25 bp rate cut at the July 29-30 FOMC meeting. Overseas stock markets today are mixed. The Euro Stoxx 50 is up by +0.70%. China's Shanghai Composite closed down -0.07%. Japan's Nikkei Stock 225 closed down -0.22%. Interest Rates September 10-year T-notes (ZNU25) today are down -4 ticks. The 10-year T-note yield is up +2.8 bp to 4.419%. T-notes today are under pressure on negative carryover from weakness in European government bonds. Also, rising inflation expectations are bearish for T-notes after the US 10-year breakeven inflation rate today rose to a 2-week high at 2.337%. T-notes recovered from their worst levels on the weaker-than-expected Philadelphia Fed business outlook survey. Also, dovish comments from Fed Governor Waller were bullish for T-notes when he said, "I think we have room to bring interest rates down as early as July." T-notes are still supported by safe-haven demand on concern the US may be on the verge of joining the attack against Iran. European government bond yields today are higher. The 10-year German bund yield is up +0.9 bp to 2.530%. The 10-year UK gilt yield is up +1.8 bp to 4.548%. The Eurozone Jun consumer confidence index unexpectedly fell -0.1 to -15.3, weaker than expectations of an increase to -14.9. The German May PPI fell -1.2% y/y, right on expectations and the biggest decline in 8 months. UK May retail sales ex-auto fuel fell -2.8% m/m, weaker than expectations of -0.7% m/m and the biggest decline in nearly 1-1/2 years. Swaps are discounting the chances at 6% for a -25 bp rate cut by the ECB at the July 24 policy meeting. US Stock Movers Chip makers turned lower today and are weighing on the broader market. Lam Research (LRCX), KLA Corp (KLAC), and Applied Materials (AMAT) are down more than -3%. Also, Broadcom (AVGO), ASML Holding NV (ASML), Marvell Technology (MRVL), and Intel (INTC) are down more than -2%. In addition, Qualcomm (QCOM), GlobalFoundries (GFS), Analog Devices (ADI), and NXP Semiconductors NV (NXPI) are down more than -1%. Weakness in the Magnificent Seven stocks is a negative factor for the overall market. Alphabet (GOOGL) is down more than -2%. Also, Nvidia (NVDA), (AMZN), Meta Platforms (META), and Tesla (TSLA) are down more than -1%. Microsoft (MSFT) is down -0.10%, but Apple (AAPL) is buckling the trend and is up +0.34%. Accenture (ACN) is down more than -5% to lead losers in the S&P 500 after lowering its full-year operating margin forecast to 15.6% from a previous forecast of 15.6%-15.7%. Smith & Wesson Brands (SWBI) is down more than -15% after reporting Q4 adjusted EPS of 20 cents, weaker than the consensus of 23 cents. Jack in the Box (JACK) is down more than -1% after Stifel downgraded the stock to hold from buy. Kroger (KR) is up more than +7% to lead gainers in the S&P 500 after reporting Q1 adjusted EPS of $1.49, better than the consensus of $1.45. CarMax (KMX) is up more than +5% after reporting Q1 net sales of $7.55 billion, stronger than expectations of $7.52 billion. Fair Isaac Co (FICO) is up more than +2% after its Board of Directors approved a stock repurchase program to acquire up to $1 billion of the company's outstanding common stock. GMS Inc (GMS) is up more than +29% after the Wall Street Journal reported that Home Depot had made an offer for the company, potentially setting off a bidding war with QXO Inc, which made a $5 billion offer for the company earlier this week. Circle Internet Group (CRCL) is up more than +12%, adding to Wednesday's +34% surge after the US Senate passed stablecoin legislation setting up regulatory rules for cryptocurrencies pegged to the dollar. Mondelez International (MDLZ) is up more than +3% to lead gainers in the Nasdaq 100 after Wells Fargo Securities upgraded the stock to overweight from neutral with a price target of $78. Darden Restaurants (DRI) is up more than 1% after reporting that Q4 comparable same-store sales rose 4.60%, stronger than the consensus of 3.46%. Earnings Reports (6/20/2025) Accenture PLC (ACN), CarMax Inc (KMX), Darden Restaurants Inc (DRI), Kroger Co/The (KR). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
