Owens Corning Gains as Earnings Estimates Point Lower

Owens Corning closed at $118.36 in the latest trading session, up 1.08% from the previous day. The S&P 500 rose 0.73%.

Over the past month, the shares have fallen 13.08%. The Construction sector declined 2.15% over the same period, while the S&P 500 gained 0.55%.

Ahead of the company’s next earnings report, Zacks’ consensus estimates call for quarterly earnings of $2.97 per share and revenue of $2.63 billion. Those figures would be down 19.07% and 2.14%, respectively, from the year-earlier quarter.

For the full fiscal year, Zacks estimates earnings of $9.89 per share and revenue of $10.03 billion. That would represent declines of 17.93% and 0.69%, respectively, from the prior year. Zacks said its consensus EPS estimate was revised 0.58% lower over the past 30 days.

Owens Corning’s forward P/E ratio is 11.84, below the industry average of 15.64, according to Zacks. Its PEG ratio is 1.89, compared with an industry average of 1.42.