Owens Corning is drawing heavy investor attention as analysts trim their earnings estimates for the construction materials maker. For the current quarter, Owens Corning is expected to post earnings of $2.97 per share, a decline of 19.1% from the year-ago quarter, and the Zacks Consensus Estimate has fallen 4.4% over the last 30 days. The consensus estimate of $9.89 for the current fiscal year points to a year-over-year change of -17.9% and has slipped 0.6% over the past month, while the next fiscal year's estimate of $11.95 implies growth of 20.9% but has been cut 2% over the past month. On the revenue side, the consensus sales estimate of $2.63 billion for the current quarter reflects a year-over-year change of -2.1%, with full-year estimates of $10.03 billion and $10.47 billion for the current and next fiscal years. Owens Corning reported revenues of $2.76 billion in the last reported quarter, a year-over-year change of +0.3%, with EPS of $3.93 versus $4.21 a year ago, beating the consensus revenue estimate of $2.67 billion by 3.16% and the EPS estimate by 28.43%. Based on the recent estimate revisions and three other earnings-related factors, Owens Corning carries a Zacks Rank #3 (Hold), suggesting it may perform in line with the broader market in the near term.
Owens Corning IncAnalysts trimmed Owens Corning's earnings estimates and it carries a Zacks Rank #3 (Hold) with expected EPS down 19.1% YoY
Corning Incorporated