It's well-known that Home Depot's future depends on spending for home improvements, which is influenced by the housing market. Because of this, many investors purchase the stock in hopes of benefiting from a stronger housing market, especially if interest rates decrease.
On the most recent trading day, Owens Corning (OC) closed at $144.58, which is a decrease of 0.7% compared to its last closing price.
On the most recent trading day, Owens Corning (OC) closed at $144.58, which is a decrease of 0.7% compared to its last closing price.
Owens Corning (OC) finished the most recent trading session at $154.04, which is an increase of 1.3% compared to the previous day.
Owens Corning is concentrating on ESG, insulation, and energy transition, and the acquisition of Masonite gives it a strong foundation for growth, even with current market difficulties. The company announced sales of $10.98 billion for 2024 and adjusted earnings of $15.91 per share, but GAAP earnings were much lower because of several charges. Although the valuation is reasonable at 10 times adjusted earnings and debt levels are lower, the absence of organic growth and high margins restricts the potential for earnings growth in the near future.
On Monday, Owens Corning (OC) shares dropped by 4% as the company, which produces insulation and other construction materials, experienced a decline in demand for its traditional products. They also cautioned about challenges in their business operations in North America and Europe.
Owens Corning (OC) reported quarterly earnings of $3.22 per share, which is higher than the Zacks Consensus Estimate of $2.87 per share. This is a slight increase compared to earnings of $3.21 per share from the same period last year.
Owens Corning OC is set to announce its financial results for the fourth quarter after the market closes on Monday, February 24.
Owens Corning (OC) finished the last trading day at $174.13, which is a decrease of 1.96% compared to the day before.
OC is improving its product range by selling glass reinforcements for $755 million, which will help them concentrate more on product development.