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Canadian Natural Resources (CNQ) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $51.33, marking a +1.46% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.45%. Elsewhere, the Dow gained 0.86%, while the tech-heavy Nasdaq added 0.44%.
Prior to today's trading, shares of the oil and natural gas company had gained 4.85% over the past month. This has lagged the Oils-Energy sector's gain of 7.87% and outpaced the S&P 500's loss of 3.26% in that time.
Investors will be hoping for strength from Canadian Natural Resources as it approaches its next earnings release, which is expected to be March 3, 2022. In that report, analysts expect Canadian Natural Resources to post earnings of $1.58 per share. This would mark year-over-year growth of 1216.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.19 billion, up 86.76% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Canadian Natural Resources. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.99% higher. Canadian Natural Resources currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Canadian Natural Resources currently has a Forward P/E ratio of 9.24. Its industry sports an average Forward P/E of 4.92, so we one might conclude that Canadian Natural Resources is trading at a premium comparatively.
It is also worth noting that CNQ currently has a PEG ratio of 0.65. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CNQ's industry had an average PEG ratio of 0.65 as of yesterday's close.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Canadian Natural Resources (CNQ) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $51.33, marking a +1.46% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.45%. Elsewhere, the Dow gained 0.86%, while the tech-heavy Nasdaq added 0.44%.
Prior to today's trading, shares of the oil and natural gas company had gained 4.85% over the past month. This has lagged the Oils-Energy sector's gain of 7.87% and outpaced the S&P 500's loss of 3.26% in that time.
Investors will be hoping for strength from Canadian Natural Resources as it approaches its next earnings release, which is expected to be March 3, 2022. In that report, analysts expect Canadian Natural Resources to post earnings of $1.58 per share. This would mark year-over-year growth of 1216.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.19 billion, up 86.76% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Canadian Natural Resources. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.99% higher. Canadian Natural Resources currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Canadian Natural Resources currently has a Forward P/E ratio of 9.24. Its industry sports an average Forward P/E of 4.92, so we one might conclude that Canadian Natural Resources is trading at a premium comparatively.
It is also worth noting that CNQ currently has a PEG ratio of 0.65. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CNQ's industry had an average PEG ratio of 0.65 as of yesterday's close.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.