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Canadian Natural Resources (CNQ) Gains As Market Dips: What You Should Know
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In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $60.89, marking a +1.11% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.3%. Elsewhere, the Dow lost 0.69%, while the tech-heavy Nasdaq lost 0.37%.
Prior to today's trading, shares of the oil and natural gas company had gained 16.61% over the past month. This has outpaced the Oils-Energy sector's gain of 7.26% and the S&P 500's loss of 5.33% in that time.
Investors will be hoping for strength from Canadian Natural Resources as it approaches its next earnings release. The company is expected to report EPS of $1.83, up 125.93% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.84 billion, up 31.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.51 per share and revenue of $25.2 billion. These totals would mark changes of +30.46% and +5%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Canadian Natural Resources. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 18.9% higher. Canadian Natural Resources currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Canadian Natural Resources is currently trading at a Forward P/E ratio of 9.25. For comparison, its industry has an average Forward P/E of 5.19, which means Canadian Natural Resources is trading at a premium to the group.
We can also see that CNQ currently has a PEG ratio of 0.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Exploration and Production - Canadian industry currently had an average PEG ratio of 0.46 as of yesterday's close.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 57, putting it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks 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.
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Canadian Natural Resources (CNQ) Gains As Market Dips: What You Should Know
In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $60.89, marking a +1.11% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.3%. Elsewhere, the Dow lost 0.69%, while the tech-heavy Nasdaq lost 0.37%.
Prior to today's trading, shares of the oil and natural gas company had gained 16.61% over the past month. This has outpaced the Oils-Energy sector's gain of 7.26% and the S&P 500's loss of 5.33% in that time.
Investors will be hoping for strength from Canadian Natural Resources as it approaches its next earnings release. The company is expected to report EPS of $1.83, up 125.93% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.84 billion, up 31.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.51 per share and revenue of $25.2 billion. These totals would mark changes of +30.46% and +5%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Canadian Natural Resources. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 18.9% higher. Canadian Natural Resources currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Canadian Natural Resources is currently trading at a Forward P/E ratio of 9.25. For comparison, its industry has an average Forward P/E of 5.19, which means Canadian Natural Resources is trading at a premium to the group.
We can also see that CNQ currently has a PEG ratio of 0.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Exploration and Production - Canadian industry currently had an average PEG ratio of 0.46 as of yesterday's close.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 57, putting it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks 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.