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Canadian Natural Resources (CNQ) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $60.75, marking a -0.93% move from the previous day. This change lagged the S&P 500's 1.17% gain on the day. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 0.31%.
Coming into today, shares of the oil and natural gas company had gained 13.74% in the past month. In that same time, the Oils-Energy sector gained 4.63%, while the S&P 500 gained 0.88%.
Canadian Natural Resources will be looking to display strength as it nears its next earnings release. In that report, analysts expect Canadian Natural Resources to post earnings of $1.94 per share. This would mark year-over-year growth of 139.51%. Meanwhile, our latest consensus estimate is calling for revenue of $7.09 billion, up 35.83% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.91 per share and revenue of $26.33 billion. These totals would mark changes of +38.48% and +9.69%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Canadian Natural Resources. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 18.27% higher. Canadian Natural Resources is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Canadian Natural Resources has a Forward P/E ratio of 8.87 right now. For comparison, its industry has an average Forward P/E of 5.14, which means Canadian Natural Resources is trading at a premium to the group.
It is also worth noting that CNQ currently has a PEG ratio of 0.44. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - Canadian industry currently had an average PEG ratio of 0.44 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 36, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow CNQ in the coming trading sessions, be sure to utilize Zacks.com.
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Canadian Natural Resources (CNQ) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $60.75, marking a -0.93% move from the previous day. This change lagged the S&P 500's 1.17% gain on the day. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 0.31%.
Coming into today, shares of the oil and natural gas company had gained 13.74% in the past month. In that same time, the Oils-Energy sector gained 4.63%, while the S&P 500 gained 0.88%.
Canadian Natural Resources will be looking to display strength as it nears its next earnings release. In that report, analysts expect Canadian Natural Resources to post earnings of $1.94 per share. This would mark year-over-year growth of 139.51%. Meanwhile, our latest consensus estimate is calling for revenue of $7.09 billion, up 35.83% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.91 per share and revenue of $26.33 billion. These totals would mark changes of +38.48% and +9.69%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Canadian Natural Resources. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 18.27% higher. Canadian Natural Resources is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Canadian Natural Resources has a Forward P/E ratio of 8.87 right now. For comparison, its industry has an average Forward P/E of 5.14, which means Canadian Natural Resources is trading at a premium to the group.
It is also worth noting that CNQ currently has a PEG ratio of 0.44. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - Canadian industry currently had an average PEG ratio of 0.44 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 36, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow CNQ in the coming trading sessions, be sure to utilize Zacks.com.