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Canadian Natural Resources (CNQ) Stock Moves -1.18%: What You Should Know
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In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $61.98, marking a -1.18% move from the previous day. This change was narrower than the S&P 500's 1.57% loss on the day. Elsewhere, the Dow lost 1.56%, while the tech-heavy Nasdaq lost 0.09%.
Heading into today, shares of the oil and natural gas company had gained 8.85% over the past month, lagging the Oils-Energy sector's gain of 9.41% and outpacing the S&P 500's gain of 5.37% 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 $1.92, up 137.04% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.09 billion, up 35.83% from the prior-year quarter.
CNQ's full-year Zacks Consensus Estimates are calling for earnings of $6.75 per share and revenue of $26.33 billion. These results would represent year-over-year changes of +35.27% and +9.69%, respectively.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 15.49% higher. Canadian Natural Resources is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Canadian Natural Resources currently has a Forward P/E ratio of 9.3. Its industry sports an average Forward P/E of 5.61, 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 0.46. 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 was holding an average PEG ratio of 0.46 at yesterday's closing price.
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 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) Stock Moves -1.18%: What You Should Know
In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $61.98, marking a -1.18% move from the previous day. This change was narrower than the S&P 500's 1.57% loss on the day. Elsewhere, the Dow lost 1.56%, while the tech-heavy Nasdaq lost 0.09%.
Heading into today, shares of the oil and natural gas company had gained 8.85% over the past month, lagging the Oils-Energy sector's gain of 9.41% and outpacing the S&P 500's gain of 5.37% 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 $1.92, up 137.04% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.09 billion, up 35.83% from the prior-year quarter.
CNQ's full-year Zacks Consensus Estimates are calling for earnings of $6.75 per share and revenue of $26.33 billion. These results would represent year-over-year changes of +35.27% and +9.69%, respectively.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 15.49% higher. Canadian Natural Resources is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Canadian Natural Resources currently has a Forward P/E ratio of 9.3. Its industry sports an average Forward P/E of 5.61, 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 0.46. 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 was holding an average PEG ratio of 0.46 at yesterday's closing price.
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 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.