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Canadian Natural Resources (CNQ) Stock Sinks As Market Gains: What You Should Know
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Canadian Natural Resources (CNQ - Free Report) closed at $66.93 in the latest trading session, marking a -0.39% move from the prior day. This change lagged the S&P 500's daily gain of 1.61%. Meanwhile, the Dow gained 1.45%, and the Nasdaq, a tech-heavy index, added 0.36%.
Prior to today's trading, shares of the oil and natural gas company had gained 7.38% over the past month. This has lagged the Oils-Energy sector's gain of 9.22% and outpaced the S&P 500's loss of 1.42% 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 $1.88, up 132.1% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.12 billion, up 36.53% from the year-ago period.
CNQ's full-year Zacks Consensus Estimates are calling for earnings of $7.07 per share and revenue of $27.36 billion. These results would represent year-over-year changes of +41.68% and +14%, respectively.
It is also important to note the recent changes to analyst estimates for Canadian Natural Resources. Recent revisions tend to reflect the latest 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. 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 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. The Zacks Consensus EPS estimate has moved 4.74% higher within the past month. Canadian Natural Resources is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Canadian Natural Resources is currently trading at a Forward P/E ratio of 9.51. For comparison, its industry has an average Forward P/E of 5.42, which means Canadian Natural Resources is trading at a premium to the group.
Investors should also note that CNQ has a PEG ratio of 0.47 right now. 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 0.47 at yesterday's closing price.
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 49, which puts it in the top 20% 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
Canadian Natural Resources (CNQ - Free Report) closed at $66.93 in the latest trading session, marking a -0.39% move from the prior day. This change lagged the S&P 500's daily gain of 1.61%. Meanwhile, the Dow gained 1.45%, and the Nasdaq, a tech-heavy index, added 0.36%.
Prior to today's trading, shares of the oil and natural gas company had gained 7.38% over the past month. This has lagged the Oils-Energy sector's gain of 9.22% and outpaced the S&P 500's loss of 1.42% 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 $1.88, up 132.1% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.12 billion, up 36.53% from the year-ago period.
CNQ's full-year Zacks Consensus Estimates are calling for earnings of $7.07 per share and revenue of $27.36 billion. These results would represent year-over-year changes of +41.68% and +14%, respectively.
It is also important to note the recent changes to analyst estimates for Canadian Natural Resources. Recent revisions tend to reflect the latest 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. 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 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. The Zacks Consensus EPS estimate has moved 4.74% higher within the past month. Canadian Natural Resources is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Canadian Natural Resources is currently trading at a Forward P/E ratio of 9.51. For comparison, its industry has an average Forward P/E of 5.42, which means Canadian Natural Resources is trading at a premium to the group.
Investors should also note that CNQ has a PEG ratio of 0.47 right now. 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 0.47 at yesterday's closing price.
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 49, which puts it in the top 20% 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.