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Canadian Natural Resources (CNQ) Stock Moves -1.14%: What You Should Know
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In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $60.64, marking a -1.14% move from the previous day. This move was narrower than the S&P 500's daily loss of 2.82%. Meanwhile, the Dow lost 2.38%, and the Nasdaq, a tech-heavy index, lost 0.23%.
Prior to today's trading, shares of the oil and natural gas company had lost 1.51% over the past month. This has was narrower than the Oils-Energy sector's loss of 6.31% and the S&P 500's loss of 5.33% in that time.
Wall Street will be looking for positivity from Canadian Natural Resources as it approaches its next earnings report date. On that day, Canadian Natural Resources is projected to report earnings of $1.87 per share, which would represent year-over-year growth of 130.86%. Meanwhile, our latest consensus estimate is calling for revenue of $7.12 billion, up 36.53% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.70 per share and revenue of $27.36 billion, which would represent changes of +54.31% and +14%, respectively, from the prior year.
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 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, 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 14.04% higher. Canadian Natural Resources is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Canadian Natural Resources's current valuation metrics, including its Forward P/E ratio of 7.97. This valuation marks a premium compared to its industry's average Forward P/E of 4.7.
Also, we should mention that CNQ has a PEG ratio of 0.42. 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. CNQ's industry had an average PEG ratio of 0.42 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 14, putting it in the top 6% 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) Stock Moves -1.14%: What You Should Know
In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $60.64, marking a -1.14% move from the previous day. This move was narrower than the S&P 500's daily loss of 2.82%. Meanwhile, the Dow lost 2.38%, and the Nasdaq, a tech-heavy index, lost 0.23%.
Prior to today's trading, shares of the oil and natural gas company had lost 1.51% over the past month. This has was narrower than the Oils-Energy sector's loss of 6.31% and the S&P 500's loss of 5.33% in that time.
Wall Street will be looking for positivity from Canadian Natural Resources as it approaches its next earnings report date. On that day, Canadian Natural Resources is projected to report earnings of $1.87 per share, which would represent year-over-year growth of 130.86%. Meanwhile, our latest consensus estimate is calling for revenue of $7.12 billion, up 36.53% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.70 per share and revenue of $27.36 billion, which would represent changes of +54.31% and +14%, respectively, from the prior year.
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 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, 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 14.04% higher. Canadian Natural Resources is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Canadian Natural Resources's current valuation metrics, including its Forward P/E ratio of 7.97. This valuation marks a premium compared to its industry's average Forward P/E of 4.7.
Also, we should mention that CNQ has a PEG ratio of 0.42. 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. CNQ's industry had an average PEG ratio of 0.42 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 14, putting it in the top 6% 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.