In the latest trading session, Centennial Resource closed at $9.46, marking a +0.96% move from the previous day. The stock outpaced the S&P 500's daily loss of 2.38%. At the same time, the Dow lost 1.94%, and the tech-heavy Nasdaq lost 0.64%.
Heading into today, shares of the company had gained 31.97% over the past month, outpacing the Oils-Energy sector's gain of 10.37% and the S&P 500's loss of 0.07% in that time.
Investors will be hoping for strength from Centennial Resource as it approaches its next earnings release. In that report, analysts expect Centennial Resource to post earnings of $0.42 per share. This would mark year-over-year growth of 2000%. Meanwhile, our latest consensus estimate is calling for revenue of $377.22 million, up 62.19% from the prior-year quarter.
CDEV's full-year Zacks Consensus Estimates are calling for earnings of $2.06 per share and revenue of $2.06 billion. These results would represent year-over-year changes of +198.55% and +99.54%, respectively.
Any recent changes to analyst estimates for Centennial Resource should also be noted by investors. 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.
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. The Zacks Consensus EPS estimate has moved 0.95% higher within the past month. Centennial Resource is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Centennial Resource's current valuation metrics, including its Forward P/E ratio of 4.54. Its industry sports an average Forward P/E of 6.07, so we one might conclude that Centennial Resource is trading at a discount comparatively.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 16, which puts it in the top 7% 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.
Image: Bigstock
Centennial Resource (CDEV) Gains As Market Dips: What You Should Know
In the latest trading session, Centennial Resource closed at $9.46, marking a +0.96% move from the previous day. The stock outpaced the S&P 500's daily loss of 2.38%. At the same time, the Dow lost 1.94%, and the tech-heavy Nasdaq lost 0.64%.
Heading into today, shares of the company had gained 31.97% over the past month, outpacing the Oils-Energy sector's gain of 10.37% and the S&P 500's loss of 0.07% in that time.
Investors will be hoping for strength from Centennial Resource as it approaches its next earnings release. In that report, analysts expect Centennial Resource to post earnings of $0.42 per share. This would mark year-over-year growth of 2000%. Meanwhile, our latest consensus estimate is calling for revenue of $377.22 million, up 62.19% from the prior-year quarter.
CDEV's full-year Zacks Consensus Estimates are calling for earnings of $2.06 per share and revenue of $2.06 billion. These results would represent year-over-year changes of +198.55% and +99.54%, respectively.
Any recent changes to analyst estimates for Centennial Resource should also be noted by investors. 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.
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. The Zacks Consensus EPS estimate has moved 0.95% higher within the past month. Centennial Resource is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Centennial Resource's current valuation metrics, including its Forward P/E ratio of 4.54. Its industry sports an average Forward P/E of 6.07, so we one might conclude that Centennial Resource is trading at a discount comparatively.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 16, which puts it in the top 7% 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.