In the latest trading session, Centennial Resource closed at $5.88, marking a -0.34% move from the previous day. This change lagged the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the company had lost 37.63% in the past month. In that same time, the Oils-Energy sector lost 19.96%, while the S&P 500 lost 6.03%.
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%. Our most recent consensus estimate is calling for quarterly revenue of $377.22 million, up 62.19% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.06 per share and revenue of $2.06 billion, which would represent changes of +198.55% and +99.54%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Centennial Resource. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant. Centennial Resource is currently a Zacks Rank #3 (Hold).
In terms of valuation, Centennial Resource is currently trading at a Forward P/E ratio of 2.86. This represents a discount compared to its industry's average Forward P/E of 4.24.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 10, putting it in the top 4% 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.
To follow CDEV in the coming trading sessions, be sure to utilize Zacks.com.
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Centennial Resource (CDEV) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Centennial Resource closed at $5.88, marking a -0.34% move from the previous day. This change lagged the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the company had lost 37.63% in the past month. In that same time, the Oils-Energy sector lost 19.96%, while the S&P 500 lost 6.03%.
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%. Our most recent consensus estimate is calling for quarterly revenue of $377.22 million, up 62.19% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.06 per share and revenue of $2.06 billion, which would represent changes of +198.55% and +99.54%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Centennial Resource. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant. Centennial Resource is currently a Zacks Rank #3 (Hold).
In terms of valuation, Centennial Resource is currently trading at a Forward P/E ratio of 2.86. This represents a discount compared to its industry's average Forward P/E of 4.24.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 10, putting it in the top 4% 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.
To follow CDEV in the coming trading sessions, be sure to utilize Zacks.com.