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Cenovus Energy (CVE) Stock Moves -0.11%: What You Should Know
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Cenovus Energy (CVE - Free Report) closed the most recent trading day at $18.60, moving -0.11% from the previous trading session. This change was narrower than the S&P 500's 2.8% loss on the day. At the same time, the Dow lost 2.11%, and the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the oil company had gained 5.02% in the past month. In that same time, the Oils-Energy sector gained 1.49%, while the S&P 500 lost 4.08%.
Investors will be hoping for strength from Cenovus Energy as it approaches its next earnings release. On that day, Cenovus Energy is projected to report earnings of $0.90 per share, which would represent year-over-year growth of 328.57%. Our most recent consensus estimate is calling for quarterly revenue of $11.22 billion, up 5.18% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.22 per share and revenue of $48.24 billion, which would represent changes of +297.53% and +28.01%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Cenovus Energy. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 5.57% lower. Cenovus Energy is currently a Zacks Rank #5 (Strong Sell).
Looking at its valuation, Cenovus Energy is holding a Forward P/E ratio of 5.78. This valuation marks a discount compared to its industry's average Forward P/E of 6.02.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cenovus Energy (CVE) Stock Moves -0.11%: What You Should Know
Cenovus Energy (CVE - Free Report) closed the most recent trading day at $18.60, moving -0.11% from the previous trading session. This change was narrower than the S&P 500's 2.8% loss on the day. At the same time, the Dow lost 2.11%, and the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the oil company had gained 5.02% in the past month. In that same time, the Oils-Energy sector gained 1.49%, while the S&P 500 lost 4.08%.
Investors will be hoping for strength from Cenovus Energy as it approaches its next earnings release. On that day, Cenovus Energy is projected to report earnings of $0.90 per share, which would represent year-over-year growth of 328.57%. Our most recent consensus estimate is calling for quarterly revenue of $11.22 billion, up 5.18% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.22 per share and revenue of $48.24 billion, which would represent changes of +297.53% and +28.01%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Cenovus Energy. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 5.57% lower. Cenovus Energy is currently a Zacks Rank #5 (Strong Sell).
Looking at its valuation, Cenovus Energy is holding a Forward P/E ratio of 5.78. This valuation marks a discount compared to its industry's average Forward P/E of 6.02.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.