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Canadian Natural Resources (CNQ) Gains As Market Dips: What You Should Know
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Canadian Natural Resources (CNQ - Free Report) closed at $60.13 in the latest trading session, marking a +1.26% move from the prior day. This move outpaced the S&P 500's daily loss of 0.74%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Prior to today's trading, shares of the oil and natural gas company had gained 31.23% over the past month. This has outpaced the Oils-Energy sector's gain of 16.17% and the S&P 500's gain of 4.58% 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 $2.09 per share, which would represent year-over-year growth of 48.23%. Our most recent consensus estimate is calling for quarterly revenue of $7.98 billion, up 30.25% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.77 per share and revenue of $32.24 billion. These totals would mark changes of +75.75% and +34.29%, respectively, from last year.
Any recent changes to analyst estimates for Canadian Natural Resources should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 4.12% lower within the past month. Canadian Natural Resources is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Canadian Natural Resources's current valuation metrics, including its Forward P/E ratio of 6.77. Its industry sports an average Forward P/E of 5.89, so we one might conclude that Canadian Natural Resources is trading at a premium comparatively.
Meanwhile, CNQ's PEG ratio is currently 0.56. 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. Oil and Gas - Exploration and Production - Canadian stocks are, on average, holding a PEG ratio of 0.35 based on yesterday's closing prices.
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 213, which puts it in the bottom 16% 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) Gains As Market Dips: What You Should Know
Canadian Natural Resources (CNQ - Free Report) closed at $60.13 in the latest trading session, marking a +1.26% move from the prior day. This move outpaced the S&P 500's daily loss of 0.74%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Prior to today's trading, shares of the oil and natural gas company had gained 31.23% over the past month. This has outpaced the Oils-Energy sector's gain of 16.17% and the S&P 500's gain of 4.58% 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 $2.09 per share, which would represent year-over-year growth of 48.23%. Our most recent consensus estimate is calling for quarterly revenue of $7.98 billion, up 30.25% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.77 per share and revenue of $32.24 billion. These totals would mark changes of +75.75% and +34.29%, respectively, from last year.
Any recent changes to analyst estimates for Canadian Natural Resources should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 4.12% lower within the past month. Canadian Natural Resources is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Canadian Natural Resources's current valuation metrics, including its Forward P/E ratio of 6.77. Its industry sports an average Forward P/E of 5.89, so we one might conclude that Canadian Natural Resources is trading at a premium comparatively.
Meanwhile, CNQ's PEG ratio is currently 0.56. 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. Oil and Gas - Exploration and Production - Canadian stocks are, on average, holding a PEG ratio of 0.35 based on yesterday's closing prices.
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 213, which puts it in the bottom 16% 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.