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Cenovus Energy (CVE) Gains As Market Dips: What You Should Know
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Cenovus Energy (CVE - Free Report) closed the most recent trading day at $19.41, moving +0.57% from the previous trading session. This change outpaced the S&P 500's 0.25% loss on the day. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 5.91%.
Coming into today, shares of the oil company had lost 1.78% in the past month. In that same time, the Oils-Energy sector lost 3.48%, while the S&P 500 lost 2.59%.
Cenovus Energy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.66, up 53.49% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.75 billion, down 10.43% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.72 per share and revenue of $48.9 billion. These totals would mark changes of +235.8% and +29.76%, respectively, from last year.
Any recent changes to analyst estimates for Cenovus Energy 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Within the past 30 days, our consensus EPS projection has moved 7.17% lower. Cenovus Energy is currently a Zacks Rank #5 (Strong Sell).
Investors should also note Cenovus Energy's current valuation metrics, including its Forward P/E ratio of 7.1. This represents a premium compared to its industry's average Forward P/E of 6.64.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 212, putting 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cenovus Energy (CVE) Gains As Market Dips: What You Should Know
Cenovus Energy (CVE - Free Report) closed the most recent trading day at $19.41, moving +0.57% from the previous trading session. This change outpaced the S&P 500's 0.25% loss on the day. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 5.91%.
Coming into today, shares of the oil company had lost 1.78% in the past month. In that same time, the Oils-Energy sector lost 3.48%, while the S&P 500 lost 2.59%.
Cenovus Energy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.66, up 53.49% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.75 billion, down 10.43% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.72 per share and revenue of $48.9 billion. These totals would mark changes of +235.8% and +29.76%, respectively, from last year.
Any recent changes to analyst estimates for Cenovus Energy 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Within the past 30 days, our consensus EPS projection has moved 7.17% lower. Cenovus Energy is currently a Zacks Rank #5 (Strong Sell).
Investors should also note Cenovus Energy's current valuation metrics, including its Forward P/E ratio of 7.1. This represents a premium compared to its industry's average Forward P/E of 6.64.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 212, putting 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.
You can find more information on all of these metrics, and much more, on Zacks.com.