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Coterra Energy (CTRA) Falls More Steeply Than Broader Market: What Investors Need to Know
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In the latest market close, Coterra Energy (CTRA - Free Report) reached $28.40, with a -1.83% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.17%. Elsewhere, the Dow saw a downswing of 0.58%, while the tech-heavy Nasdaq appreciated by 0.27%.
Heading into today, shares of the independent oil and gas company had gained 11.06% over the past month, outpacing the Oils-Energy sector's loss of 0.51% and the S&P 500's loss of 3.95% in that time.
Investors will be eagerly watching for the performance of Coterra Energy in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 6, 2023. It is anticipated that the company will report an EPS of $0.44, marking a 69.01% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.38 billion, indicating a 45.33% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $2.28 per share and a revenue of $5.9 billion, demonstrating changes of -53.85% and -34.78%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Coterra Energy. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the past month, there's been a 0.8% rise in the Zacks Consensus EPS estimate. At present, Coterra Energy boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Coterra Energy is currently being traded at a Forward P/E ratio of 12.66. This signifies a premium in comparison to the average Forward P/E of 9.86 for its industry.
Meanwhile, CTRA's PEG ratio is currently 0.23. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.45 as of yesterday's close.
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 16, putting it in the top 7% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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Coterra Energy (CTRA) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest market close, Coterra Energy (CTRA - Free Report) reached $28.40, with a -1.83% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.17%. Elsewhere, the Dow saw a downswing of 0.58%, while the tech-heavy Nasdaq appreciated by 0.27%.
Heading into today, shares of the independent oil and gas company had gained 11.06% over the past month, outpacing the Oils-Energy sector's loss of 0.51% and the S&P 500's loss of 3.95% in that time.
Investors will be eagerly watching for the performance of Coterra Energy in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 6, 2023. It is anticipated that the company will report an EPS of $0.44, marking a 69.01% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.38 billion, indicating a 45.33% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $2.28 per share and a revenue of $5.9 billion, demonstrating changes of -53.85% and -34.78%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Coterra Energy. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the past month, there's been a 0.8% rise in the Zacks Consensus EPS estimate. At present, Coterra Energy boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Coterra Energy is currently being traded at a Forward P/E ratio of 12.66. This signifies a premium in comparison to the average Forward P/E of 9.86 for its industry.
Meanwhile, CTRA's PEG ratio is currently 0.23. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.45 as of yesterday's close.
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 16, putting it in the top 7% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.