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Crescent Energy (CRGY) Ascends While Market Falls: Some Facts to Note
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The latest trading session saw Crescent Energy (CRGY - Free Report) ending at $11.82, denoting a +0.42% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.5%. On the other hand, the Dow registered a gain of 0.5%, and the technology-centric Nasdaq decreased by 1.28%.
Heading into today, shares of the oil and gas company had lost 0.42% over the past month, outpacing the Oils-Energy sector's loss of 10.92% and lagging the S&P 500's gain of 0.1% in that time.
Investors will be eagerly watching for the performance of Crescent Energy in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 5, 2024. The company's upcoming EPS is projected at $0.26, signifying a 73.33% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $611.25 million, showing a 24.15% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.67 per share and revenue of $2.91 billion, indicating changes of -42.61% and +22.21%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Crescent Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 an 8.73% fall in the Zacks Consensus EPS estimate. Currently, Crescent Energy is carrying a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Crescent Energy is currently being traded at a Forward P/E ratio of 7.03. This represents a discount compared to its industry's average Forward P/E of 22.44.
The Alternative Energy - Other industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 205, this industry ranks in the bottom 19% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Crescent Energy (CRGY) Ascends While Market Falls: Some Facts to Note
The latest trading session saw Crescent Energy (CRGY - Free Report) ending at $11.82, denoting a +0.42% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.5%. On the other hand, the Dow registered a gain of 0.5%, and the technology-centric Nasdaq decreased by 1.28%.
Heading into today, shares of the oil and gas company had lost 0.42% over the past month, outpacing the Oils-Energy sector's loss of 10.92% and lagging the S&P 500's gain of 0.1% in that time.
Investors will be eagerly watching for the performance of Crescent Energy in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 5, 2024. The company's upcoming EPS is projected at $0.26, signifying a 73.33% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $611.25 million, showing a 24.15% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.67 per share and revenue of $2.91 billion, indicating changes of -42.61% and +22.21%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Crescent Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 an 8.73% fall in the Zacks Consensus EPS estimate. Currently, Crescent Energy is carrying a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Crescent Energy is currently being traded at a Forward P/E ratio of 7.03. This represents a discount compared to its industry's average Forward P/E of 22.44.
The Alternative Energy - Other industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 205, this industry ranks in the bottom 19% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.