Centennial Resource closed at $6.30 in the latest trading session, marking a -1.72% move from the prior day. This move lagged the S&P 500's daily gain of 3.06%. Meanwhile, the Dow gained 2.68%, and the Nasdaq, a tech-heavy index, lost 0.08%.
Prior to today's trading, shares of the company had lost 13.26% over the past month. This has lagged the Oils-Energy sector's loss of 12.66% and the S&P 500's loss of 4.31% in that time.
Investors will be hoping for strength from Centennial Resource as it approaches its next earnings release. The company is expected to report EPS of $0.42, up 2000% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $377.22 million, up 62.19% from the year-ago period.
CDEV's full-year Zacks Consensus Estimates are calling for earnings of $2.06 per share and revenue of $2.06 billion. These results would represent year-over-year changes of +198.55% and +99.54%, respectively.
Investors should also note any recent changes to analyst estimates for Centennial Resource. These revisions help to show the ever-changing nature 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, the Zacks Consensus EPS estimate has moved 5.81% higher. Centennial Resource is currently a Zacks Rank #3 (Hold).
Digging into valuation, Centennial Resource currently has a Forward P/E ratio of 3.11. This represents a discount compared to its industry's average Forward P/E of 4.23.
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 48, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
Image: Bigstock
Centennial Resource (CDEV) Stock Sinks As Market Gains: What You Should Know
Centennial Resource closed at $6.30 in the latest trading session, marking a -1.72% move from the prior day. This move lagged the S&P 500's daily gain of 3.06%. Meanwhile, the Dow gained 2.68%, and the Nasdaq, a tech-heavy index, lost 0.08%.
Prior to today's trading, shares of the company had lost 13.26% over the past month. This has lagged the Oils-Energy sector's loss of 12.66% and the S&P 500's loss of 4.31% in that time.
Investors will be hoping for strength from Centennial Resource as it approaches its next earnings release. The company is expected to report EPS of $0.42, up 2000% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $377.22 million, up 62.19% from the year-ago period.
CDEV's full-year Zacks Consensus Estimates are calling for earnings of $2.06 per share and revenue of $2.06 billion. These results would represent year-over-year changes of +198.55% and +99.54%, respectively.
Investors should also note any recent changes to analyst estimates for Centennial Resource. These revisions help to show the ever-changing nature 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, the Zacks Consensus EPS estimate has moved 5.81% higher. Centennial Resource is currently a Zacks Rank #3 (Hold).
Digging into valuation, Centennial Resource currently has a Forward P/E ratio of 3.11. This represents a discount compared to its industry's average Forward P/E of 4.23.
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 48, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.