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Canadian Natural Resources (CNQ) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $52.43, marking a -0.68% move from the previous day. This move lagged the S&P 500's daily loss of 0.33%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.27%.
Prior to today's trading, shares of the oil and natural gas company had lost 3.69% over the past month. This has was narrower than the Oils-Energy sector's loss of 3.77% and the S&P 500's loss of 11.67% in that time.
Canadian Natural Resources will be looking to display strength as it nears its next earnings release. In that report, analysts expect Canadian Natural Resources to post earnings of $2.06 per share. This would mark year-over-year growth of 46.1%. Our most recent consensus estimate is calling for quarterly revenue of $8.15 billion, up 33.07% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.82 per share and revenue of $32.7 billion. These totals would mark changes of +76.75% and +36.2%, respectively, from last year.
Any recent changes to analyst estimates for Canadian Natural Resources should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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. The Zacks Consensus EPS estimate has moved 1.09% higher within the past month. Canadian Natural Resources is currently a Zacks Rank #3 (Hold).
Digging into valuation, Canadian Natural Resources currently has a Forward P/E ratio of 5.99. This valuation marks a premium compared to its industry's average Forward P/E of 5.6.
Meanwhile, CNQ's PEG ratio is currently 0.66. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - Canadian was holding an average PEG ratio of 0.39 at yesterday's closing price.
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 189, which puts it in the bottom 25% 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $52.43, marking a -0.68% move from the previous day. This move lagged the S&P 500's daily loss of 0.33%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.27%.
Prior to today's trading, shares of the oil and natural gas company had lost 3.69% over the past month. This has was narrower than the Oils-Energy sector's loss of 3.77% and the S&P 500's loss of 11.67% in that time.
Canadian Natural Resources will be looking to display strength as it nears its next earnings release. In that report, analysts expect Canadian Natural Resources to post earnings of $2.06 per share. This would mark year-over-year growth of 46.1%. Our most recent consensus estimate is calling for quarterly revenue of $8.15 billion, up 33.07% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.82 per share and revenue of $32.7 billion. These totals would mark changes of +76.75% and +36.2%, respectively, from last year.
Any recent changes to analyst estimates for Canadian Natural Resources should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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. The Zacks Consensus EPS estimate has moved 1.09% higher within the past month. Canadian Natural Resources is currently a Zacks Rank #3 (Hold).
Digging into valuation, Canadian Natural Resources currently has a Forward P/E ratio of 5.99. This valuation marks a premium compared to its industry's average Forward P/E of 5.6.
Meanwhile, CNQ's PEG ratio is currently 0.66. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - Canadian was holding an average PEG ratio of 0.39 at yesterday's closing price.
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 189, which puts it in the bottom 25% 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.