CorEnergy closed the most recent trading day at $1.57, moving -0.63% from the previous trading session. This change lagged the S&P 500's 0.53% gain on the day. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 5.2%.
Heading into today, shares of the traded fund had lost 26.51% over the past month, lagging the Finance sector's gain of 0.05% and the S&P 500's gain of 0.67% in that time.
Investors will be hoping for strength from CorEnergy as it approaches its next earnings release. On that day, CorEnergy is projected to report earnings of $0.41 per share, which would represent year-over-year growth of 392.86%.
Investors might also notice recent changes to analyst estimates for CorEnergy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. CorEnergy is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that CorEnergy has a Forward P/E ratio of 0.96 right now. For comparison, its industry has an average Forward P/E of 11.86, which means CorEnergy is trading at a discount to the group.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 26% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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CorEnergy (CORR) Stock Sinks As Market Gains: What You Should Know
CorEnergy closed the most recent trading day at $1.57, moving -0.63% from the previous trading session. This change lagged the S&P 500's 0.53% gain on the day. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 5.2%.
Heading into today, shares of the traded fund had lost 26.51% over the past month, lagging the Finance sector's gain of 0.05% and the S&P 500's gain of 0.67% in that time.
Investors will be hoping for strength from CorEnergy as it approaches its next earnings release. On that day, CorEnergy is projected to report earnings of $0.41 per share, which would represent year-over-year growth of 392.86%.
Investors might also notice recent changes to analyst estimates for CorEnergy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. CorEnergy is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that CorEnergy has a Forward P/E ratio of 0.96 right now. For comparison, its industry has an average Forward P/E of 11.86, which means CorEnergy is trading at a discount to the group.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 26% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.