Crescent Point Energy Corp. is set to release second-quarter results on Jul 27. The current Zacks Consensus Estimate for the to-be-reported quarter is a profit of 43 cents per share.
Let’s delve into the factors that might have influenced the energy explorer’s results in the June quarter.
Trend in Estimate Revision & Surprise History
The Zacks Consensus Estimate for the second-quarter bottom line has remained the same in the last seven days. The estimated figure indicates a 168.8% improvement year over year.
Crescent Point missed the Zacks Consensus Estimate for earnings in three of the last four quarters, resulting in an earnings surprise of -17.2%, on average. This is depicted in the graph below:
What Does Our Model Say?
The proven Zacks model does not conclusively show that Crescent Point is likely to beat estimates in the second quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. But that’s not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: CPG has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at 43 cents per share each.
Zacks Rank: Crescent Point currently carries a Zacks Rank #5 (Strong Sell).
Stocks to Consider
While an earnings beat looks uncertain for Crescent Point, here are some firms from the energy space that you may want to consider on the basis of our model:
Range Resources Corporation (RRC - Free Report) has an Earnings ESP of +11.56% and a Zacks Rank #1. The firm is scheduled to release earnings on Jul 25.
You can see the complete list of today’s Zacks #1 Rank stocks here.
RRC is valued at around $7.5 billion. The Zacks Consensus Estimate for the company’s 2022 earnings has been revised 9.1% upward over the past 60 days. Range Resources has surged around 82.4% in a year.
Liberty Energy Inc. (LBRT - Free Report) has an Earnings ESP of +46.25% and a Zacks Rank #2. The firm is scheduled to release earnings on Jul 25.
For 2022, LBRT has a projected earnings growth rate of 170.6%. Valued at around $2.3 billion, Liberty Energy has gained around 3.7% in a year.
Schlumberger Limited (SLB - Free Report) has an Earnings ESP of +1.15% and a Zacks Rank #2. The firm is scheduled to release earnings on Jul 22.
SLB topped the Zacks Consensus Estimate by an average of 6.7% in the trailing four quarters, including a 6.3% beat in Q1. Schlumberger has gained some 20.4% in a year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Crescent Point Energy Corp. is set to release second-quarter results on Jul 27. The current Zacks Consensus Estimate for the to-be-reported quarter is a profit of 43 cents per share.
Let’s delve into the factors that might have influenced the energy explorer’s results in the June quarter.
Trend in Estimate Revision & Surprise History
The Zacks Consensus Estimate for the second-quarter bottom line has remained the same in the last seven days. The estimated figure indicates a 168.8% improvement year over year.
Crescent Point missed the Zacks Consensus Estimate for earnings in three of the last four quarters, resulting in an earnings surprise of -17.2%, on average. This is depicted in the graph below:
What Does Our Model Say?
The proven Zacks model does not conclusively show that Crescent Point is likely to beat estimates in the second quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. But that’s not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: CPG has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at 43 cents per share each.
Zacks Rank: Crescent Point currently carries a Zacks Rank #5 (Strong Sell).
Stocks to Consider
While an earnings beat looks uncertain for Crescent Point, here are some firms from the energy space that you may want to consider on the basis of our model:
Range Resources Corporation (RRC - Free Report) has an Earnings ESP of +11.56% and a Zacks Rank #1. The firm is scheduled to release earnings on Jul 25.
You can see the complete list of today’s Zacks #1 Rank stocks here.
RRC is valued at around $7.5 billion. The Zacks Consensus Estimate for the company’s 2022 earnings has been revised 9.1% upward over the past 60 days. Range Resources has surged around 82.4% in a year.
Liberty Energy Inc. (LBRT - Free Report) has an Earnings ESP of +46.25% and a Zacks Rank #2. The firm is scheduled to release earnings on Jul 25.
For 2022, LBRT has a projected earnings growth rate of 170.6%. Valued at around $2.3 billion, Liberty Energy has gained around 3.7% in a year.
Schlumberger Limited (SLB - Free Report) has an Earnings ESP of +1.15% and a Zacks Rank #2. The firm is scheduled to release earnings on Jul 22.
SLB topped the Zacks Consensus Estimate by an average of 6.7% in the trailing four quarters, including a 6.3% beat in Q1. Schlumberger has gained some 20.4% in a year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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