Canadian Natural Resources (
CNQ Quick Quote CNQ - Free Report) closed at $45.25 in the latest trading session, marking a +1.05% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.21%. At the same time, the Dow lost 0.43%, and the tech-heavy Nasdaq gained 0.03%.
Coming into today, shares of the oil and natural gas company had lost 22.78% in the past month. In that same time, the Oils-Energy sector lost 15.96%, while the S&P 500 lost 9.7%.
Investors will be hoping for strength from Canadian Natural Resources as it approaches its next earnings release. In that report, analysts expect Canadian Natural Resources to post earnings of $2.34 per share. This would mark year-over-year growth of 65.96%. Meanwhile, our latest consensus estimate is calling for revenue of $8.4 billion, up 37.08% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.15 per share and revenue of $33.67 billion, which would represent changes of +83.37% and +40.25%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Canadian Natural Resources. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 4.93% higher. Canadian Natural Resources is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Canadian Natural Resources has a Forward P/E ratio of 4.89 right now. For comparison, its industry has an average Forward P/E of 4.31, which means Canadian Natural Resources is trading at a premium to the group.
It is also worth noting that CNQ currently has a PEG ratio of 0.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Exploration and Production - Canadian industry currently had an average PEG ratio of 0.32 as of yesterday's close.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% 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.