In the latest trading session, CorEnergy closed at $2.17, marking a +1.88% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.2%. Meanwhile, the Dow lost 1.14%, and the Nasdaq, a tech-heavy index, added 1.39%.
Prior to today's trading, shares of the traded fund had lost 8.58% over the past month. This has lagged the Finance sector's gain of 7.8% and the S&P 500's gain of 4.01% 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%.
Any recent changes to analyst estimates for CorEnergy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. CorEnergy currently has a Zacks Rank of #3 (Hold).
Digging into valuation, CorEnergy currently has a Forward P/E ratio of 1.29. For comparison, its industry has an average Forward P/E of 12.11, 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 group has a Zacks Industry Rank of 198, putting it in the bottom 22% 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 CORR in the coming trading sessions, be sure to utilize Zacks.com.
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CorEnergy (CORR) Gains As Market Dips: What You Should Know
In the latest trading session, CorEnergy closed at $2.17, marking a +1.88% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.2%. Meanwhile, the Dow lost 1.14%, and the Nasdaq, a tech-heavy index, added 1.39%.
Prior to today's trading, shares of the traded fund had lost 8.58% over the past month. This has lagged the Finance sector's gain of 7.8% and the S&P 500's gain of 4.01% 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%.
Any recent changes to analyst estimates for CorEnergy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. CorEnergy currently has a Zacks Rank of #3 (Hold).
Digging into valuation, CorEnergy currently has a Forward P/E ratio of 1.29. For comparison, its industry has an average Forward P/E of 12.11, 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 group has a Zacks Industry Rank of 198, putting it in the bottom 22% 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 CORR in the coming trading sessions, be sure to utilize Zacks.com.