In the latest trading session, CorEnergy closed at $1.54, marking a -1.28% move from the previous day. This change lagged the S&P 500's 0.76% gain on the day. At the same time, the Dow added 1.05%, and the tech-heavy Nasdaq lost 0.98%.
Coming into today, shares of the traded fund had lost 28.11% in the past month. In that same time, the Finance sector lost 3.34%, while the S&P 500 lost 3.91%.
CorEnergy will be looking to display strength as it nears its next earnings release, which is expected to be March 7, 2023. The company is expected to report EPS of $0.41, up 392.86% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for CorEnergy. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% 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 0.95 right now. For comparison, its industry has an average Forward P/E of 11.75, 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 194, putting it in the bottom 24% 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, CorEnergy closed at $1.54, marking a -1.28% move from the previous day. This change lagged the S&P 500's 0.76% gain on the day. At the same time, the Dow added 1.05%, and the tech-heavy Nasdaq lost 0.98%.
Coming into today, shares of the traded fund had lost 28.11% in the past month. In that same time, the Finance sector lost 3.34%, while the S&P 500 lost 3.91%.
CorEnergy will be looking to display strength as it nears its next earnings release, which is expected to be March 7, 2023. The company is expected to report EPS of $0.41, up 392.86% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for CorEnergy. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% 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 0.95 right now. For comparison, its industry has an average Forward P/E of 11.75, 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 194, putting it in the bottom 24% 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.