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Canadian Natural Resources (CNQ) Dips More Than Broader Markets: What You Should Know
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Canadian Natural Resources (CNQ - Free Report) closed the most recent trading day at $56.42, moving -1.62% from the previous trading session. This change lagged the S&P 500's 1.45% loss on the day. At the same time, the Dow lost 1.07%, and the tech-heavy Nasdaq lost 3.06%.
Prior to today's trading, shares of the oil and natural gas company had lost 2.66% over the past month. This has lagged the Oils-Energy sector's loss of 2.63% and was narrower than the S&P 500's loss of 3.83% in that time.
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 $1.76 per share. This would mark a year-over-year decline of 22.12%. Our most recent consensus estimate is calling for quarterly revenue of $7.36 billion, down 12.66% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.34 per share and revenue of $26.19 billion, which would represent changes of -26.36% and -19.61%, respectively, from the prior year.
Any recent changes to analyst estimates for Canadian Natural Resources 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. The Zacks Consensus EPS estimate has moved 1.89% lower within the past month. Canadian Natural Resources is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Canadian Natural Resources is holding a Forward P/E ratio of 9.05. Its industry sports an average Forward P/E of 6, so we one might conclude that Canadian Natural Resources is trading at a premium comparatively.
We can also see that CNQ currently has a PEG ratio of 0.73. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Exploration and Production - Canadian was holding an average PEG ratio of 0.47 at yesterday's closing price.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 221, putting it in the bottom 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Canadian Natural Resources (CNQ) Dips More Than Broader Markets: What You Should Know
Canadian Natural Resources (CNQ - Free Report) closed the most recent trading day at $56.42, moving -1.62% from the previous trading session. This change lagged the S&P 500's 1.45% loss on the day. At the same time, the Dow lost 1.07%, and the tech-heavy Nasdaq lost 3.06%.
Prior to today's trading, shares of the oil and natural gas company had lost 2.66% over the past month. This has lagged the Oils-Energy sector's loss of 2.63% and was narrower than the S&P 500's loss of 3.83% in that time.
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 $1.76 per share. This would mark a year-over-year decline of 22.12%. Our most recent consensus estimate is calling for quarterly revenue of $7.36 billion, down 12.66% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.34 per share and revenue of $26.19 billion, which would represent changes of -26.36% and -19.61%, respectively, from the prior year.
Any recent changes to analyst estimates for Canadian Natural Resources 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. The Zacks Consensus EPS estimate has moved 1.89% lower within the past month. Canadian Natural Resources is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Canadian Natural Resources is holding a Forward P/E ratio of 9.05. Its industry sports an average Forward P/E of 6, so we one might conclude that Canadian Natural Resources is trading at a premium comparatively.
We can also see that CNQ currently has a PEG ratio of 0.73. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Exploration and Production - Canadian was holding an average PEG ratio of 0.47 at yesterday's closing price.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 221, putting it in the bottom 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.