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Canadian Natural Resources (CNQ) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $54.54, marking a +1.47% move from the previous day. This change outpaced the S&P 500's 1.42% gain on the day. Meanwhile, the Dow gained 1%, and the Nasdaq, a tech-heavy index, added 5.16%.
Coming into today, shares of the oil and natural gas company had lost 4.88% in the past month. In that same time, the Oils-Energy sector lost 4.02%, while the S&P 500 gained 0.27%.
Investors will be hoping for strength from Canadian Natural Resources as it approaches its next earnings release. On that day, Canadian Natural Resources is projected to report earnings of $1.35 per share, which would represent a year-over-year decline of 40.27%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.76 billion, down 19.83% from the year-ago period.
CNQ's full-year Zacks Consensus Estimates are calling for earnings of $5.76 per share and revenue of $25.29 billion. These results would represent year-over-year changes of -33.1% and -22.35%, respectively.
It is also important to note the recent changes to analyst estimates for Canadian Natural Resources. Recent revisions tend to reflect the latest 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.
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 10.39% lower within the past month. Canadian Natural Resources currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Canadian Natural Resources is holding a Forward P/E ratio of 9.33. For comparison, its industry has an average Forward P/E of 6.02, which means Canadian Natural Resources is trading at a premium to the group.
Investors should also note that CNQ has a PEG ratio of 0.76 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - Canadian was holding an average PEG ratio of 0.48 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 223, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Canadian Natural Resources (CNQ) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $54.54, marking a +1.47% move from the previous day. This change outpaced the S&P 500's 1.42% gain on the day. Meanwhile, the Dow gained 1%, and the Nasdaq, a tech-heavy index, added 5.16%.
Coming into today, shares of the oil and natural gas company had lost 4.88% in the past month. In that same time, the Oils-Energy sector lost 4.02%, while the S&P 500 gained 0.27%.
Investors will be hoping for strength from Canadian Natural Resources as it approaches its next earnings release. On that day, Canadian Natural Resources is projected to report earnings of $1.35 per share, which would represent a year-over-year decline of 40.27%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.76 billion, down 19.83% from the year-ago period.
CNQ's full-year Zacks Consensus Estimates are calling for earnings of $5.76 per share and revenue of $25.29 billion. These results would represent year-over-year changes of -33.1% and -22.35%, respectively.
It is also important to note the recent changes to analyst estimates for Canadian Natural Resources. Recent revisions tend to reflect the latest 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.
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 10.39% lower within the past month. Canadian Natural Resources currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Canadian Natural Resources is holding a Forward P/E ratio of 9.33. For comparison, its industry has an average Forward P/E of 6.02, which means Canadian Natural Resources is trading at a premium to the group.
Investors should also note that CNQ has a PEG ratio of 0.76 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - Canadian was holding an average PEG ratio of 0.48 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 223, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.