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Canadian Natural Resources (CNQ) Gains As Market Dips: What You Should Know
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In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $59.70, marking a +0.66% move from the previous day. This move outpaced the S&P 500's daily loss of 0.41%. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, lost 4.08%.
Heading into today, shares of the oil and natural gas company had gained 10.69% over the past month, outpacing the Oils-Energy sector's gain of 3.28% and the S&P 500's gain of 6.51% in that time.
Investors will be hoping for strength from Canadian Natural Resources as it approaches its next earnings release. The company is expected to report EPS of $1.31, down 42.04% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.76 billion, down 19.83% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.89 per share and revenue of $25.29 billion. These totals would mark changes of -31.59% and -22.35%, respectively, from last year.
Any recent changes to analyst estimates for Canadian Natural Resources should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 7.07% lower. Canadian Natural Resources currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Canadian Natural Resources is currently trading at a Forward P/E ratio of 10.07. Its industry sports an average Forward P/E of 6.58, so we one might conclude that Canadian Natural Resources is trading at a premium comparatively.
Investors should also note that CNQ has a PEG ratio of 0.82 right now. 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 was holding an average PEG ratio of 0.49 at yesterday's closing price.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 219, which puts it in the bottom 14% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Canadian Natural Resources (CNQ) Gains As Market Dips: What You Should Know
In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $59.70, marking a +0.66% move from the previous day. This move outpaced the S&P 500's daily loss of 0.41%. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, lost 4.08%.
Heading into today, shares of the oil and natural gas company had gained 10.69% over the past month, outpacing the Oils-Energy sector's gain of 3.28% and the S&P 500's gain of 6.51% in that time.
Investors will be hoping for strength from Canadian Natural Resources as it approaches its next earnings release. The company is expected to report EPS of $1.31, down 42.04% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.76 billion, down 19.83% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.89 per share and revenue of $25.29 billion. These totals would mark changes of -31.59% and -22.35%, respectively, from last year.
Any recent changes to analyst estimates for Canadian Natural Resources should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 7.07% lower. Canadian Natural Resources currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Canadian Natural Resources is currently trading at a Forward P/E ratio of 10.07. Its industry sports an average Forward P/E of 6.58, so we one might conclude that Canadian Natural Resources is trading at a premium comparatively.
Investors should also note that CNQ has a PEG ratio of 0.82 right now. 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 was holding an average PEG ratio of 0.49 at yesterday's closing price.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 219, which puts it in the bottom 14% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.