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Coterra Energy (CTRA) Dips More Than Broader Markets: What You Should Know
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Coterra Energy (CTRA - Free Report) closed the most recent trading day at $24.69, moving -1.83% from the previous trading session. This move lagged the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 10.47%.
Heading into today, shares of the independent oil and gas company had gained 4.88% over the past month, lagging the Oils-Energy sector's gain of 7.91% and outpacing the S&P 500's gain of 2.61% in that time.
Coterra Energy will be looking to display strength as it nears its next earnings release, which is expected to be May 4, 2023. In that report, analysts expect Coterra Energy to post earnings of $0.71 per share. This would mark a year-over-year decline of 29.7%. Meanwhile, our latest consensus estimate is calling for revenue of $1.61 billion, down 3.89% from the prior-year quarter.
CTRA's full-year Zacks Consensus Estimates are calling for earnings of $2.51 per share and revenue of $6.17 billion. These results would represent year-over-year changes of -49.19% and -31.81%, respectively.
It is also important to note the recent changes to analyst estimates for Coterra Energy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 8.83% lower within the past month. Coterra Energy is currently a Zacks Rank #3 (Hold).
In terms of valuation, Coterra Energy is currently trading at a Forward P/E ratio of 10.02. This represents a premium compared to its industry's average Forward P/E of 6.64.
Also, we should mention that CTRA has a PEG ratio of 0.18. 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. CTRA's industry had an average PEG ratio of 0.35 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Coterra Energy (CTRA) Dips More Than Broader Markets: What You Should Know
Coterra Energy (CTRA - Free Report) closed the most recent trading day at $24.69, moving -1.83% from the previous trading session. This move lagged the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 10.47%.
Heading into today, shares of the independent oil and gas company had gained 4.88% over the past month, lagging the Oils-Energy sector's gain of 7.91% and outpacing the S&P 500's gain of 2.61% in that time.
Coterra Energy will be looking to display strength as it nears its next earnings release, which is expected to be May 4, 2023. In that report, analysts expect Coterra Energy to post earnings of $0.71 per share. This would mark a year-over-year decline of 29.7%. Meanwhile, our latest consensus estimate is calling for revenue of $1.61 billion, down 3.89% from the prior-year quarter.
CTRA's full-year Zacks Consensus Estimates are calling for earnings of $2.51 per share and revenue of $6.17 billion. These results would represent year-over-year changes of -49.19% and -31.81%, respectively.
It is also important to note the recent changes to analyst estimates for Coterra Energy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 8.83% lower within the past month. Coterra Energy is currently a Zacks Rank #3 (Hold).
In terms of valuation, Coterra Energy is currently trading at a Forward P/E ratio of 10.02. This represents a premium compared to its industry's average Forward P/E of 6.64.
Also, we should mention that CTRA has a PEG ratio of 0.18. 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. CTRA's industry had an average PEG ratio of 0.35 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.