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Canadian Natural Resources (CNQ) Gains As Market Dips: What You Should Know
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Canadian Natural Resources (CNQ - Free Report) closed the most recent trading day at $55, moving +0.86% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 2.93%.
Coming into today, shares of the oil and natural gas company had lost 0.47% in the past month. In that same time, the Oils-Energy sector gained 2.07%, while the S&P 500 gained 4.22%.
Wall Street will be looking for positivity from Canadian Natural Resources as it approaches its next earnings report date. In that report, analysts expect Canadian Natural Resources to post earnings of $1.03 per share. This would mark a year-over-year decline of 59.61%. Meanwhile, our latest consensus estimate is calling for revenue of $5.58 billion, down 37.93% from the prior-year quarter.
CNQ's full-year Zacks Consensus Estimates are calling for earnings of $5.20 per share and revenue of $24.78 billion. These results would represent year-over-year changes of -39.61% and -23.92%, respectively.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.22% lower. Canadian Natural Resources is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Canadian Natural Resources is holding a Forward P/E ratio of 10.49. This represents a premium compared to its industry's average Forward P/E of 6.36.
Investors should also note that CNQ has a PEG ratio of 0.85 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 0.59 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 225, putting it in the bottom 11% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Canadian Natural Resources (CNQ) Gains As Market Dips: What You Should Know
Canadian Natural Resources (CNQ - Free Report) closed the most recent trading day at $55, moving +0.86% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 2.93%.
Coming into today, shares of the oil and natural gas company had lost 0.47% in the past month. In that same time, the Oils-Energy sector gained 2.07%, while the S&P 500 gained 4.22%.
Wall Street will be looking for positivity from Canadian Natural Resources as it approaches its next earnings report date. In that report, analysts expect Canadian Natural Resources to post earnings of $1.03 per share. This would mark a year-over-year decline of 59.61%. Meanwhile, our latest consensus estimate is calling for revenue of $5.58 billion, down 37.93% from the prior-year quarter.
CNQ's full-year Zacks Consensus Estimates are calling for earnings of $5.20 per share and revenue of $24.78 billion. These results would represent year-over-year changes of -39.61% and -23.92%, respectively.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.22% lower. Canadian Natural Resources is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Canadian Natural Resources is holding a Forward P/E ratio of 10.49. This represents a premium compared to its industry's average Forward P/E of 6.36.
Investors should also note that CNQ has a PEG ratio of 0.85 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 0.59 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 225, putting it in the bottom 11% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.