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CVR Energy (CVI) Stock Sinks As Market Gains: What You Should Know
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CVR Energy (CVI - Free Report) closed at $29.96 in the latest trading session, marking a -0.6% move from the prior day. This change lagged the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.84%, and the Nasdaq, a tech-heavy index, lost 2.24%.
Heading into today, shares of the diversified holding company had gained 27.23% over the past month, outpacing the Oils-Energy sector's gain of 3.61% and the S&P 500's gain of 4.67% in that time.
Investors will be hoping for strength from CVR Energy as it approaches its next earnings release. On that day, CVR Energy is projected to report earnings of $0.95 per share, which would represent a year-over-year decline of 61.22%. Meanwhile, our latest consensus estimate is calling for revenue of $2.16 billion, down 31.22% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.70 per share and revenue of $9.15 billion. These totals would mark changes of -38.74% and -16.02%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for CVR 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. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 6.33% lower. CVR Energy is currently a Zacks Rank #4 (Sell).
Investors should also note CVR Energy's current valuation metrics, including its Forward P/E ratio of 8.15. This valuation marks a premium compared to its industry's average Forward P/E of 6.55.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% 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.
To follow CVI in the coming trading sessions, be sure to utilize Zacks.com.
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CVR Energy (CVI) Stock Sinks As Market Gains: What You Should Know
CVR Energy (CVI - Free Report) closed at $29.96 in the latest trading session, marking a -0.6% move from the prior day. This change lagged the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.84%, and the Nasdaq, a tech-heavy index, lost 2.24%.
Heading into today, shares of the diversified holding company had gained 27.23% over the past month, outpacing the Oils-Energy sector's gain of 3.61% and the S&P 500's gain of 4.67% in that time.
Investors will be hoping for strength from CVR Energy as it approaches its next earnings release. On that day, CVR Energy is projected to report earnings of $0.95 per share, which would represent a year-over-year decline of 61.22%. Meanwhile, our latest consensus estimate is calling for revenue of $2.16 billion, down 31.22% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.70 per share and revenue of $9.15 billion. These totals would mark changes of -38.74% and -16.02%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for CVR 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. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 6.33% lower. CVR Energy is currently a Zacks Rank #4 (Sell).
Investors should also note CVR Energy's current valuation metrics, including its Forward P/E ratio of 8.15. This valuation marks a premium compared to its industry's average Forward P/E of 6.55.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% 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.
To follow CVI in the coming trading sessions, be sure to utilize Zacks.com.