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Coterra Energy (CTRA) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Coterra Energy (CTRA - Free Report) closed the most recent trading day at $24.88, moving -1.7% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 1.61%. Elsewhere, the Dow lost 0.82%, while the tech-heavy Nasdaq lost 2.23%.
The the stock of independent oil and gas company has fallen by 1.48% in the past month, lagging the Oils-Energy sector's loss of 0.29% and the S&P 500's gain of 3.28%.
The investment community will be closely monitoring the performance of Coterra Energy in its forthcoming earnings report. The company is scheduled to release its earnings on February 22, 2024. The company's earnings per share (EPS) are projected to be $0.56, reflecting a 51.72% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.54 billion, indicating a 32.3% decline compared to the corresponding quarter of the prior year.
Investors should also note any recent changes to analyst estimates for Coterra Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 17.7% lower. Coterra Energy is holding a Zacks Rank of #5 (Strong Sell) right now.
Valuation is also important, so investors should note that Coterra Energy has a Forward P/E ratio of 11.22 right now. This represents a premium compared to its industry's average Forward P/E of 8.61.
We can additionally observe that CTRA currently boasts a PEG ratio of 0.2. 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.66 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 249, finds itself in the bottom 2% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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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Coterra Energy (CTRA) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Coterra Energy (CTRA - Free Report) closed the most recent trading day at $24.88, moving -1.7% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 1.61%. Elsewhere, the Dow lost 0.82%, while the tech-heavy Nasdaq lost 2.23%.
The the stock of independent oil and gas company has fallen by 1.48% in the past month, lagging the Oils-Energy sector's loss of 0.29% and the S&P 500's gain of 3.28%.
The investment community will be closely monitoring the performance of Coterra Energy in its forthcoming earnings report. The company is scheduled to release its earnings on February 22, 2024. The company's earnings per share (EPS) are projected to be $0.56, reflecting a 51.72% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.54 billion, indicating a 32.3% decline compared to the corresponding quarter of the prior year.
Investors should also note any recent changes to analyst estimates for Coterra Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 17.7% lower. Coterra Energy is holding a Zacks Rank of #5 (Strong Sell) right now.
Valuation is also important, so investors should note that Coterra Energy has a Forward P/E ratio of 11.22 right now. This represents a premium compared to its industry's average Forward P/E of 8.61.
We can additionally observe that CTRA currently boasts a PEG ratio of 0.2. 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.66 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 249, finds itself in the bottom 2% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.