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Crescent Energy (CRGY) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest trading session, Crescent Energy (CRGY - Free Report) closed at $11.67, marking a -1.52% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 1.46%. Elsewhere, the Dow lost 1.24%, while the tech-heavy Nasdaq lost 1.63%.
Coming into today, shares of the oil and gas company had gained 8.12% in the past month. In that same time, the Oils-Energy sector gained 8.14%, while the S&P 500 gained 1.6%.
Investors will be eagerly watching for the performance of Crescent Energy in its upcoming earnings disclosure. The company is expected to report EPS of $0.18, down 43.75% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $570.09 million, indicating a 3.4% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.15 per share and revenue of $2.39 billion, which would represent changes of -60.48% and +0.5%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Crescent Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 10.9% decrease. Crescent Energy is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Crescent Energy is currently exchanging hands at a Forward P/E ratio of 10.35. This denotes a discount relative to the industry's average Forward P/E of 25.69.
The Alternative Energy - Other industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 91, positioning it in the top 37% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Crescent Energy (CRGY) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest trading session, Crescent Energy (CRGY - Free Report) closed at $11.67, marking a -1.52% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 1.46%. Elsewhere, the Dow lost 1.24%, while the tech-heavy Nasdaq lost 1.63%.
Coming into today, shares of the oil and gas company had gained 8.12% in the past month. In that same time, the Oils-Energy sector gained 8.14%, while the S&P 500 gained 1.6%.
Investors will be eagerly watching for the performance of Crescent Energy in its upcoming earnings disclosure. The company is expected to report EPS of $0.18, down 43.75% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $570.09 million, indicating a 3.4% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.15 per share and revenue of $2.39 billion, which would represent changes of -60.48% and +0.5%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Crescent Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 10.9% decrease. Crescent Energy is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Crescent Energy is currently exchanging hands at a Forward P/E ratio of 10.35. This denotes a discount relative to the industry's average Forward P/E of 25.69.
The Alternative Energy - Other industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 91, positioning it in the top 37% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.