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Coterra Energy (CTRA) Gains But Lags Market: What You Should Know
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In the latest trading session, Coterra Energy (CTRA - Free Report) closed at $28.13, marking a +0.68% move from the previous day. The stock lagged the S&P 500's daily gain of 1.2%. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 1.59%.
The the stock of independent oil and gas company has risen by 0.43% in the past month, lagging the Oils-Energy sector's gain of 3.58% and overreaching the S&P 500's loss of 4.16%.
Market participants will be closely following the financial results of Coterra Energy in its upcoming release. The company plans to announce its earnings on May 2, 2024. The company is predicted to post an EPS of $0.42, indicating a 51.72% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $1.39 billion, reflecting a 21.93% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.86 per share and a revenue of $5.73 billion, representing changes of -17.7% and -3.15%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Coterra Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 5.1% decrease. Coterra Energy is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Coterra Energy is currently exchanging hands at a Forward P/E ratio of 15. Its industry sports an average Forward P/E of 10.69, so one might conclude that Coterra Energy is trading at a premium comparatively.
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 191, finds itself in the bottom 25% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Coterra Energy (CTRA) Gains But Lags Market: What You Should Know
In the latest trading session, Coterra Energy (CTRA - Free Report) closed at $28.13, marking a +0.68% move from the previous day. The stock lagged the S&P 500's daily gain of 1.2%. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 1.59%.
The the stock of independent oil and gas company has risen by 0.43% in the past month, lagging the Oils-Energy sector's gain of 3.58% and overreaching the S&P 500's loss of 4.16%.
Market participants will be closely following the financial results of Coterra Energy in its upcoming release. The company plans to announce its earnings on May 2, 2024. The company is predicted to post an EPS of $0.42, indicating a 51.72% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $1.39 billion, reflecting a 21.93% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.86 per share and a revenue of $5.73 billion, representing changes of -17.7% and -3.15%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Coterra Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 5.1% decrease. Coterra Energy is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Coterra Energy is currently exchanging hands at a Forward P/E ratio of 15. Its industry sports an average Forward P/E of 10.69, so one might conclude that Coterra Energy is trading at a premium comparatively.
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 191, finds itself in the bottom 25% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.