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Crescent Energy (CRGY) Stock Moves -0.19%: What You Should Know
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In the latest trading session, Crescent Energy (CRGY - Free Report) closed at $10.75, marking a -0.19% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.46%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 0.64%.
Shares of the oil and gas company have depreciated by 8.26% over the course of the past month, underperforming the Oils-Energy sector's gain of 4.21% and the S&P 500's loss of 3.04%.
The investment community will be closely monitoring the performance of Crescent Energy in its forthcoming earnings report. The company is scheduled to release its earnings on May 6, 2024. On that day, Crescent Energy is projected to report earnings of $0.18 per share, which would represent a year-over-year decline of 43.75%. Our most recent consensus estimate is calling for quarterly revenue of $579.44 million, down 1.81% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.29 per share and a revenue of $2.44 billion, indicating changes of -55.67% and +2.27%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Crescent Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 remained unchanged. As of now, Crescent Energy holds a Zacks Rank of #3 (Hold).
In terms of valuation, Crescent Energy is presently being traded at a Forward P/E ratio of 8.38. This represents a discount compared to its industry's average Forward P/E of 25.06.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 78, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Crescent Energy (CRGY) Stock Moves -0.19%: What You Should Know
In the latest trading session, Crescent Energy (CRGY - Free Report) closed at $10.75, marking a -0.19% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.46%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 0.64%.
Shares of the oil and gas company have depreciated by 8.26% over the course of the past month, underperforming the Oils-Energy sector's gain of 4.21% and the S&P 500's loss of 3.04%.
The investment community will be closely monitoring the performance of Crescent Energy in its forthcoming earnings report. The company is scheduled to release its earnings on May 6, 2024. On that day, Crescent Energy is projected to report earnings of $0.18 per share, which would represent a year-over-year decline of 43.75%. Our most recent consensus estimate is calling for quarterly revenue of $579.44 million, down 1.81% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.29 per share and a revenue of $2.44 billion, indicating changes of -55.67% and +2.27%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Crescent Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 remained unchanged. As of now, Crescent Energy holds a Zacks Rank of #3 (Hold).
In terms of valuation, Crescent Energy is presently being traded at a Forward P/E ratio of 8.38. This represents a discount compared to its industry's average Forward P/E of 25.06.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 78, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.