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Canadian Natural Resources (CNQ) Advances While Market Declines: Some Information for Investors
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Canadian Natural Resources (CNQ - Free Report) closed the most recent trading day at $77.34, moving +0.56% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.46%. Meanwhile, the Dow lost 0.98%, and the Nasdaq, a tech-heavy index, lost 0.64%.
Coming into today, shares of the oil and natural gas company had gained 1.91% in the past month. In that same time, the Oils-Energy sector gained 4.21%, while the S&P 500 lost 3.04%.
Analysts and investors alike will be keeping a close eye on the performance of Canadian Natural Resources in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.04, signifying a 16.8% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $6.01 billion, indicating a 5.83% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.71 per share and a revenue of $25.84 billion, signifying shifts of -0.35% and -3.04%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Canadian Natural Resources. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.97% higher. Canadian Natural Resources is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Canadian Natural Resources is presently being traded at a Forward P/E ratio of 13.47. Its industry sports an average Forward P/E of 8.63, so one might conclude that Canadian Natural Resources is trading at a premium comparatively.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 37% of over 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Canadian Natural Resources (CNQ) Advances While Market Declines: Some Information for Investors
Canadian Natural Resources (CNQ - Free Report) closed the most recent trading day at $77.34, moving +0.56% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.46%. Meanwhile, the Dow lost 0.98%, and the Nasdaq, a tech-heavy index, lost 0.64%.
Coming into today, shares of the oil and natural gas company had gained 1.91% in the past month. In that same time, the Oils-Energy sector gained 4.21%, while the S&P 500 lost 3.04%.
Analysts and investors alike will be keeping a close eye on the performance of Canadian Natural Resources in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.04, signifying a 16.8% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $6.01 billion, indicating a 5.83% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.71 per share and a revenue of $25.84 billion, signifying shifts of -0.35% and -3.04%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Canadian Natural Resources. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.97% higher. Canadian Natural Resources is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Canadian Natural Resources is presently being traded at a Forward P/E ratio of 13.47. Its industry sports an average Forward P/E of 8.63, so one might conclude that Canadian Natural Resources is trading at a premium comparatively.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 37% of over 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.