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Cameco (CCJ) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest close session, Cameco (CCJ - Free Report) was down 2.01% at $68.27. The stock's performance was behind the S&P 500's daily loss of 0.22%. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw a decrease of 0.51%.
The stock of uranium producer has risen by 31.93% in the past month, leading the Basic Materials sector's gain of 2.25% and the S&P 500's gain of 0.45%.
The investment community will be paying close attention to the earnings performance of Cameco in its upcoming release. The company's earnings per share (EPS) are projected to be $0.29, reflecting a 190% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $681.82 million, indicating a 56% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.06 per share and revenue of $2.51 billion, indicating changes of +116.33% and +10.16%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Cameco. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 13.96% higher. Cameco is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Cameco is currently exchanging hands at a Forward P/E ratio of 65.64. This valuation marks a premium compared to its industry average Forward P/E of 20.08.
The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 155, this industry ranks in the bottom 37% of all industries, numbering over 250.
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.
To follow CCJ in the coming trading sessions, be sure to utilize Zacks.com.
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Cameco (CCJ) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest close session, Cameco (CCJ - Free Report) was down 2.01% at $68.27. The stock's performance was behind the S&P 500's daily loss of 0.22%. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw a decrease of 0.51%.
The stock of uranium producer has risen by 31.93% in the past month, leading the Basic Materials sector's gain of 2.25% and the S&P 500's gain of 0.45%.
The investment community will be paying close attention to the earnings performance of Cameco in its upcoming release. The company's earnings per share (EPS) are projected to be $0.29, reflecting a 190% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $681.82 million, indicating a 56% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.06 per share and revenue of $2.51 billion, indicating changes of +116.33% and +10.16%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Cameco. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 13.96% higher. Cameco is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Cameco is currently exchanging hands at a Forward P/E ratio of 65.64. This valuation marks a premium compared to its industry average Forward P/E of 20.08.
The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 155, this industry ranks in the bottom 37% of all industries, numbering over 250.
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.
To follow CCJ in the coming trading sessions, be sure to utilize Zacks.com.