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Cameco (CCJ) Outperforms Broader Market: What You Need to Know
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In the latest close session, Cameco (CCJ - Free Report) was up +1.63% at $100.17. The stock outpaced the S&P 500's daily gain of 0.64%. At the same time, the Dow added 1.23%, and the tech-heavy Nasdaq gained 0.69%.
Coming into today, shares of the uranium producer had gained 7.99% in the past month. In that same time, the Basic Materials sector gained 5.72%, while the S&P 500 gained 0.55%.
The upcoming earnings release of Cameco will be of great interest to investors. The company is forecasted to report an EPS of $0.28, showcasing a 7.69% upward movement from the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $0.96 per share and a revenue of $2.37 billion, demonstrating changes of +95.92% and 0%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Cameco. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.68% higher. Cameco currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Cameco is presently being traded at a Forward P/E ratio of 66.15. This represents a premium compared to its industry average Forward P/E of 21.28.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 82, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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Cameco (CCJ) Outperforms Broader Market: What You Need to Know
In the latest close session, Cameco (CCJ - Free Report) was up +1.63% at $100.17. The stock outpaced the S&P 500's daily gain of 0.64%. At the same time, the Dow added 1.23%, and the tech-heavy Nasdaq gained 0.69%.
Coming into today, shares of the uranium producer had gained 7.99% in the past month. In that same time, the Basic Materials sector gained 5.72%, while the S&P 500 gained 0.55%.
The upcoming earnings release of Cameco will be of great interest to investors. The company is forecasted to report an EPS of $0.28, showcasing a 7.69% upward movement from the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $0.96 per share and a revenue of $2.37 billion, demonstrating changes of +95.92% and 0%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Cameco. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.68% higher. Cameco currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Cameco is presently being traded at a Forward P/E ratio of 66.15. This represents a premium compared to its industry average Forward P/E of 21.28.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 82, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.