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Why Cameco (CCJ) Dipped More Than Broader Market Today
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Cameco (CCJ - Free Report) closed the most recent trading day at $107.92, moving -6.4% from the previous trading session. This change lagged the S&P 500's daily loss of 0.61%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq lost 0.93%.
The uranium producer's shares have seen a decrease of 0.94% over the last month, not keeping up with the Oils-Energy sector's gain of 7.86% and outstripping the S&P 500's loss of 2.25%.
The investment community will be paying close attention to the earnings performance of Cameco in its upcoming release. The company is expected to report EPS of $0.35, up 218.18% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.57 per share and a revenue of $2.5 billion, indicating changes of +52.43% and +0.54%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Cameco. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 past month, the Zacks Consensus EPS estimate has moved 0.13% lower. At present, Cameco boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Cameco is currently exchanging hands at a Forward P/E ratio of 73.35. For comparison, its industry has an average Forward P/E of 18.78, which means Cameco is trading at a premium to the group.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 147, finds itself in the bottom 40% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Why Cameco (CCJ) Dipped More Than Broader Market Today
Cameco (CCJ - Free Report) closed the most recent trading day at $107.92, moving -6.4% from the previous trading session. This change lagged the S&P 500's daily loss of 0.61%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq lost 0.93%.
The uranium producer's shares have seen a decrease of 0.94% over the last month, not keeping up with the Oils-Energy sector's gain of 7.86% and outstripping the S&P 500's loss of 2.25%.
The investment community will be paying close attention to the earnings performance of Cameco in its upcoming release. The company is expected to report EPS of $0.35, up 218.18% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.57 per share and a revenue of $2.5 billion, indicating changes of +52.43% and +0.54%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Cameco. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 past month, the Zacks Consensus EPS estimate has moved 0.13% lower. At present, Cameco boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Cameco is currently exchanging hands at a Forward P/E ratio of 73.35. For comparison, its industry has an average Forward P/E of 18.78, which means Cameco is trading at a premium to the group.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 147, finds itself in the bottom 40% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.