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Crescent Energy (CRGY) Stock Drops Despite Market Gains: Important Facts to Note
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Crescent Energy (CRGY - Free Report) ended the recent trading session at $12.73, demonstrating a -5.7% change from the preceding day's closing price. This change lagged the S&P 500's 0.72% gain on the day. Elsewhere, the Dow saw an upswing of 0.48%, while the tech-heavy Nasdaq appreciated by 1.16%.
Heading into today, shares of the oil and gas company had gained 20.11% over the past month, outpacing the Oils-Energy sector's gain of 9.32% and the S&P 500's loss of 4.99%.
The investment community will be paying close attention to the earnings performance of Crescent Energy in its upcoming release. The company is expected to report EPS of $0.52, down 7.14% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.21 billion, up 27.15% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.79 per share and revenue of $4.57 billion, indicating changes of -0.56% and +27.74%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Crescent Energy should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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 last 30 days, the Zacks Consensus EPS estimate has moved 32.32% higher. Crescent Energy is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Crescent Energy is presently being traded at a Forward P/E ratio of 7.53. This represents a discount compared to its industry average Forward P/E of 18.05.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 81, placing it within the top 34% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Crescent Energy (CRGY) Stock Drops Despite Market Gains: Important Facts to Note
Crescent Energy (CRGY - Free Report) ended the recent trading session at $12.73, demonstrating a -5.7% change from the preceding day's closing price. This change lagged the S&P 500's 0.72% gain on the day. Elsewhere, the Dow saw an upswing of 0.48%, while the tech-heavy Nasdaq appreciated by 1.16%.
Heading into today, shares of the oil and gas company had gained 20.11% over the past month, outpacing the Oils-Energy sector's gain of 9.32% and the S&P 500's loss of 4.99%.
The investment community will be paying close attention to the earnings performance of Crescent Energy in its upcoming release. The company is expected to report EPS of $0.52, down 7.14% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.21 billion, up 27.15% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.79 per share and revenue of $4.57 billion, indicating changes of -0.56% and +27.74%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Crescent Energy should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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 last 30 days, the Zacks Consensus EPS estimate has moved 32.32% higher. Crescent Energy is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Crescent Energy is presently being traded at a Forward P/E ratio of 7.53. This represents a discount compared to its industry average Forward P/E of 18.05.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 81, placing it within the top 34% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.