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Unveiling California Resources (CRC) Q2 Outlook: Wall Street Estimates for Key Metrics
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Wall Street analysts expect California Resources Corporation (CRC - Free Report) to post quarterly earnings of $1.31 per share in its upcoming report, which indicates a year-over-year increase of 19.1%. Revenues are expected to be $979.33 million, up 0.1% from the year-ago quarter.
The current level reflects a downward revision of 34.3% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some California Resources metrics that Wall Street analysts commonly model and monitor.
Analysts forecast 'Total Production Per Day' to reach 148.97 thousands of barrels of oil equivalent per day. The estimate is in contrast to the year-ago figure of 137.00 thousands of barrels of oil equivalent per day.
It is projected by analysts that the 'Production Per Day - Oil' will reach 120.58 thousands of barrels of oil per day. The estimate compares to the year-ago value of 109.00 thousands of barrels of oil per day.
The combined assessment of analysts suggests that 'Production per day - Natural Gas' will likely reach . The estimate compares to the year-ago value of .
Analysts predict that the 'Production Per Day - NGL' will reach 9.16 thousands of barrels of oil per day. Compared to the present estimate, the company reported 10.00 thousands of barrels of oil per day in the same quarter last year.
Over the past month, shares of California Resources have returned -0.1% versus the Zacks S&P 500 composite's +2.3% change. Currently, CRC carries a Zacks Rank #5 (Strong Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Unveiling California Resources (CRC) Q2 Outlook: Wall Street Estimates for Key Metrics
Wall Street analysts expect California Resources Corporation (CRC - Free Report) to post quarterly earnings of $1.31 per share in its upcoming report, which indicates a year-over-year increase of 19.1%. Revenues are expected to be $979.33 million, up 0.1% from the year-ago quarter.
The current level reflects a downward revision of 34.3% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some California Resources metrics that Wall Street analysts commonly model and monitor.
Analysts forecast 'Total Production Per Day' to reach 148.97 thousands of barrels of oil equivalent per day. The estimate is in contrast to the year-ago figure of 137.00 thousands of barrels of oil equivalent per day.
It is projected by analysts that the 'Production Per Day - Oil' will reach 120.58 thousands of barrels of oil per day. The estimate compares to the year-ago value of 109.00 thousands of barrels of oil per day.
The combined assessment of analysts suggests that 'Production per day - Natural Gas' will likely reach . The estimate compares to the year-ago value of .
Analysts predict that the 'Production Per Day - NGL' will reach 9.16 thousands of barrels of oil per day. Compared to the present estimate, the company reported 10.00 thousands of barrels of oil per day in the same quarter last year.
View all Key Company Metrics for California Resources here>>>Over the past month, shares of California Resources have returned -0.1% versus the Zacks S&P 500 composite's +2.3% change. Currently, CRC carries a Zacks Rank #5 (Strong Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .