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Crescent Energy (CRGY) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Crescent Energy (CRGY - Free Report) closed the most recent trading day at $14.40, moving -6.31% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.45% for the day. On the other hand, the Dow registered a loss of 1.21%, and the technology-centric Nasdaq decreased by 0.01%.
Prior to today's trading, shares of the oil and gas company had gained 18.69% outpaced the Oils-Energy sector's gain of 3.72% and the S&P 500's loss of 2.43%.
Analysts and investors alike will be keeping a close eye on the performance of Crescent Energy in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.56, showcasing a 60% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $1.2 billion, showing a 38.04% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.57 per share and revenue of $4.98 billion. These totals would mark changes of +42.78% and +39.19%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Crescent Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 4.66% rise in the Zacks Consensus EPS estimate. Currently, Crescent Energy is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Crescent Energy has a Forward P/E ratio of 5.99 right now. This indicates a discount in contrast to its industry's Forward P/E of 17.92.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 98, finds itself in the top 40% echelons of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Crescent Energy (CRGY) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Crescent Energy (CRGY - Free Report) closed the most recent trading day at $14.40, moving -6.31% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.45% for the day. On the other hand, the Dow registered a loss of 1.21%, and the technology-centric Nasdaq decreased by 0.01%.
Prior to today's trading, shares of the oil and gas company had gained 18.69% outpaced the Oils-Energy sector's gain of 3.72% and the S&P 500's loss of 2.43%.
Analysts and investors alike will be keeping a close eye on the performance of Crescent Energy in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.56, showcasing a 60% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $1.2 billion, showing a 38.04% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.57 per share and revenue of $4.98 billion. These totals would mark changes of +42.78% and +39.19%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Crescent Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 4.66% rise in the Zacks Consensus EPS estimate. Currently, Crescent Energy is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Crescent Energy has a Forward P/E ratio of 5.99 right now. This indicates a discount in contrast to its industry's Forward P/E of 17.92.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 98, finds itself in the top 40% echelons of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.