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Cenovus Energy (CVE) Stock Dips While Market Gains: Key Facts
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Cenovus Energy (CVE - Free Report) ended the recent trading session at $31.57, demonstrating a -3.22% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 1.49% for the day. On the other hand, the Dow registered a gain of 0.71%, and the technology-centric Nasdaq increased by 2.26%.
Heading into today, shares of the oil company had lost 0.94% over the past month, lagging the Oils-Energy sector's gain of 0.51% and the S&P 500's gain of 0.1%.
The investment community will be closely monitoring the performance of Cenovus Energy in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $1.07, reflecting a 105.77% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $11.62 billion, up 21.25% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.57 per share and a revenue of $42.35 billion, representing changes of +131.82% and +19.1%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Cenovus Energy. Recent revisions tend to reflect the latest 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 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, 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, there's been a 4.39% rise in the Zacks Consensus EPS estimate. Cenovus Energy currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Cenovus Energy is presently being traded at a Forward P/E ratio of 9.15. This valuation marks a discount compared to its industry average Forward P/E of 10.51.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 107, finds itself in the top 44% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Cenovus Energy (CVE) Stock Dips While Market Gains: Key Facts
Cenovus Energy (CVE - Free Report) ended the recent trading session at $31.57, demonstrating a -3.22% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 1.49% for the day. On the other hand, the Dow registered a gain of 0.71%, and the technology-centric Nasdaq increased by 2.26%.
Heading into today, shares of the oil company had lost 0.94% over the past month, lagging the Oils-Energy sector's gain of 0.51% and the S&P 500's gain of 0.1%.
The investment community will be closely monitoring the performance of Cenovus Energy in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $1.07, reflecting a 105.77% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $11.62 billion, up 21.25% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.57 per share and a revenue of $42.35 billion, representing changes of +131.82% and +19.1%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Cenovus Energy. Recent revisions tend to reflect the latest 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 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, 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, there's been a 4.39% rise in the Zacks Consensus EPS estimate. Cenovus Energy currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Cenovus Energy is presently being traded at a Forward P/E ratio of 9.15. This valuation marks a discount compared to its industry average Forward P/E of 10.51.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 107, finds itself in the top 44% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.