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Here's Why Cameco (CCJ) Fell More Than Broader Market
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Cameco (CCJ - Free Report) ended the recent trading session at $88.12, demonstrating a -2.95% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.03%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq gained 0.01%.
Prior to today's trading, shares of the uranium producer had lost 15.43% lagged the Oils-Energy sector's loss of 0.34% and the S&P 500's gain of 0.53%.
The investment community will be paying close attention to the earnings performance of Cameco in its upcoming release. In that report, analysts expect Cameco to post earnings of $0.26 per share. This would mark year-over-year growth of 420%. Our most recent consensus estimate is calling for quarterly revenue of $494.94 million, up 10.91% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $1.2 per share and a revenue of $0 million, demonstrating changes of +16.5% and 0%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Cameco. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Cameco boasts a Zacks Rank of #3 (Hold).
Investors should also note Cameco's current valuation metrics, including its Forward P/E ratio of 75.77. Its industry sports an average Forward P/E of 17.44, so one might conclude that Cameco is trading at a premium comparatively.
Meanwhile, CCJ's PEG ratio is currently 1.65. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Alternative Energy - Other stocks are, on average, holding a PEG ratio of 2.21 based on yesterday's closing prices.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 105, placing it within the top 43% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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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Here's Why Cameco (CCJ) Fell More Than Broader Market
Cameco (CCJ - Free Report) ended the recent trading session at $88.12, demonstrating a -2.95% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.03%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq gained 0.01%.
Prior to today's trading, shares of the uranium producer had lost 15.43% lagged the Oils-Energy sector's loss of 0.34% and the S&P 500's gain of 0.53%.
The investment community will be paying close attention to the earnings performance of Cameco in its upcoming release. In that report, analysts expect Cameco to post earnings of $0.26 per share. This would mark year-over-year growth of 420%. Our most recent consensus estimate is calling for quarterly revenue of $494.94 million, up 10.91% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $1.2 per share and a revenue of $0 million, demonstrating changes of +16.5% and 0%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Cameco. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Cameco boasts a Zacks Rank of #3 (Hold).
Investors should also note Cameco's current valuation metrics, including its Forward P/E ratio of 75.77. Its industry sports an average Forward P/E of 17.44, so one might conclude that Cameco is trading at a premium comparatively.
Meanwhile, CCJ's PEG ratio is currently 1.65. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Alternative Energy - Other stocks are, on average, holding a PEG ratio of 2.21 based on yesterday's closing prices.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 105, placing it within the top 43% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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.