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Gear Up for Canadian Natural Resources (CNQ) Q3 Earnings: Wall Street Estimates for Key Metrics
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The upcoming report from Canadian Natural Resources (CNQ - Free Report) is expected to reveal quarterly earnings of $1.05 per share, indicating an increase of 69.4% compared to the year-ago period. Analysts forecast revenues of $8.29 billion, representing an increase of 20% year over year.
Over the last 30 days, there has been an upward revision of 16.4% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Canadian Natural Resources metrics that are commonly monitored and projected by Wall Street analysts.
Analysts forecast 'Daily production, before royalties - Equivalent production' to reach 1631078 barrels of oil equivalent per day. The estimate is in contrast to the year-ago figure of 1620261 barrels of oil equivalent per day.
The consensus among analysts is that 'Production Volumes, before royalties - Crude Oil and NGLs - North America E&P - Primary Heavy' will reach 91.38 thousands of barrels of oil per day. The estimate compares to the year-ago value of 87.71 thousands of barrels of oil per day.
According to the collective judgment of analysts, 'Production Volumes, before royalties - Crude Oil and NGLs - North America E&P - Thermal In Situ' should come in at 289.90 thousands of barrels of oil per day. The estimate compares to the year-ago value of 274.75 thousands of barrels of oil per day.
Analysts' assessment points toward 'Production Volumes, before royalties - Crude Oil and NGLs - Oil Sands Mining and Upgrading' reaching 542.76 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 581.14 thousands of barrels of oil per day.
The collective assessment of analysts points to an estimated 'Production Volumes, before royalties - Crude Oil and NGLs - North America E&P - NGLs' of 127.68 thousands of barrels of oil per day. Compared to the current estimate, the company reported 109.76 thousands of barrels of oil per day in the same quarter of the previous year.
Analysts expect 'Production Volumes, before royalties - Crude Oil and NGLs - International - North Sea' to come in at 6.92 thousands of barrels of oil per day. Compared to the current estimate, the company reported 7.05 thousands of barrels of oil per day in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Daily production, before royalties - Crude oil and NGL' will likely reach 1197642 barrels of oil per day. The estimate compares to the year-ago value of 1175604 barrels of oil per day.
Based on the collective assessment of analysts, 'Daily production, before royalties - Natural gas' should arrive at . The estimate is in contrast to the year-ago figure of .
Analysts predict that the 'Production Volumes, before royalties - Natural Gas - North America' will reach 2596 thousands of cubic feet per day. Compared to the present estimate, the company reported 2658 thousands of cubic feet per day in the same quarter last year.
It is projected by analysts that the 'Production Volumes, before royalties - Natural Gas - International - Offshore Africa' will reach 3 thousands of cubic feet per day. Compared to the current estimate, the company reported 8 thousands of cubic feet per day in the same quarter of the previous year.
The consensus estimate for 'Production Volumes, before royalties - Crude Oil and NGLs - North America E&P - Total North America E&P crude oil and NGLs' stands at 642.33 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 584.63 thousands of barrels of oil per day.
The average prediction of analysts places 'Crude Oil and NGLs Sales Volumes - North America (Light crude oil + NGLs)' at 216.01 thousands of barrels of oil per day. Compared to the current estimate, the company reported 180.12 thousands of barrels of oil per day in the same quarter of the previous year.
Over the past month, Canadian Natural Resources shares have recorded returns of +11% versus the Zacks S&P 500 composite's -2.3% change. Based on its Zacks Rank #1 (Strong Buy), CNQ will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Gear Up for Canadian Natural Resources (CNQ) Q3 Earnings: Wall Street Estimates for Key Metrics
The upcoming report from Canadian Natural Resources (CNQ - Free Report) is expected to reveal quarterly earnings of $1.05 per share, indicating an increase of 69.4% compared to the year-ago period. Analysts forecast revenues of $8.29 billion, representing an increase of 20% year over year.
Over the last 30 days, there has been an upward revision of 16.4% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Canadian Natural Resources metrics that are commonly monitored and projected by Wall Street analysts.
Analysts forecast 'Daily production, before royalties - Equivalent production' to reach 1631078 barrels of oil equivalent per day. The estimate is in contrast to the year-ago figure of 1620261 barrels of oil equivalent per day.
The consensus among analysts is that 'Production Volumes, before royalties - Crude Oil and NGLs - North America E&P - Primary Heavy' will reach 91.38 thousands of barrels of oil per day. The estimate compares to the year-ago value of 87.71 thousands of barrels of oil per day.
According to the collective judgment of analysts, 'Production Volumes, before royalties - Crude Oil and NGLs - North America E&P - Thermal In Situ' should come in at 289.90 thousands of barrels of oil per day. The estimate compares to the year-ago value of 274.75 thousands of barrels of oil per day.
Analysts' assessment points toward 'Production Volumes, before royalties - Crude Oil and NGLs - Oil Sands Mining and Upgrading' reaching 542.76 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 581.14 thousands of barrels of oil per day.
The collective assessment of analysts points to an estimated 'Production Volumes, before royalties - Crude Oil and NGLs - North America E&P - NGLs' of 127.68 thousands of barrels of oil per day. Compared to the current estimate, the company reported 109.76 thousands of barrels of oil per day in the same quarter of the previous year.
Analysts expect 'Production Volumes, before royalties - Crude Oil and NGLs - International - North Sea' to come in at 6.92 thousands of barrels of oil per day. Compared to the current estimate, the company reported 7.05 thousands of barrels of oil per day in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Daily production, before royalties - Crude oil and NGL' will likely reach 1197642 barrels of oil per day. The estimate compares to the year-ago value of 1175604 barrels of oil per day.
Based on the collective assessment of analysts, 'Daily production, before royalties - Natural gas' should arrive at . The estimate is in contrast to the year-ago figure of .
Analysts predict that the 'Production Volumes, before royalties - Natural Gas - North America' will reach 2596 thousands of cubic feet per day. Compared to the present estimate, the company reported 2658 thousands of cubic feet per day in the same quarter last year.
It is projected by analysts that the 'Production Volumes, before royalties - Natural Gas - International - Offshore Africa' will reach 3 thousands of cubic feet per day. Compared to the current estimate, the company reported 8 thousands of cubic feet per day in the same quarter of the previous year.
The consensus estimate for 'Production Volumes, before royalties - Crude Oil and NGLs - North America E&P - Total North America E&P crude oil and NGLs' stands at 642.33 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 584.63 thousands of barrels of oil per day.
The average prediction of analysts places 'Crude Oil and NGLs Sales Volumes - North America (Light crude oil + NGLs)' at 216.01 thousands of barrels of oil per day. Compared to the current estimate, the company reported 180.12 thousands of barrels of oil per day in the same quarter of the previous year.
View all Key Company Metrics for Canadian Natural Resources here>>>Over the past month, Canadian Natural Resources shares have recorded returns of +11% versus the Zacks S&P 500 composite's -2.3% change. Based on its Zacks Rank #1 (Strong Buy), CNQ will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .