In the latest trading session, Chesapeake Energy closed at $18.87, marking a -1.87% move from the previous day. This change lagged the S&P 500's daily gain of 0.83%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 1.43%.
Wall Street will be looking for positivity from CHK as it approaches its next earnings report date. In that report, analysts expect CHK to post earnings of -$23.62 per share. This would mark a year-over-year decline of 18.1%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $913.52 million, down 37.17% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$77.66 per share and revenue of $3.69 billion, which would represent changes of -43.81% and -18.37%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for CHK. 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 company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Within the past 30 days, our consensus EPS projection remained stagnant. CHK currently has a Zacks Rank of #2 (Buy).
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 46, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.