Yahoo Finance Canadian Natural Resources (CNQ) Dips More Than Broader Markets: What You Should Know
Canadian Natural Resources (CNQ) closed at $50 in the latest trading session, marking a -1.63% move from the prior day. This change lagged the S&P 500's 1.1% loss on the day. Meanwhile, the Dow lost 1.19%, and the Nasdaq, a tech-heavy index, lost 3.27%.
Prior to today's trading, shares of the oil and natural gas company had lost 13.07% over the past month. This has lagged the Oils-Energy sector's loss of 10.83% and the S&P 500's loss of 3.02% in that time.
Wall Street will be looking for positivity from Canadian Natural Resources as it approaches its next earnings report date. In that report, analysts expect Canadian Natural Resources to post earnings of $1.76 per share. This would mark a year-over-year decline of 22.12%. Our most recent consensus estimate is calling for quarterly revenue of $7.36 billion, down 12.66% from the year-ago period.
CNQ's full-year Zacks Consensus Estimates are calling for earnings of $6.34 per share and revenue of $26.19 billion. These results would represent year-over-year changes of -26.36% and -19.61%, respectively.
Any recent changes to analyst estimates for Canadian Natural Resources should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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 has moved 1.43% lower. Canadian Natural Resources currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Canadian Natural Resources currently has a Forward P/E ratio of 8.02. For comparison, its industry has an average Forward P/E of 5.19, which means Canadian Natural Resources is trading at a premium to the group.
Meanwhile, CNQ's PEG ratio is currently 0.65. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Exploration and Production - Canadian stocks are, on average, holding a PEG ratio of 0.42 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 215, putting it in the bottom 15% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Canadian Natural Resources Limited (CNQ) : Free Stock Analysis Report
