Yahoo Finance Canadian Natural Resources (CNQ) Stock Moves -0.14%: What You Should Know
Canadian Natural Resources (CNQ) closed at $59.09 in the latest trading session, marking a -0.14% move from the prior day. This change was narrower than the S&P 500's 0.58% loss on the day. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 1.54%.
Prior to today's trading, shares of the oil and natural gas company had lost 0.7% over the past month. This has was narrower than the Oils-Energy sector's loss of 1.82% and lagged the S&P 500's gain of 2% in that time.
Canadian Natural Resources will be looking to display strength as it nears its next earnings release. In that report, analysts expect Canadian Natural Resources to post earnings of $1.35 per share. This would mark a year-over-year decline of 40.27%. Meanwhile, our latest consensus estimate is calling for revenue of $6.76 billion, down 19.83% from the prior-year quarter.
CNQ's full-year Zacks Consensus Estimates are calling for earnings of $5.76 per share and revenue of $25.29 billion. These results would represent year-over-year changes of -33.1% and -22.35%, respectively.
It is also important to note the recent changes to analyst estimates for Canadian Natural Resources. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 9.91% lower. Canadian Natural Resources currently has a Zacks Rank of #3 (Hold).
Investors should also note Canadian Natural Resources's current valuation metrics, including its Forward P/E ratio of 10.27. This represents a premium compared to its industry's average Forward P/E of 6.96.
Also, we should mention that CNQ has a PEG ratio of 0.83. 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 0.54 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 242, putting it in the bottom 4% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Canadian Natural Resources Limited (CNQ) : Free Stock Analysis Report
