Yahoo Finance Canadian Natural Resources (CNQ) Stock Sinks As Market Gains: What You Should Know
Canadian Natural Resources (CNQ) closed at $61.09 in the latest trading session, marking a -0.52% move from the prior day. This change lagged the S&P 500's daily gain of 0.09%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 2.51%.
Coming into today, shares of the oil and natural gas company had gained 19.1% in the past month. In that same time, the Oils-Energy sector gained 12.14%, while the S&P 500 gained 6.17%.
Canadian Natural Resources will be looking to display strength as it nears its next earnings release. On that day, Canadian Natural Resources is projected to report earnings of $1.22 per share, which would represent a year-over-year decline of 46.02%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.87 billion, down 30.35% from the year-ago period.
CNQ's full-year Zacks Consensus Estimates are calling for earnings of $5.88 per share and revenue of $23.02 billion. These results would represent year-over-year changes of -31.71% and -29.33%, 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. 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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% higher. Canadian Natural Resources is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Canadian Natural Resources is currently trading at a Forward P/E ratio of 10.44. For comparison, its industry has an average Forward P/E of 6.32, which means Canadian Natural Resources is trading at a premium to the group.
Meanwhile, CNQ's PEG ratio is currently 0.85. 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 0.5 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 188, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
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Canadian Natural Resources Limited (CNQ) : Free Stock Analysis Report
