Consol Energy (CEIX) Stock Sinks As Market Gains: What You Should Know
Consol Energy (CEIX) closed the most recent trading day at $61.79, moving -1.4% from the previous trading session. This move lagged the S&P 500's daily gain of 1.19%. Meanwhile, the Dow gained 0.76%, and the Nasdaq, a tech-heavy index, added 0.29%.
Prior to today's trading, shares of the coal company had lost 13.68% over the past month. This has lagged the Oils-Energy sector's gain of 5.68% and the S&P 500's gain of 4.06% in that time.
Wall Street will be looking for positivity from Consol Energy as it approaches its next earnings report date. This is expected to be February 7, 2023. On that day, Consol Energy is projected to report earnings of $3.51 per share, which would represent year-over-year growth of 308.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $526.5 million, up 9.54% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Consol Energy. 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. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 22.67% lower. Consol Energy currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Consol Energy is holding a Forward P/E ratio of 2.85. This valuation marks a discount compared to its industry's average Forward P/E of 3.8.
The Coal industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% 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.
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