Canadian Natural Resources (CNQ – Free Report) closed the most recent trading day at $54.01, +0.41% from the previous trading session. That move topped the S&P 500’s 1.03% daily loss. Elsewhere, the Dow Jones lost 1.15%, while the tech-heavy Nasdaq added 0.33%.
Prior to today’s session, shares of the oil and gas company had gained 2.36% in the past month. This outpaced the Oil & Energy sector by 0% and the S&P 500’s loss by 3.51% during this period.
Investors are hoping for strength from Canadian Natural Resources as it nears its next earnings release. In that report, analysts expect Canadian Natural Resources to post earnings of $2.05 per share. This would mark a year-over-year growth of 45.39%. Meanwhile, Zacks’ consensus estimate for revenue calls for net sales of $8.18 billion, up 33.62% from the prior year period.
Looking to the full year, our Zacks consensus estimates suggest analysts are expecting earnings of $8.82 per share and revenue of $32.82 billion. These totals would mark changes of +76.75% and +36.74%, respectively, from last year.
Any recent changes to analyst estimates for Canadian Natural Resources should also be noted by investors. These revisions help show the ever-changing nature of short-term trading trends. With this in mind, we can view positive estimate revisions as a sign of optimism about the company’s business outlook.
Our research shows that these estimate changes are directly correlated to short-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model that takes into account these estimation changes and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven track record of outperformance, with #1 stocks returning an average of +25% per year since 1988. In the past 30 days, our consensus EPS projection has increased by 1.78%. Canadian Natural Resources currently sports a Zacks ranking of #3 (Hold).
As for its valuation, Canadian Natural Resources holds a forward P/E ratio of 6.1. This represents a premium to its industry average Forward P/E of 5.52.
Meanwhile, CNQ’s PEG ratio is currently 0.67. This measure is used in the same way as the famous P/E ratio, but the PEG ratio also takes into account the growth rate of the stock’s expected earnings. Oil & Gas – Exploration & Production – Canadian stocks maintain an average PEG ratio of 0.4 based on yesterday’s closing prices.
The Oil and Gas – Exploration and Production – Canada industry is part of the Oil & Energy sector. This industry currently has a Zacks Industry Rank of 200, which places it in the bottom 21% of all 250+ industries.
The Zacks Industry Ranking assesses the strength of our individual industry groups by measuring the average Zacks Ranking of individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
Be sure to track all of these stock movement metrics, and more, at Zacks.com.