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Canadian Natural Resources (CNQ) closed at $53.05 in the latest trading session, marking a +0.51% move from the prior day. This move outpaced the S&P 500's daily loss of 0.97%. At the same time, the Dow lost 0.96%, and the tech-heavy Nasdaq gained 0.23%.
Heading into today, shares of the oil and natural gas company had gained 32.58% over the past month, outpacing the Oils-Energy sector's gain of 14.52% and the S&P 500's loss of 0.78% in that time.
Wall Street will be looking for positivity from Canadian Natural Resources as it approaches its next earnings report date. This is expected to be March 3, 2022. In that report, analysts expect Canadian Natural Resources to post earnings of $1.53 per share. This would mark year-over-year growth of 1175%. Meanwhile, our latest consensus estimate is calling for revenue of $7.19 billion, up 86.76% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Canadian Natural Resources. These recent revisions tend to reflect the evolving nature of short-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 1.05% lower within the past month. Canadian Natural Resources is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Canadian Natural Resources is holding a Forward P/E ratio of 10.15. This valuation marks a premium compared to its industry's average Forward P/E of 5.94.
It is also worth noting that CNQ currently has a PEG ratio of 0.7. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Exploration and Production - Canadian was holding an average PEG ratio of 0.7 at yesterday's closing price.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 185, putting it in the bottom 28% 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
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