Canadian Natural Resources (CNQ) closed the most recent trading day at $46.57, moving -0.34% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.51%. Meanwhile, the Dow lost 1.71%, and the Nasdaq, a tech-heavy index, lost 0.02%.
Coming into today, shares of the oil and natural gas company had lost 13.35% in the past month. In that same time, the Oils-Energy sector lost 13.2%, while the S&P 500 lost 9.52%.
Canadian Natural Resources will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.26, up 60.28% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.4 billion, up 37.08% from the year-ago period.
CNQ's full-year Zacks Consensus Estimates are calling for earnings of $9.15 per share and revenue of $33.67 billion. These results would represent year-over-year changes of +83.37% and +40.25%, respectively.
Any recent changes to analyst estimates for Canadian Natural Resources should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 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 4.93% higher. Canadian Natural Resources is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Canadian Natural Resources is currently trading at a Forward P/E ratio of 5.11. Its industry sports an average Forward P/E of 4.88, so we one might conclude that Canadian Natural Resources is trading at a premium comparatively.
Investors should also note that CNQ has a PEG ratio of 0.56 right now. 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. CNQ's industry had an average PEG ratio of 0.33 as of yesterday's close.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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Canadian Natural Resources Limited (CNQ) : Free Stock Analysis Report
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