Yahoo Finance Canadian Natural Resources (CNQ) Stock Moves -0.24%: What You Should Know
Canadian Natural Resources (CNQ) closed at $57.76 in the latest trading session, marking a -0.24% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.61%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.67%.
Heading into today, shares of the oil and natural gas company had gained 6.18% over the past month, outpacing the Oils-Energy sector's gain of 3.44% and lagging the S&P 500's gain of 8.32% in that time.
Canadian Natural Resources will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.61, down 8.52% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.04 billion, down 4.25% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Canadian Natural Resources. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 16.05% lower. Canadian Natural Resources is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Canadian Natural Resources is currently trading at a Forward P/E ratio of 8.96. Its industry sports an average Forward P/E of 7.19, 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 0.73 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 0.45 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 241, putting it in the bottom 5% 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.
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
