Yahoo Finance CVR Energy (CVI) Outpaces Stock Market Gains: What You Should Know
CVR Energy (CVI) closed at $27.58 in the latest trading session, marking a +1.81% move from the prior day. This move outpaced the S&P 500's daily gain of 0.09%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq lost 4.87%.
Coming into today, shares of the diversified holding company had lost 8.32% in the past month. In that same time, the Oils-Energy sector gained 5.13%, while the S&P 500 gained 3.31%.
CVR Energy will be looking to display strength as it nears its next earnings release, which is expected to be May 1, 2023. The company is expected to report EPS of $0.95, up 4650% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.23 billion, down 5.98% from the year-ago period.
CVI's full-year Zacks Consensus Estimates are calling for earnings of $3.98 per share and revenue of $9.53 billion. These results would represent year-over-year changes of -34.11% and -12.52%, respectively.
Any recent changes to analyst estimates for CVR Energy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Within the past 30 days, our consensus EPS projection has moved 15.22% higher. CVR Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, CVR Energy is holding a Forward P/E ratio of 6.82. This represents a premium compared to its industry's average Forward P/E of 6.26.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% 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.
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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CVR Energy Inc. (CVI) : Free Stock Analysis Report
