Canadian Natural Resources (CNQ) closed the most recent trading day at $54.01, moving +0.41% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.03%. Elsewhere, the Dow lost 1.15%, while the tech-heavy Nasdaq added 0.33%.
Prior to today's trading, shares of the oil and natural gas company had gained 2.36% over the past month. This has outpaced the Oils-Energy sector's of 0% and the S&P 500's loss of 3.51% in that time.
Investors will be hoping for strength from Canadian Natural Resources as it approaches its next earnings release. In that report, analysts expect Canadian Natural Resources to post earnings of $2.05 per share. This would mark year-over-year growth of 45.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.18 billion, up 33.62% from the year-ago period.
Looking at 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 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.78% higher. Canadian Natural Resources is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Canadian Natural Resources is holding a Forward P/E ratio of 6.1. This represents a premium compared to its industry's average Forward P/E of 5.52.
Meanwhile, CNQ's PEG ratio is currently 0.67. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Exploration and Production - Canadian stocks are, on average, holding a PEG ratio of 0.4 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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