U.S. Markets open in 5 hrs 56 mins
  • S&P Futures

    4,263.25
    -17.75 (-0.41%)
     
  • Dow Futures

    33,600.00
    -118.00 (-0.35%)
     
  • Nasdaq Futures

    13,515.75
    -62.00 (-0.46%)
     
  • Russell 2000 Futures

    2,006.90
    -10.00 (-0.50%)
     
  • Crude Oil

    90.80
    -1.29 (-1.40%)
     
  • Gold

    1,803.50
    -12.00 (-0.66%)
     
  • Silver

    20.53
    -0.17 (-0.81%)
     
  • EUR/USD

    1.0243
    -0.0015 (-0.14%)
     
  • 10-Yr Bond

    2.8490
    0.0000 (0.00%)
     
  • Vix

    20.76
    +0.56 (+2.77%)
     
  • GBP/USD

    1.2095
    -0.0044 (-0.36%)
     
  • USD/JPY

    133.4240
    -0.0560 (-0.04%)
     
  • BTC-USD

    24,097.92
    -773.56 (-3.11%)
     
  • CMC Crypto 200

    573.28
    +2.00 (+0.35%)
     
  • FTSE 100

    7,527.12
    +26.23 (+0.35%)
     
  • Nikkei 225

    28,871.78
    +324.80 (+1.14%)
     

Canadian Natural Resources (CNQ) Stock Sinks As Market Gains: What You Should Know

  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

In the latest trading session, Canadian Natural Resources (CNQ) closed at $50.49, marking a -1.1% move from the previous day. This change lagged the S&P 500's daily gain of 0.99%. Elsewhere, the Dow gained 0.51%, while the tech-heavy Nasdaq lost 0.38%.

Heading into today, shares of the oil and natural gas company had lost 1.92% over the past month, lagging the Oils-Energy sector's gain of 0.86% and the S&P 500's gain of 7.91% in that time.

Canadian Natural Resources will be looking to display strength as it nears its next earnings release. In that report, analysts expect Canadian Natural Resources to post earnings of $2.08 per share. This would mark year-over-year growth of 105.94%. Meanwhile, our latest consensus estimate is calling for revenue of $7.84 billion, up 47.68% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $8.51 per share and revenue of $32.83 billion, which would represent changes of +70.54% and +36.75%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Canadian Natural Resources. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 1.51% lower within the past month. Canadian Natural Resources is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, Canadian Natural Resources is currently trading at a Forward P/E ratio of 6. Its industry sports an average Forward P/E of 4.92, 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 0.5 right now. 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 industry currently had an average PEG ratio of 0.31 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 237, putting it in the bottom 6% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Canadian Natural Resources Limited (CNQ) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.