CorEnergy (CORR) Dips More Than Broader Markets: What You Should Know
CorEnergy (CORR) closed at $1.56 in the latest trading session, marking a -0.64% move from the prior day. This move lagged the S&P 500's daily loss of 0.47%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, lost 15.51%.
Heading into today, shares of the traded fund had lost 26.64% over the past month, lagging the Finance sector's loss of 2.63% and the S&P 500's loss of 2.53% in that time.
Wall Street will be looking for positivity from CorEnergy as it approaches its next earnings report date. This is expected to be March 7, 2023. In that report, analysts expect CorEnergy to post earnings of $0.41 per share. This would mark year-over-year growth of 392.86%.
Investors should also note any recent changes to analyst estimates for CorEnergy. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CorEnergy is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that CorEnergy has a Forward P/E ratio of 0.95 right now. This represents a discount compared to its industry's average Forward P/E of 11.93.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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CorEnergy Infrastructure Trust, Inc. (CORR) : Free Stock Analysis Report
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