Canadian Natural Resources (CNQ) closed the most recent trading day at $53.90, moving -0.02% from the previous trading session. This change lagged the S&P 500's 0.69% gain on the day. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq lost 0.18%.
Coming into today, shares of the oil and natural gas company had lost 3.18% in the past month. In that same time, the Oils-Energy sector lost 0.21%, while the S&P 500 lost 9.94%.
Wall Street will be looking for positivity from Canadian Natural Resources as it approaches its next earnings report date. In that report, analysts expect Canadian Natural Resources to post earnings of $2.34 per share. This would mark year-over-year growth of 65.96%. Meanwhile, our latest consensus estimate is calling for revenue of $8.4 billion, up 37.08% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.73 per share and revenue of $33.67 billion. These totals would mark changes of +74.95% and +40.25%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Canadian Natural Resources. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 1.19% higher within the past month. Canadian Natural Resources is currently a Zacks Rank #2 (Buy).
Investors should also note Canadian Natural Resources's current valuation metrics, including its Forward P/E ratio of 6.18. This valuation marks a premium compared to its industry's average Forward P/E of 5.23.
We can also see that CNQ currently has a PEG ratio of 0.51. 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. The Oil and Gas - Exploration and Production - Canadian was holding an average PEG ratio of 0.31 at yesterday's closing price.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 33, putting it in the top 14% 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.
To follow CNQ in the coming trading sessions, be sure to utilize Zacks.com.
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Canadian Natural Resources Limited (CNQ): Free Stock Analysis Report
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