Cheniere Energy (LNG) Gains As Market Dips: What You Should Know

The most recent trading session ended with Cheniere Energy (LNG) standing at $161.97, reflecting a +0.96% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 0.88% for the day. On the other hand, the Dow registered a gain of 0.56%, and the technology-centric Nasdaq decreased by 2.05%.

Heading into today, shares of the natural gas company had gained 0.47% over the past month, lagging the Oils-Energy sector's gain of 2.78% and outpacing the S&P 500's loss of 2.57% in that time.

Investors will be eagerly watching for the performance of Cheniere Energy in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 3, 2024. The company is predicted to post an EPS of $2.30, indicating a 66.62% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $4.14 billion, down 43.4% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $8.39 per share and revenue of $16.59 billion, indicating changes of -79.4% and -18.63%, respectively, compared to the previous year.

Investors should also pay attention to any latest changes in analyst estimates for Cheniere Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 12.99% decrease. Cheniere Energy presently features a Zacks Rank of #3 (Hold).

Investors should also note Cheniere Energy's current valuation metrics, including its Forward P/E ratio of 19.12. This represents a premium compared to its industry's average Forward P/E of 10.69.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 195, which puts it in the bottom 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.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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