Chesapeake Energy (CHK) closed at $1.47 in the latest trading session, marking no change from the prior day. This change was narrower than the S&P 500's daily loss of 0.08%. Elsewhere, the Dow lost 0.07%, while the tech-heavy Nasdaq lost 0.59%.
Heading into today, shares of the natural gas company had gained 4.26% over the past month, outpacing the Oils-Energy sector's gain of 0.33% and the S&P 500's gain of 2.7% in that time.
CHK will be looking to display strength as it nears its next earnings release, which is expected to be November 5, 2019. In that report, analysts expect CHK to post earnings of -$0.09 per share. This would mark a year-over-year decline of 147.37%. Meanwhile, our latest consensus estimate is calling for revenue of $1.17 billion, down 2.47% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.29 per share and revenue of $4.76 billion, which would represent changes of -132.22% and -7.64%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for CHK. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. The Zacks Consensus EPS estimate has moved 7.95% lower within the past month. CHK is holding a Zacks Rank of #3 (Hold) right now.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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
Chesapeake Energy Corporation (CHK): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.