Here's Why Crescent Point Energy (CPG) Fell More Than Broader Market

In the latest trading session, Crescent Point Energy (CPG) closed at $8.45, marking a -0.71% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.22%. Elsewhere, the Dow saw an upswing of 0.06%, while the tech-heavy Nasdaq depreciated by 0.52%.

The the stock of oil producer has risen by 7.72% in the past month, leading the Oils-Energy sector's gain of 3.38% and the S&P 500's loss of 1.66%.

Investors will be eagerly watching for the performance of Crescent Point Energy in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.23, signifying a 23.33% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $763.52 million, indicating a 9.61% growth compared to the corresponding quarter of the prior year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.17 per share and a revenue of $3.28 billion, indicating changes of +9.35% and +6.05%, respectively, from the former year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Crescent Point Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.65% higher. Crescent Point Energy presently features a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Crescent Point Energy has a Forward P/E ratio of 7.27 right now. This indicates a discount in contrast to its industry's Forward P/E of 8.43.

The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 21, placing it within the top 9% of over 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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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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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