The most recent trading session ended with Cameco (CCJ – Free Report) standing at $41.81, reflecting a -1.85% shift from the previouse trading day’s closing. The stock’s change was less than the S&P 500’s daily loss of 0.91%. Meanwhile, the Dow experienced a drop of 1.5%, and the technology-dominated Nasdaq saw a decrease of 1.96%.
Heading into today, shares of the uranium producer had lost 14.17% over the past month, lagging the Basic Materials sector’s loss of 3.32% and the S&P 500’s loss of 7.38% in that time.
The upcoming earnings release of Cameco will be of great interest to investors. In that report, analysts expect Cameco to post earnings of $0.26 per share. This would mark year-over-year growth of 160%.
CCJ’s full-year Zacks Consensus Estimates are calling for earnings of $1.13 per share and revenue of $2.63 billion. These results would represent year-over-year changes of +130.61% and +15.38%, respectively.
Any recent changes to analyst estimates for Cameco should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts’ confidence in the company’s business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we’ve formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 past month, the Zacks Consensus EPS estimate has moved 10.6% lower. Cameco currently has a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Cameco is currently trading at a Forward P/E ratio of 37.7. This indicates a premium in contrast to its industry’s Forward P/E of 12.
The Mining – Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 170, placing it within the bottom 33% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 CCJ in the coming trading sessions, be sure to utilize Zacks.com.
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