Crescent Energy (CRGY – Free Report) closed the most recent trading day at $15.73, moving +0.06% from the previous trading session. The stock’s change was less than the S&P 500’s daily gain of 0.16%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Heading into today, shares of the oil and gas company had gained 6.43% over the past month, outpacing the Oils-Energy sector’s loss of 11.11% and the S&P 500’s loss of 2.7% in that time.
The investment community will be paying close attention to the earnings performance of Crescent Energy in its upcoming release. The company’s upcoming EPS is projected at $0.37, signifying a 36.21% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $890.99 million, indicating a 35.46% upward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for Crescent Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts’ positivity towards the company’s business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. Crescent Energy is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Crescent Energy is presently being traded at a Forward P/E ratio of 8.85. This denotes a discount relative to the industry’s average Forward P/E of 17.64.
The Alternative Energy – Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 91, placing it within the top 37% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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