In the latest trading session, Canadian Natural Resources (CNQ) closed at $51.20, marking a +1.21% move from the previous day. This move outpaced the S&P 500's daily loss of 0.54%. At the same time, the Dow lost 0.02%, and the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the oil and natural gas company had gained 20.74% over the past month, outpacing the Oils-Energy sector's gain of 10.99% and the S&P 500's loss of 7.87% in that time.
Wall Street will be looking for positivity from Canadian Natural Resources as it approaches its next earnings report date. This is expected to be March 3, 2022. On that day, Canadian Natural Resources is projected to report earnings of $1.51 per share, which would represent year-over-year growth of 1158.33%. Meanwhile, our latest consensus estimate is calling for revenue of $7.19 billion, up 86.76% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Canadian Natural Resources. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.62% lower within the past month. Canadian Natural Resources is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Canadian Natural Resources is holding a Forward P/E ratio of 9.69. This represents a premium compared to its industry's average Forward P/E of 5.45.
Meanwhile, CNQ's PEG ratio is currently 0.68. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Exploration and Production - Canadian stocks are, on average, holding a PEG ratio of 0.68 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 39, which puts it in the top 16% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Canadian Natural Resources Limited (CNQ) : Free Stock Analysis Report
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