Yahoo Finance Cheniere Energy (LNG) Gains As Market Dips: What You Should Know
Cheniere Energy (LNG) closed the latest trading day at $159.36, indicating a +1.23% change from the previous session's end. This move outpaced the S&P 500's daily loss of 0.46%. Meanwhile, the Dow lost 0.98%, and the Nasdaq, a tech-heavy index, lost 0.64%.
Prior to today's trading, shares of the natural gas company had lost 2.31% over the past month. This has lagged the Oils-Energy sector's gain of 4.21% and was narrower than the S&P 500's loss of 3.04% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Cheniere Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on May 3, 2024. The company's upcoming EPS is projected at $2.34, signifying a 66.04% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $4.16 billion, indicating a 43.03% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $8.39 per share and a revenue of $16.59 billion, demonstrating changes of -79.4% and -18.63%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Cheniere Energy. 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 6.53% decrease. Cheniere Energy presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Cheniere Energy has a Forward P/E ratio of 18.76 right now. Its industry sports an average Forward P/E of 10.37, so one might conclude that Cheniere Energy is trading at a premium comparatively.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 152, placing it within the bottom 40% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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Cheniere Energy, Inc. (LNG) : Free Stock Analysis Report
