Yahoo Finance Why Cenovus Energy (CVE) Dipped More Than Broader Market Today
Cenovus Energy (CVE) ended the recent trading session at $17.11, demonstrating a -0.64% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.19%. On the other hand, the Dow registered a gain of 0.09%, and the technology-centric Nasdaq decreased by 0.36%.
The oil company's shares have seen a decrease of 8.06% over the last month, not keeping up with the Oils-Energy sector's loss of 1.95% and the S&P 500's gain of 2.06%.
Analysts and investors alike will be keeping a close eye on the performance of Cenovus Energy in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.56, reflecting a 22.22% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $10.12 billion, showing a 6.89% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $1.84 per share and a revenue of $40.96 billion, demonstrating changes of +17.2% and +5.87%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Cenovus Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.27% lower. Cenovus Energy presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Cenovus Energy is presently being traded at a Forward P/E ratio of 9.35. Its industry sports an average Forward P/E of 11.11, so one might conclude that Cenovus Energy is trading at a discount comparatively.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Cenovus Energy Inc (CVE) : Free Stock Analysis Report
