Crescent Energy (CRGY) closed at $8.50 in the latest trading session, marking a +1.07% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.44%. On the other hand, the Dow registered a gain of 0.14%, and the technology-centric Nasdaq increased by 0.7%.
Shares of the oil and gas company witnessed a loss of 15.39% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 3.62%, and the S&P 500's gain of 4.03%.
The investment community will be paying close attention to the earnings performance of Crescent Energy in its upcoming release. The company is predicted to post an EPS of $0.32, indicating a 17.95% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $900.88 million, up 20.94% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.53 per share and a revenue of $3.63 billion, representing changes of -14.04% and +23.8%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Crescent Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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, there's been a 6.29% fall in the Zacks Consensus EPS estimate. Right now, Crescent Energy possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Crescent Energy is presently being traded at a Forward P/E ratio of 5.51. This valuation marks a discount compared to its industry average Forward P/E of 20.16.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 28% of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Crescent Energy Company (CRGY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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