Coterra Energy (CTRA) closed the most recent trading day at $24.82, moving -2.32% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.65%. On the other hand, the Dow registered a gain of 0.48%, and the technology-centric Nasdaq increased by 0.82%.
The independent oil and gas company's shares have seen a decrease of 4.08% over the last month, not keeping up with the Oils-Energy sector's gain of 0.68% and the S&P 500's gain of 1.15%.
Market participants will be closely following the financial results of Coterra Energy in its upcoming release. The company's upcoming EPS is projected at $0.59, signifying a 20.41% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.88 billion, up 34.74% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.24 per share and revenue of $7.51 billion, indicating changes of +33.33% and 0%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Coterra Energy. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Coterra Energy is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Coterra Energy is presently being traded at a Forward P/E ratio of 10.07. For comparison, its industry has an average Forward P/E of 10.75, which means Coterra Energy is trading at a discount to the group.
We can also see that CTRA currently has a PEG ratio of 0.36. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Oil and Gas - Exploration and Production - United States industry had an average PEG ratio of 2.96.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 169, finds itself in the bottom 32% echelons of all 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.
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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Coterra Energy Inc. (CTRA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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