Wall Street analysts forecast that Coterra Energy (CTRA) will report quarterly earnings of $0.45 per share in its upcoming release, pointing to a year-over-year decline of 8.2%. It is anticipated that revenues will amount to $1.88 billion, exhibiting an increase of 34.6% compared to the year-ago quarter.
The current level reflects a downward revision of 3.1% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
With that in mind, let's delve into the average projections of some Cabot metrics that are commonly tracked and projected by analysts on Wall Street.
It is projected by analysts that the 'Operating revenues- Oil' will reach $988.79 million. The estimate suggests a change of +38.7% year over year.
According to the collective judgment of analysts, 'Operating revenues- Natural gas' should come in at $662.94 million. The estimate suggests a change of +28.5% year over year.
The consensus estimate for 'Operating revenues- NGL' stands at $211.08 million. The estimate indicates a year-over-year change of +4%.
The combined assessment of analysts suggests that 'Operating revenues- Other' will likely reach $28.25 million. The estimate indicates a year-over-year change of +101.8%.
The consensus among analysts is that 'Production Volumes - Total Company - Daily equivalent production' will reach 793.59 thousands of barrels of oil equivalent per day. Compared to the present estimate, the company reported 681.50 thousands of barrels of oil equivalent per day in the same quarter last year.
Based on the collective assessment of analysts, 'Production Volumes - Total Company - Natural gas liquids' should arrive at 139 thousands of barrels of oil. Compared to the current estimate, the company reported 105 thousands of barrels of oil in the same quarter of the previous year.
The average prediction of analysts places 'Production Volumes - Total Company - Natural gas' at . Compared to the present estimate, the company reported in the same quarter last year.
Analysts' assessment points toward 'Production Volumes - Total Company - Oil' reaching 175.68 thousands of barrels of oil per day. The estimate compares to the year-ago value of 113.00 thousands of barrels of oil per day.
Analysts predict that the 'Average sales price (excluding hedges) - Total Company - NGL' will reach 16 dollars per barrel. Compared to the current estimate, the company reported 21 dollars per barrel in the same quarter of the previous year.
Analysts forecast 'Average sales price (including hedges) - Total Company - Oil' to reach 61 dollars per barrel. The estimate is in contrast to the year-ago figure of 69 dollars per barrel.
The collective assessment of analysts points to an estimated 'Average sales price (excluding hedges) - Total Company - Oil' of 58 dollars per barrel. Compared to the present estimate, the company reported 69 dollars per barrel in the same quarter last year.
Analysts expect 'Average sales price (including hedges) - Total Company - NGL' to come in at 16 dollars per barrel. Compared to the current estimate, the company reported 21 dollars per barrel in the same quarter of the previous year.
View all Key Company Metrics for Cabot here>>>
Over the past month, Cabot shares have recorded returns of +12.3% versus the Zacks S&P 500 composite's -1% change. Based on its Zacks Rank #5 (Strong Sell), CTRA will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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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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