In the latest close session, Crescent Energy (CRGY) was down 1.09% at $11.83. This change lagged the S&P 500's 0.21% loss on the day. Elsewhere, the Dow saw a downswing of 0.07%, while the tech-heavy Nasdaq appreciated by 0.01%.
Heading into today, shares of the oil and gas company had gained 16.12% over the past month, outpacing the Oils-Energy sector's gain of 6.06% and the S&P 500's loss of 2.26%.
The investment community will be closely monitoring the performance of Crescent Energy in its forthcoming earnings report. In that report, analysts expect Crescent Energy to post earnings of $0.45 per share. This would mark a year-over-year decline of 19.64%. In the meantime, our current consensus estimate forecasts the revenue to be $1.17 billion, indicating a 22.9% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.48 per share and a revenue of $4.44 billion, representing changes of -17.78% and +23.91%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Crescent Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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, the Zacks Consensus EPS estimate has moved 12.53% higher. Crescent Energy presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Crescent Energy is at present trading with a Forward P/E ratio of 8.09. This expresses a discount compared to the average Forward P/E of 18.33 of its industry.
The Alternative Energy - Other industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 155, positioning it in the bottom 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.
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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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