Coterra Energy (CTRA) closed the most recent trading day at $30.41, moving -2.47% from the previous trading session. This move lagged the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.07%, while the tech-heavy Nasdaq added 0.01%.
Prior to today's trading, shares of the independent oil and gas company had gained 2.2% lagged the Oils-Energy sector's gain of 6.06% and outpaced the S&P 500's loss of 2.26%.
Analysts and investors alike will be keeping a close eye on the performance of Coterra Energy in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.52, showcasing a 35% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $2.04 billion, reflecting a 7.04% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.89 per share and a revenue of $7.7 billion, demonstrating changes of -9.13% and +0.66%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Coterra Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has moved 3.28% lower. Coterra Energy is currently sporting a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Coterra Energy has a Forward P/E ratio of 16.47 right now. This represents a premium compared to its industry average Forward P/E of 15.53.
Also, we should mention that CTRA has a PEG ratio of 0.69. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Exploration and Production - United States industry had an average PEG ratio of 0.69 as trading concluded yesterday.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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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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