Crescent Energy (CRGY) closed the most recent trading day at $9.78, moving +2.73% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.13%. Meanwhile, the Dow lost 1.79%, and the Nasdaq, a tech-heavy index, lost 1.3%.
Coming into today, shares of the oil and gas company had gained 3.59% in the past month. In that same time, the Oils-Energy sector gained 5.03%, while the S&P 500 gained 3.55%.
Investors will be eagerly watching for the performance of Crescent Energy in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.23, marking a 25.81% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $877.96 million, up 34.39% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $1.67 per share and a revenue of $3.65 billion, demonstrating changes of -6.18% and +24.67%, respectively, from the preceding year.
Any recent changes to analyst estimates for Crescent Energy should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.07% higher. At present, Crescent Energy boasts a Zacks Rank of #4 (Sell).
Investors should also note Crescent Energy's current valuation metrics, including its Forward P/E ratio of 5.71. This expresses a discount compared to the average Forward P/E of 19.9 of its industry.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming 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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