In the latest trading session, Coterra Energy (CTRA) closed at $26.70, marking a +2.14% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.13%. On the other hand, the Dow registered a loss of 1.79%, and the technology-centric Nasdaq decreased by 1.3%.
Coming into today, shares of the independent oil and gas company had gained 5.87% in the past month. In that same time, the Oils-Energy sector gained 5.03%, while the S&P 500 gained 3.55%.
Market participants will be closely following the financial results of Coterra Energy in its upcoming release. The company is forecasted to report an EPS of $0.51, showcasing a 37.84% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.76 billion, indicating a 38.54% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.59 per share and a revenue of $7.59 billion, signifying shifts of +54.17% and +39.14%, respectively, from the last year.
Any recent changes to analyst estimates for Coterra Energy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.89% lower within the past month. Right now, Coterra Energy possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Coterra Energy is currently exchanging hands at a Forward P/E ratio of 10.11. This indicates a discount in contrast to its industry's Forward P/E of 11.19.
It is also worth noting that CTRA currently has a PEG ratio of 0.35. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Oil and Gas - Exploration and Production - United States industry was having an average PEG ratio of 2.55.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 172, placing it within the bottom 31% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming 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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