Crescent Energy (CRGY) closed the most recent trading day at $8.60, moving -3.91% from the previous trading session. This change lagged the S&P 500's 0.52% gain on the day. On the other hand, the Dow registered a gain of 0.63%, and the technology-centric Nasdaq increased by 0.48%.
Heading into today, shares of the oil and gas company had gained 6.67% over the past month, outpacing the Oils-Energy sector's gain of 3.92% and the S&P 500's gain of 4.27%.
The investment community will be paying close attention to the earnings performance of Crescent Energy in its upcoming release. On that day, Crescent Energy is projected to report earnings of $0.17 per share, which would represent a year-over-year decline of 45.16%. Our most recent consensus estimate is calling for quarterly revenue of $877.96 million, up 34.39% from the year-ago period.
CRGY's full-year Zacks Consensus Estimates are calling for earnings of $1.35 per share and revenue of $3.65 billion. These results would represent year-over-year changes of -24.16% and +24.67%, respectively.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate has moved 15.3% higher within the past month. Right now, Crescent Energy possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Crescent Energy has a Forward P/E ratio of 6.64 right now. This represents a discount compared to its industry average Forward P/E of 19.71.
The Alternative Energy - Other industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 161, this industry ranks in the bottom 35% of all industries, numbering over 250.
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.
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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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