Yahoo Finance CNX Resources Corporation. (CNX) Gains As Market Dips: What You Should Know
CNX Resources Corporation. (CNX) closed the most recent trading day at $17.35, moving +0.41% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.07%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 0.06%.
Heading into today, shares of the company had gained 9.78% over the past month, outpacing the Oils-Energy sector's gain of 1.76% and the S&P 500's loss of 3.49% in that time.
CNX Resources Corporation. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.74, unchanged from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $548.08 million, up 20.46% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.86 per share and revenue of $2.09 billion. These totals would mark changes of +77.64% and +20.29%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for CNX Resources Corporation.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. CNX Resources Corporation. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, CNX Resources Corporation. is currently trading at a Forward P/E ratio of 6.03. For comparison, its industry has an average Forward P/E of 5.1, which means CNX Resources Corporation. is trading at a premium to the group.
Also, we should mention that CNX has a PEG ratio of 0.19. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.23 as of yesterday's close.
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 91, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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