Yahoo Finance Crescent Point Energy (CPG) Stock Declines While Market Improves: Some Information for Investors
In the latest trading session, Crescent Point Energy (CPG) closed at $8.85, marking a -0.11% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.02%. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, added 0.1%.
Shares of the oil producer have appreciated by 11.59% over the course of the past month, outperforming the Oils-Energy sector's gain of 4.26% and the S&P 500's loss of 3.01%.
Investors will be eagerly watching for the performance of Crescent Point Energy in its upcoming earnings disclosure. On that day, Crescent Point Energy is projected to report earnings of $0.23 per share, which would represent a year-over-year decline of 23.33%. Simultaneously, our latest consensus estimate expects the revenue to be $753.69 million, showing an 8.2% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $1.17 per share and a revenue of $3.25 billion, demonstrating changes of +9.35% and +5.11%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Crescent Point Energy. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.43% higher within the past month. Currently, Crescent Point Energy is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Crescent Point Energy is presently trading at a Forward P/E ratio of 7.59. This valuation marks a discount compared to its industry's average Forward P/E of 8.6.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% 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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Crescent Point Energy Corporation (CPG) : Free Stock Analysis Report
