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CVR Energy (CVI) Exceeds Market Returns: Some Facts to Consider

CVR Energy (CVI) ended the recent trading session at $33.69, demonstrating a +1.78% swing from the preceding day's closing price. This change outpaced the S&P 500's 1.2% gain on the day. Meanwhile, the Dow experienced a rise of 0.69%, and the technology-dominated Nasdaq saw an increase of 1.59%.

Shares of the diversified holding company have depreciated by 8.46% over the course of the past month, underperforming the Oils-Energy sector's gain of 3.58% and the S&P 500's loss of 4.16%.

The investment community will be closely monitoring the performance of CVR Energy in its forthcoming earnings report. The company is scheduled to release its earnings on April 29, 2024. The company's earnings per share (EPS) are projected to be $0.13, reflecting a 90.97% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.98 billion, indicating a 13.5% decrease compared to the same quarter of the previous year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.73 per share and revenue of $8.32 billion, indicating changes of -51.6% and -9.99%, respectively, compared to the previous year.

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Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for CVR Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 3.81% rise in the Zacks Consensus EPS estimate. CVR Energy is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, CVR Energy currently has a Forward P/E ratio of 12.15. For comparison, its industry has an average Forward P/E of 11.92, which means CVR Energy is trading at a premium to the group.

The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 44, placing it within the top 18% of over 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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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CVR Energy Inc. (CVI) : Free Stock Analysis Report

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