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Crescent Energy (CRGY) Stock Drops Despite Market Gains: Important Facts to Note
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Crescent Energy (CRGY - Free Report) closed the latest trading day at $15.09, indicating a -0.98% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.39%. Elsewhere, the Dow gained 0.71%, while the tech-heavy Nasdaq added 0.2%.
Heading into today, shares of the oil and gas company had lost 3.05% over the past month, lagging the Oils-Energy sector's gain of 1.79% and the S&P 500's gain of 1.7% in that time.
Investors will be eagerly watching for the performance of Crescent Energy in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.31, showcasing a 46.55% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $891.2 million, showing a 35.5% escalation compared to the year-ago quarter.
Investors should also pay attention to any latest changes in analyst estimates for Crescent Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 24.01% increase. Crescent Energy is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Crescent Energy has a Forward P/E ratio of 6.92 right now. This indicates a discount in contrast to its industry's Forward P/E of 20.17.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 60, placing it within the top 24% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Crescent Energy (CRGY) Stock Drops Despite Market Gains: Important Facts to Note
Crescent Energy (CRGY - Free Report) closed the latest trading day at $15.09, indicating a -0.98% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.39%. Elsewhere, the Dow gained 0.71%, while the tech-heavy Nasdaq added 0.2%.
Heading into today, shares of the oil and gas company had lost 3.05% over the past month, lagging the Oils-Energy sector's gain of 1.79% and the S&P 500's gain of 1.7% in that time.
Investors will be eagerly watching for the performance of Crescent Energy in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.31, showcasing a 46.55% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $891.2 million, showing a 35.5% escalation compared to the year-ago quarter.
Investors should also pay attention to any latest changes in analyst estimates for Crescent Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 24.01% increase. Crescent Energy is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Crescent Energy has a Forward P/E ratio of 6.92 right now. This indicates a discount in contrast to its industry's Forward P/E of 20.17.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 60, placing it within the top 24% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.