In the latest trading session, Crescent Energy (CRGY) closed at $10.00, marking a -1.19% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.18%. On the other hand, the Dow registered a gain of 0.59%, and the technology-centric Nasdaq increased by 2.07%.
The oil and gas company's shares have seen a decrease of 12.46% over the last month, not keeping up with the Oils-Energy sector's loss of 7.93% and the S&P 500's loss of 2.9%.
Market participants will be closely following the financial results of Crescent Energy in its upcoming release. The company is predicted to post an EPS of $0.62, indicating a 44.19% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.24 billion, up 37.92% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.47 per share and revenue of $4.86 billion. These totals would mark changes of +37.22% and +35.87%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Crescent Energy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.25% higher within the past month. As of now, Crescent Energy holds a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Crescent Energy has a Forward P/E ratio of 4.11 right now. This signifies a discount in comparison to the average Forward P/E of 17.67 for its industry.
The Alternative Energy - Other industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 110, this industry ranks in the top 46% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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Crescent Energy Company (CRGY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).