In the latest close session, Crescent Energy (CRGY) was down 1.89% at $13.01. Elsewhere, the Dow lost 0.36%, while the tech-heavy Nasdaq added 0.45%.
The oil and gas company's shares have seen a decrease of 4.26% over the last month, not keeping up with the Oils-Energy sector's loss of 0.41% and the S&P 500's gain of 1.27%.
Investors will be eagerly watching for the performance of Crescent Energy in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.56, indicating a 60% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $1.2 billion, reflecting a 38.04% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.57 per share and a revenue of $4.98 billion, representing changes of +42.78% and +39.19%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Crescent Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4.66% higher. As of now, Crescent Energy holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Crescent Energy is currently exchanging hands at a Forward P/E ratio of 5.17. Its industry sports an average Forward P/E of 17.5, so one might conclude that Crescent Energy is trading at a discount comparatively.
The Alternative Energy - Other industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 38% of all 250+ industries.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Crescent Energy Company (CRGY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).