Crescent Energy (CRGY) closed at $12.98 in the latest trading session, marking a -1.29% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.77% for the day. Elsewhere, the Dow saw a downswing of 0.67%, while the tech-heavy Nasdaq depreciated by 0.92%.
Coming into today, shares of the oil and gas company had lost 2.88% in the past month. In that same time, the Oils-Energy sector gained 1.13%, while the S&P 500 gained 0.96%.
Analysts and investors alike will be keeping a close eye on the performance of Crescent Energy in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.51, indicating a 45.71% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $1.15 billion, showing a 32.62% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $2.78 per share and a revenue of $4.91 billion, demonstrating changes of +54.44% and +37.13%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Crescent Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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, the Zacks Consensus EPS estimate has moved 24.63% higher. Currently, Crescent Energy is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Crescent Energy is holding a Forward P/E ratio of 4.74. This denotes a discount relative to the industry average Forward P/E of 17.61.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 38% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Crescent Energy Company (CRGY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).