Crescent Energy (CRGY) closed at $9.06 in the latest trading session, marking a -7.27% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.26%. Elsewhere, the Dow saw an upswing of 0.15%, while the tech-heavy Nasdaq appreciated by 0.48%.
Shares of the oil and gas company witnessed a gain of 2.41% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 4.06%, and the S&P 500's gain of 2.87%.
The investment community will be closely monitoring the performance of Crescent Energy in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.33, marking a 15.38% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $900.28 million, indicating a 20.86% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.53 per share and revenue of $3.63 billion, which would represent changes of -14.04% and +23.8%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Crescent Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, there's been a 3.85% rise in the Zacks Consensus EPS estimate. Crescent Energy is currently a Zacks Rank #3 (Hold).
In terms of valuation, Crescent Energy is currently trading at a Forward P/E ratio of 6.4. This represents a discount compared to its industry average Forward P/E of 20.38.
The Alternative Energy – Other industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 175, positioning it in the bottom 30% of all 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.
