CNX Resource Corporation. (CNX) Plunges More Than Broader Markets: What You Need to Know
IIn the last trading session, CNX Resources Corporation. (CNX) closed at $16.19, marking a -0.37% move from the previous day. This change lagged the S&P 500’s 0.08% loss on the day. Meanwhile, the Dow Jones lost 0.15% and the tech-heavy Nasdaq lost 0.04%.
Today, shares of the company were down 30.17% over the past month. At the same time, the Oil & Energy sector lost 19.96%, while the S&P 500 lost 6.03%.
Wall Street will be looking for positivity from CNX Resources Corporation. as the next earnings release date approaches. That is expected to be July 28, 2022. The company is expected to report EPS of $0.77, up 327.78% from the prior year quarter. Meanwhile, Zacks consensus estimate for revenue calls for net sales of $523.46 million, up 45.81% from the prior year period.
Looking to the full year, our Zacks consensus estimates suggest analysts are expecting earnings of $3 per share and revenue of $2.07 billion. These totals would mark changes of +86.34% and +19.56%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for CNX Resources Corporation. Recent revisions tend to reflect the latest short-term trading trends. Thus, positive revisions to estimates reflect analysts’ optimism about the company’s business and profitability.
Research indicates that these revisions to estimates are directly correlated to near-term stock price dynamics. Investors can take advantage of this by using the Zacks ranking. This model accounts for these estimation changes and provides a simple and actionable scoring system.
The Zacks ranking system ranges from #1 (strong buy) to #5 (strong sell). It has a remarkable, externally audited track record of success with #1 stocks delivering an average annual return of +25% since 1988. Over the past 30 days, our consensus EPS projection has remained stagnant. CNX Resource Corporation. holds a Zacks rank of #1 (Strong Buy) at this time.
Digging into the assessment, CNX Resources Corporation. currently has a forward P/E ratio of 5.41. This represents a premium to its industry average Forward P/E of 4.24.
We can also see that CNX currently has a PEG ratio of 0.27. This popular measure is similar to the widely known P/E ratio, except that the PEG ratio also takes into account the company’s expected earnings growth rate. The Oil & Gas – Exploration & Production – US segment currently had an average PEG ratio of 0.21 as of yesterday’s close.
The Oil and Gas – Exploration and Production – United States industry is part of the Oil & Energy sector. This industry currently has a Zacks industry ranking of 10, which places it in the top 4% of over 250 industries.
The Zacks Industry Ranking assesses the strength of our industry groups by measuring the average Zacks Ranking of individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
Be sure to track all of these stock movement metrics, and more, at Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.