CNX Resource Corporation. (CNX) Wins But Staggers the Market: What You Need to Know
VSNX Resources Corporation. (CNX) closed at $18.56 last trading session, marking a +0.87% move from the previous day. The stock lagged the S&P 500 daily gain of 0.99%. Meanwhile, the Dow Jones gained 0.51% and the tech-heavy Nasdaq lost 0.31%.
As of today, the company’s shares have gained 6.98% over the past month. Meanwhile, the Oil & Energy sector gained 0.86%, while the S&P 500 gained 7.91%.
Wall Street will be looking for positivity from CNX Resources Corporation. closer to the next earnings release date. This should be July 28, 2022. On this day, CNX Resources Corporation. is expected to report earnings of $0.79 per share, which would represent 338.89% year-over-year growth. Meanwhile, Zacks consensus estimate for revenue calls for net sales of $532.47 million, up 48.32% from the prior year period.
Looking to the full year, our Zacks consensus estimates suggest analysts are expecting earnings of $3.15 per share and revenue of $2.1 billion. These totals would mark changes of +95.65% and +20.96%, respectively, from last year.
It is also important to note recent changes to analyst estimates for CNX Resources Corporation. Recent revisions tend to reflect the latest short-term trading trends. Therefore, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Research indicates that these revisions to estimates are directly correlated to near-term stock price dynamics. To benefit from this, we have developed the Zacks Rank, a proprietary model that takes into account these estimation changes and provides an actionable rating system.
The Zacks ranking system ranges from #1 (strong buy) to #5 (strong sell). It has a remarkable track record of third-party audited success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has risen 4.77% . CNX Resource Corporation. currently sports a Zacks rank of #2 (buy).
Valuation is also important, so investors should note that CNX Resources Corporation. has a forward P/E ratio of 5.85 right now. This represents a premium to its industry average Forward P/E of 4.46.
We can also see that CNX currently has a PEG ratio of 0.18. The PEG ratio is similar to the widely used P/E ratio, but this measure also takes into account the company’s expected earnings growth rate. Oil & Gas – Exploration & Production – US stocks maintain an average PEG ratio of 0.21 based on yesterday’s closing prices.
The Oil and Gas – Exploration and Production – United States industry is part of the Oil & Energy sector. This group has a Zacks industry ranking of 17, which places it in the top 7% of over 250 industries.
The Zacks Industry Rankings are ranked from best to worst in terms of the average Zacks Ranking of individual companies in each of these industries. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these 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.