Cenovus Power (CVE) closed at $15.40 within the newest buying and selling session, marking a +0.39% transfer from the prior day. The inventory outpaced the S&P 500’s day by day lack of 1.54%. Alternatively, the Dow registered a lack of 1.63%, and the technology-centric Nasdaq decreased by 1.63%.
The oil firm’s shares have seen a rise of 1.52% over the past month, surpassing the Oils-Power sector’s lack of 11.05% and the S&P 500’s lack of 2.2%.
The funding neighborhood will likely be intently monitoring the efficiency of Cenovus Power in its forthcoming earnings report. It’s anticipated that the corporate will report an EPS of $0.29, marking stability in comparison with the identical quarter of the earlier yr. On the identical time, our most up-to-date consensus estimate is projecting a income of $10.24 billion, reflecting a 6.18% rise from the equal quarter final yr.
Traders must also be aware of any latest changes to analyst estimates for Cenovus Power. These revisions sometimes mirror the most recent short-term enterprise traits, which might change often. Consequently, upbeat adjustments in estimates point out analysts’ favorable outlook on the corporate’s enterprise well being and profitability.
Our analysis demonstrates that these changes in estimates straight affiliate with imminent inventory worth efficiency. To capitalize on this, we have crafted the Zacks Rank, a singular mannequin that comes with these estimate adjustments and gives a sensible score system.
Starting from #1 (Sturdy Purchase) to #5 (Sturdy Promote), the Zacks Rank system has a confirmed, outside-audited observe report of outperformance, with #1 shares returning a median of +25% yearly since 1988. During the last 30 days, the Zacks Consensus EPS estimate has moved 5.63% decrease. Cenovus Power presently encompasses a Zacks Rank of #3 (Maintain).
Within the context of valuation, Cenovus Power is at current buying and selling with a Ahead P/E ratio of 11.1. This expresses a reduction in comparison with the common Ahead P/E of 13.08 of its trade.
The Oil and Gasoline – Built-in – Canadian trade is a part of the Oils-Power sector. This group has a Zacks Business Rank of 168, placing it within the backside 34% of all 250+ industries.
The Zacks Business Rank evaluates the facility of our distinct trade teams by figuring out the common Zacks Rank of the person shares forming the teams. Our analysis reveals that the highest 50% rated industries outperform the underside half by an element of two to 1.
Make sure you observe all of those stock-moving metrics, and lots of extra, on Zacks.com.
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Cenovus Energy Inc (CVE) : Free Stock Analysis Report
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