Crescent Energy (crgy) Exceeds Market Returns: Some Facts To Consider

Crescent Energy (CRGY) closed the latest trading day at $10.72, indicating a +2% change from the previous session's end. The stock exceeded the S&P 500, which registered a gain of 0.49% for the day. Elsewhere, the Dow saw a downswing of 0.2%, while the tech-heavy Nasdaq appreciated by 1.22%.

Heading into today, shares of the oil and gas company had lost 30.03% over the past month, lagging the Oils-Energy sector's loss of 6.96% and the S&P 500's loss of 8.15% in that time.

The upcoming earnings release of Crescent Energy will be of great interest to investors. On that day, Crescent Energy is projected to report earnings of $0.54 per share, which would represent year-over-year growth of 17.39%. Meanwhile, the latest consensus estimate predicts the revenue to be $956.42 million, indicating a 45.47% increase compared to the same quarter of the previous year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.21 per share and a revenue of $3.86 billion, indicating changes of +24.16% and +31.64%, respectively, from the former year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Crescent Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.15% higher. Currently, Crescent Energy is carrying a Zacks Rank of #2 (Buy).

In terms of valuation, Crescent Energy is presently being traded at a Forward P/E ratio of 4.76. This expresses a discount compared to the average Forward P/E of 18.47 of its industry.

The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 73, putting it in the top 30% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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This article originally published on Zacks Investment Research (zacks.com).

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