Cenovus Energy stock closed lower, underperforming market, with decreased expectations for earnings

From Nasdaq: 2024-09-13 18:15:07

In the latest market close, Cenovus Energy (CVE) closed at $16.20, down 0.25% from the previous day. The stock underperformed the S&P 500, which saw a 0.54% gain. Over the past month, CVE shares have dropped by 18.27%, while the company is expected to report a 26.39% decrease in EPS.

Analysts anticipate Cenovus Energy to report earnings of $0.53 per share and revenue of $10.11 billion, reflecting a 6.93% decline from the previous year. For the entire year, the company is projected to earn $1.85 per share and generate $40.95 billion in revenue, marking increases of 17.83% and 5.84%, respectively.

Investors should monitor any recent revisions to analyst forecasts for Cenovus Energy as they may impact stock price performance. The company currently holds a Zacks Rank of #3 (Hold) and is being traded at a Forward P/E ratio of 8.79, indicating a discount compared to its industry average. The Oil and Gas – Integrated – Canadian industry ranks in the top 38% of all industries.

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Read more at Nasdaq: Cenovus Energy (CVE) Stock Sinks As Market Gains: Here’s Why