Cenovus Energy (CVE) Exceeds Market Returns: Some Facts to Consider

Cenovus Energy (CVE) closed at $11.97 in the latest trading session, marking a +1.7% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.63% for the day. Elsewhere, the Dow saw an upswing of 0.21%, while the tech-heavy Nasdaq appreciated by 1.52%.The oil company's shares have seen a decrease of 16.17% over the last month, not keeping up with the Oils-Energy sector's loss of 11.18% and the S&P 500's loss of 0.7%.Analysts and investors alike will be keeping a close eye on the performance of Cenovus Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on May 8, 2025. It is anticipated that the company will report an EPS of $0.29, marking a 36.96% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $9.55 billion, reflecting a 3.91% fall from the equivalent quarter last year.For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.41 per share and a revenue of $38.08 billion, signifying shifts of +15.57% and -3.98%, respectively, from the last year.It is also important to note the recent changes to analyst estimates for Cenovus Energy. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 9.05% decrease. Right now, Cenovus Energy possesses a Zacks Rank of #3 (Hold).Investors should also note Cenovus Energy's current valuation metrics, including its Forward P/E ratio of 8.36. This valuation marks a discount compared to its industry's average Forward P/E of 10.38.The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 50, this industry ranks in the top 21% of all industries, numbering over 250.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow CVE in the coming trading sessions, be sure to utilize Zacks.com.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cenovus Energy Inc (CVE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks