Cenovus Energy (CVE) Suffers a Larger Drop Than the General Market: Key Insights

Company Overview - Cenovus Energy's stock closed at $13.07, reflecting a decrease of -1.13% from the previous day, which is less than the S&P 500's loss of 0.91% [1] - Over the past month, Cenovus Energy shares have declined by 13.03%, while the Oils-Energy sector and the S&P 500 have lost 4.23% and 7.38%, respectively [1] Upcoming Earnings - Analysts expect Cenovus Energy to report earnings of$ 0.40 per share, indicating a year-over-year decline of 13.04% [2] - The consensus estimate for revenue is $9.53 billion, which represents a 4.11% decrease compared to the same quarter last year [2] Fiscal Year Projections - For the entire fiscal year, earnings are projected at$ 1.63 per share, reflecting a growth of +33.61%, while revenue is expected to be $38.09 billion, showing a decline of -3.95% from the previous year [3] - Recent analyst estimate revisions suggest a changing business outlook, with positive revisions indicating optimism [3] Valuation Metrics - Cenovus Energy is currently trading at a Forward P/E ratio of 8.14, which is lower than the industry average Forward P/E of 9.8 [6] - The Oil and Gas - Integrated - Canadian industry, part of the Oils-Energy sector, has a Zacks Industry Rank of 162, placing it in the bottom 36% of over 250 industries [6] Zacks Rank and Performance - The Zacks Rank system, which evaluates estimate changes, currently ranks Cenovus Energy at 3 (Hold) [5] - The Zacks Consensus EPS estimate has increased by 9.24% in the past month, indicating potential positive sentiment [5]