Crescent Point Energy Corp. (CPG) added 4.31% to reach at the floor price of $15.74 as the company is set to share its latest quarterly earnings prior to opening bell on May 12, 2016. CPG stock trades between $15.18 and $15.8 before the earnings release. Let’s take a closer look at the March 2016 earnings estimates, particularly the things investors should pay close attention to. Earnings (EPS) for the recently concluded quarter is projected to come in at -$0.15/share with $495.57M in revenue.
Earnings Track Record: If history is anything to go by, Crescent Point Energy Corp. (CPG) managed to beat quarterly EPS forecasts in 3 of the trailing three fiscal years, and has a positive trend with an average surprise of 25%. Last time the company reported, Crescent Point Energy Corp. generated $0.41 in earnings per share, surpassing the mean forecast of -$0.02. Revenues reached $680.12M in the December 2015 quarter, which was lower than the consensus $760.5M projection. On the other hand, in the September 2015 quarter it recorded a net $730.29M revenue with EPS of $0.34. Wall Street had projected $784.37M and $0.02, respectively. For comparison, there was a revenue of $776.16M and earnings of -$0.53 in the June 2015 quarter.
Future Earnings: After upcoming financial results, all eyes will be on the outlook or guidance for the next reporting quarter (June 2016). Analysts, on average, predict Crescent Point Energy Corp. to earn -$0.07 in earnings per share (EPS) on revenue of $495.57M. The earnings-per-share consensus range is -$0.17-$0.04 on sales between $495.57M and $495.57M.
Stock Trend vs. Analyst View: The stock is trading up 102.81 percent versus 1-year low of $7.82 and stands -34.22 lower from its peak of $25.13. The consensus price target of $17.02 means that the market expects Company shares to increase by 8.13% in the short run. The sell-side target prices range from $17.02 to $17.02. In the last month the stock has moved in price 10.22%, with a one year change of -31.88%.
Recent Analyst Rating Changes: The buoyancy in the prospect of Crescent Point Energy Corp. (CPG) is getting weaker by the somewhat negative sentiment (2 on a 5-point scale) that brokerage firms have issued concerning it. Wall Street analysts on the average recommend the company shares as Overweight. Barclays has been covering shares of CPG, so it’s most recent view is worth a look. In a research note released on October 29, 2015, analysts at Barclays lifted the stock to Overweight from Equal Weight. Another noteworthy analyst activity was recorded on July 22, 2015. Barclays analysts downgraded the stock to Equal Weight from Overweight.