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In the latest trading session, Chesapeake Energy (CHK) closed at $0.19, marking a -0.11% move from the previous day. This move was narrower than the S&P 500's daily loss of 4.34%. Meanwhile, the Dow lost 4.55%, and the Nasdaq, a tech-heavy index, lost 3.79%.
Heading into today, shares of the natural gas company had lost 60.3% over the past month, lagging the Oils-Energy sector's loss of 51.4% and the S&P 500's loss of 28.78% in that time.
Investors will be hoping for strength from CHK as it approaches its next earnings release. The company is expected to report EPS of -$0.08, down 157.14% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.13 billion, up 22.07% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.37 per share and revenue of $4.16 billion, which would represent changes of -37.04% and -7.99%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for CHK. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 29.57% lower. CHK is holding a Zacks Rank of #3 (Hold) right now.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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