In the latest trading session, CNX Midstream (CNXM) closed at $14.05, marking no change from the previous day. This change lagged the S&P 500's 0.91% gain on the day. Elsewhere, the Dow gained 1.22%, while the tech-heavy Nasdaq added 1%.
Prior to today's trading, shares of the natural gas assets owner had lost 2.7% over the past month. This has was narrower than the Oils-Energy sector's loss of 4.55% and lagged the S&P 500's gain of 1.65% in that time.
CNXM will be looking to display strength as it nears its nex t earnings release. On that day, CNXM is projected to report earnings of $0.58 per share, which would represent a year-over-year decline of 1.69%. Our most recent consensus estimate is calling for quarterly revenue of $75.80 million, up 7.03% from the year-ago period.
CNXM's full-year Zacks Consensus Estimates are calling for earnings of $2.27 per share and revenue of $300.10 million. These results would represent year-over-year changes of +20.11% and +16.92%, respectively.
Investors should also note any recent changes to analyst estimates for CNXM. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.58% higher. CNXM is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, CNXM currently has a Forward P/E ratio of 6.19. This represents a discount compared to its industry's average Forward P/E of 11.85.
The Energy and Pipeline - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 25, which puts it in the top 10% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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