Cameco (CCJ) Stock Dips While Market Gains: Key Facts

In the latest trading session, Cameco (CCJ) closed at $101.86, marking a -1.56% move from the previous day. This change lagged the S&P 500's 0.79% gain on the day. On the other hand, the Dow registered a gain of 0.26%, and the technology-centric Nasdaq increased by 1.52%. Heading into today, shares of the uranium producer had lost 8.1% over the past month, lagging the Oils-Energy sector's loss of 4.84% and the S&P 500's loss of 1.82%.Market participants will be closely following the financial results of Cameco in its upcoming release. The company's upcoming EPS is projected at $0.36, signifying a 29.41% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $534.36 million, showing a 15.69% drop compared to the year-ago quarter. For the full year, the Zacks Consensus Estimates are projecting earnings of $1.21 per share and revenue of $2.39 billion, which would represent changes of +17.48% and -4.07%, respectively, from the prior year. It's also important for investors to be aware of any recent modifications to analyst estimates for Cameco. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. 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 shifted 0.69% downward. Currently, Cameco is carrying a Zacks Rank of #3 (Hold). Investors should also note Cameco's current valuation metrics, including its Forward P/E ratio of 85.75. This valuation marks a premium compared to its industry average Forward P/E of 17.88. One should further note that CCJ currently holds a PEG ratio of 1.89. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Alternative Energy - Other industry had an average PEG ratio of 2.1 as trading concluded yesterday. The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 164, finds itself in the bottom 33% echelons 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. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. 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 UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks