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CNX Midstream (CNXM) Stock Sinks As Market Gains: What You Should Know

CNX Midstream (CNXM) closed the most recent trading day at $14.83, moving -0.8% from the previous trading session. This change lagged the S&P 500's 0.86% gain on the day. Meanwhile, the Dow gained 0.79%, and the Nasdaq, a tech-heavy index, added 0.73%.

Coming into today, shares of the natural gas assets owner had gained 8.41% in the past month. In that same time, the Oils-Energy sector lost 1.43%, while the S&P 500 gained 1.94%.

Wall Street will be looking for positivity from CNXM as it approaches its next earnings report date. 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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 might also notice recent changes to analyst estimates for CNXM. Recent revisions tend to reflect the latest near-term business trends. 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. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 5.58% higher within the past month. CNXM is currently sporting a Zacks Rank of #1 (Strong Buy).

Digging into valuation, CNXM currently has a Forward P/E ratio of 6.59. This valuation marks a discount compared to its industry's average Forward P/E of 11.99.

The Energy and Pipeline - Master Limited Partnerships industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 25, putting it in the top 10% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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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