Cenovus Energy Stock Declines Amid Market Gains: Earnings and Revenue Projections to Watch

Cenovus Energy (CVE) stock declined by 1.08% to $24.79, lagging the S&P 500's 1.15% gain. The oil company's upcoming earnings are projected at $0.22 per share, a 31.25% drop from the previous year, with revenue forecast at $8.71 billion, down 6.02% YoY. The Zacks Rank system, which takes estimate changes into account, currently ranks CVE as a Strong Sell with a Forward P/E ratio of 22.11, a discount compared to its industry's Forward P/E of 22.23.