Centennial Resource Dev (NASDAQ:CDEV) is set to give its latest quarterly earnings report on Wednesday, 2022-05-04. Here's what investors need to know before the announcement.
Analysts estimate that Centennial Resource Dev will report an earnings per share (EPS) of $0.36.
Centennial Resource Dev bulls will hope to hear the company to announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Historical Earnings Performance
Last quarter the company beat EPS by $0.22, which was followed by a 5.2% increase in the share price the next day.
Here's a look at Centennial Resource Dev's past performance and the resulting price change:
| Quarter | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|
| EPS Estimate | 0.29 | 0.19 | 0.04 | |
| EPS Actual | 0.51 | 0.12 | -0.09 | -0.12 |
| Price Change % | 5.2% | 0.13% | -9.62% | 9.15% |
Stock Performance
Shares of Centennial Resource Dev were trading at $7.62 as of May 02. Over the last 52-week period, shares are up 71.08%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
