https://ca.investing.com/news/stock-market-news/3-canadian-stocks-expected-to-report-wide-earnings-swings-this-week-2489981 Crescent Point Energy stock to launch earnings growth fireworks producer Crescent Point Energy (TSX:CPG)(NYSE:CPG) will release its second-quarter results prior to the market opening on Wednesday, July 29.
The market expects second-quarter GAAP EPS of 25 cents to compare favourably with a 27 cents net loss per share reported last year. Quarterly revenue could surge by 203% year over year to $783.5 million, while cash from operations could jump over 250 percent to $381 million.
Such great expectations are mainly powered by the surge in oil prices this year.
The year 2021 could be one of the best financial periods for Canadian oil and gas producers in recent history. The Western Texas Intermediate (WTI) oil benchmark was printing a market price of US$72 per barrel at the time of writing on Monday. The benchmark was at only US$40 per barrel by this time last year.
This is the year for Crescent Point Energy stock to recover, and the analyst consensus price target on CPG stock at $7.67 tips investors for a potential 75% upside within the next 12 months.