Wall Street analysts expect Cenovus Energy (CVE) to post quarterly earnings of $0.18 per share in its upcoming report, which indicates a year-over-year decline of 37.9%. Revenues are expected to be $9.99 billion, up 3.6% from the year-ago quarter.

Over the last 30 days, there has been an upward revision of 15.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

With that in mind, let's delve into the average projections of some Cenovus metrics that are commonly tracked and projected by analysts on Wall Street.

Based on the collective assessment of analysts, 'Total Upstream Production' should arrive at 811.03 millions of barrels of oil equivalent per day. The estimate is in contrast to the year-ago figure of 808.6 millions of barrels of oil equivalent per day.

The combined assessment of analysts suggests that 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Christina Lake' will likely reach 251.37 millions of barrels of oil per day. The estimate compares to the year-ago value of 237.4 millions of barrels of oil per day.

The average prediction of analysts places 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Foster Creek' at 191.78 millions of barrels of oil per day. The estimate compares to the year-ago value of 186.3 millions of barrels of oil per day.

The consensus estimate for 'Upstream - Total Conventional Natural Gas Production' stands at 846.64 millions of cubic feet per day. Compared to the present estimate, the company reported 876.3 millions of cubic feet per day in the same quarter last year.

Analysts forecast 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Sunrise' to reach 53.16 millions of barrels of oil per day. Compared to the present estimate, the company reported 48.9 millions of barrels of oil per day in the same quarter last year.

Analysts expect 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Lloydminster Conventional Heavy Oil' to come in at 16.15 millions of barrels of oil per day. The estimate compares to the year-ago value of 16.7 millions of barrels of oil per day.

Analysts' assessment points toward 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production' reaching 620.79 millions of barrels of oil per day. Compared to the current estimate, the company reported 593.4 millions of barrels of oil per day in the same quarter of the previous year.

It is projected by analysts that the 'Downstream - Total Canadian Refining - Heavy Crude Oil Unit Throughput' will reach 100.98 millions of barrels of oil per day. The estimate is in contrast to the year-ago figure of 110.5 millions of barrels of oil per day.

The consensus among analysts is that 'Upstream - Total Conventional Natural Gas Production - Conventional' will reach 567.33 millions of cubic feet per day. Compared to the current estimate, the company reported 832.6 millions of cubic feet per day in the same quarter of the previous year.

Analysts predict that the 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Lloydminster Therma' will reach 108.54 millions of barrels of oil per day. Compared to the current estimate, the company reported 104.1 millions of barrels of oil per day in the same quarter of the previous year.

View all Key Company Metrics for Cenovus here>>>

Over the past month, Cenovus shares have recorded returns of +3.6% versus the Zacks S&P 500 composite's +4.9% change. Based on its Zacks Rank #3 (Hold), CVE will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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