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Range Resources (RRC) Gains As Market Dips: What You Should Know
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Range Resources (RRC - Free Report) closed the most recent trading day at $27.65, moving +1.99% from the previous trading session. The stock outpaced the S&P 500's daily loss of 2.01%. Elsewhere, the Dow lost 1.56%, while the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the independent oil and gas company had lost 25.05% over the past month. This has lagged the Oils-Energy sector's loss of 13.54% and the S&P 500's loss of 6.08% in that time.
Wall Street will be looking for positivity from Range Resources as it approaches its next earnings report date. In that report, analysts expect Range Resources to post earnings of $1.11 per share. This would mark year-over-year growth of 362.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $931.04 million, up 114.17% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.65 per share and revenue of $3.66 billion, which would represent changes of +130.2% and +25.06%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Range Resources. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 9.79% higher. Range Resources is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Range Resources has a Forward P/E ratio of 5.83 right now. This valuation marks a premium compared to its industry's average Forward P/E of 4.6.
It is also worth noting that RRC currently has a PEG ratio of 0.21. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. RRC's industry had an average PEG ratio of 0.22 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Range Resources (RRC) Gains As Market Dips: What You Should Know
Range Resources (RRC - Free Report) closed the most recent trading day at $27.65, moving +1.99% from the previous trading session. The stock outpaced the S&P 500's daily loss of 2.01%. Elsewhere, the Dow lost 1.56%, while the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the independent oil and gas company had lost 25.05% over the past month. This has lagged the Oils-Energy sector's loss of 13.54% and the S&P 500's loss of 6.08% in that time.
Wall Street will be looking for positivity from Range Resources as it approaches its next earnings report date. In that report, analysts expect Range Resources to post earnings of $1.11 per share. This would mark year-over-year growth of 362.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $931.04 million, up 114.17% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.65 per share and revenue of $3.66 billion, which would represent changes of +130.2% and +25.06%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Range Resources. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 9.79% higher. Range Resources is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Range Resources has a Forward P/E ratio of 5.83 right now. This valuation marks a premium compared to its industry's average Forward P/E of 4.6.
It is also worth noting that RRC currently has a PEG ratio of 0.21. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. RRC's industry had an average PEG ratio of 0.22 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.