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Ranger Energy (RNGR) Gains As Market Dips: What You Should Know
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In the latest trading session, Ranger Energy (RNGR - Free Report) closed at $11.91, marking a +0.25% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq gained 3.16%.
Coming into today, shares of the company had gained 3.3% in the past month. In that same time, the Oils-Energy sector gained 0.95%, while the S&P 500 gained 3.6%.
Investors will be hoping for strength from Ranger Energy as it approaches its next earnings release. On that day, Ranger Energy is projected to report earnings of $0.31 per share, which would represent year-over-year growth of 240.91%. Meanwhile, our latest consensus estimate is calling for revenue of $164 million, up 33.23% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Ranger Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Ranger Energy is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Ranger Energy is currently trading at a Forward P/E ratio of 6.99. For comparison, its industry has an average Forward P/E of 13.55, which means Ranger Energy is trading at a discount to the group.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 51, putting it in the top 21% 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.
To follow RNGR in the coming trading sessions, be sure to utilize Zacks.com.
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Ranger Energy (RNGR) Gains As Market Dips: What You Should Know
In the latest trading session, Ranger Energy (RNGR - Free Report) closed at $11.91, marking a +0.25% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq gained 3.16%.
Coming into today, shares of the company had gained 3.3% in the past month. In that same time, the Oils-Energy sector gained 0.95%, while the S&P 500 gained 3.6%.
Investors will be hoping for strength from Ranger Energy as it approaches its next earnings release. On that day, Ranger Energy is projected to report earnings of $0.31 per share, which would represent year-over-year growth of 240.91%. Meanwhile, our latest consensus estimate is calling for revenue of $164 million, up 33.23% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Ranger Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Ranger Energy is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Ranger Energy is currently trading at a Forward P/E ratio of 6.99. For comparison, its industry has an average Forward P/E of 13.55, which means Ranger Energy is trading at a discount to the group.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 51, putting it in the top 21% 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.
To follow RNGR in the coming trading sessions, be sure to utilize Zacks.com.