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Ranger Energy (RNGR) Stock Sinks As Market Gains: What You Should Know
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Ranger Energy (RNGR - Free Report) closed at $10.81 in the latest trading session, marking a -0.37% move from the prior day. This change lagged the S&P 500's daily gain of 0.53%. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 5.2%.
Prior to today's trading, shares of the company had lost 3.64% over the past month. This has was narrower than the Oils-Energy sector's loss of 5.49% and lagged the S&P 500's gain of 0.67% in that time.
Wall Street will be looking for positivity from Ranger Energy as it approaches its next earnings report date. This is expected to be March 7, 2023. In that report, analysts expect Ranger Energy to post earnings of $0.31 per share. This would mark year-over-year growth of 240.91%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $164 million, up 33.23% from the year-ago period.
Any recent changes to analyst estimates for Ranger Energy should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Ranger Energy has a Forward P/E ratio of 6.38 right now. Its industry sports an average Forward P/E of 13.68, so we one might conclude that Ranger Energy is trading at a discount comparatively.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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) Stock Sinks As Market Gains: What You Should Know
Ranger Energy (RNGR - Free Report) closed at $10.81 in the latest trading session, marking a -0.37% move from the prior day. This change lagged the S&P 500's daily gain of 0.53%. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 5.2%.
Prior to today's trading, shares of the company had lost 3.64% over the past month. This has was narrower than the Oils-Energy sector's loss of 5.49% and lagged the S&P 500's gain of 0.67% in that time.
Wall Street will be looking for positivity from Ranger Energy as it approaches its next earnings report date. This is expected to be March 7, 2023. In that report, analysts expect Ranger Energy to post earnings of $0.31 per share. This would mark year-over-year growth of 240.91%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $164 million, up 33.23% from the year-ago period.
Any recent changes to analyst estimates for Ranger Energy should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Ranger Energy has a Forward P/E ratio of 6.38 right now. Its industry sports an average Forward P/E of 13.68, so we one might conclude that Ranger Energy is trading at a discount comparatively.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.