Range Resources (RRC) closed the most recent trading day at $29.87, moving -1.48% from the previous trading session. This change lagged the S&P 500's 1.13% loss on the day. At the same time, the Dow lost 1.01%, and the tech-heavy Nasdaq lost 0.13%.
Heading into today, shares of the independent oil and gas company had lost 13.52% over the past month, lagging the Oils-Energy sector's loss of 1.89% and the S&P 500's loss of 7.59% in that time.
Range Resources will be looking to display strength as it nears its next earnings release. On that day, Range Resources is projected to report earnings of $1.36 per share, which would represent year-over-year growth of 161.54%. Meanwhile, our latest consensus estimate is calling for revenue of $1.05 billion, up 247.3% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.49 per share and revenue of $4.06 billion, which would represent changes of +171.78% and +38.72%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Range Resources. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.53% higher. Range Resources currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Range Resources has a Forward P/E ratio of 5.52 right now. This valuation marks a premium compared to its industry's average Forward P/E of 5.1.
It is also worth noting that RRC currently has a PEG ratio of 0.19. 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.2 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 54, which puts it in the top 22% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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