Range Resources (RRC) closed at $24.57 in the latest trading session, marking a -1.09% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.11%. Elsewhere, the Dow lost 1.54%, while the tech-heavy Nasdaq lost 0.3%.
Heading into today, shares of the independent oil and gas company had lost 24.41% over the past month, lagging the Oils-Energy sector's loss of 11.61% and the S&P 500's loss of 8.19% in that time.
Investors will be hoping for strength from Range Resources as it approaches 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%. Our most recent consensus estimate is calling for quarterly revenue of $1.05 billion, up 247.3% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.49 per share and revenue of $4.06 billion. These totals would mark changes of +171.78% and +38.72%, respectively, from last year.
Any recent changes to analyst estimates for Range Resources should also be noted by investors. Recent revisions tend to reflect the latest near-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. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.93% higher. Range Resources is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Range Resources has a Forward P/E ratio of 4.52 right now. For comparison, its industry has an average Forward P/E of 4.5, which means Range Resources is trading at a premium to the group.
Meanwhile, RRC's PEG ratio is currently 0.16. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.21 at yesterday's closing price.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 28, putting it in the top 12% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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