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Comstock Resources (CRK) Outpaces Stock Market Gains: What You Should Know
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Comstock Resources (CRK - Free Report) closed the most recent trading day at $16.76, moving +1.39% from the previous trading session. This change outpaced the S&P 500's 1.19% gain on the day. Elsewhere, the Dow gained 1.34%, while the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the oil and gas company had gained 1.91% over the past month, lagging the Oils-Energy sector's gain of 8.42% and outpacing the S&P 500's loss of 0.84% in that time.
Wall Street will be looking for positivity from Comstock Resources as it approaches its next earnings report date. This is expected to be November 1, 2022. The company is expected to report EPS of $1.16, up 241.18% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $870.98 million, up 70.39% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.83 per share and revenue of $3.09 billion, which would represent changes of +230.17% and +67.21%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Comstock Resources. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
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 0.84% higher. Comstock Resources is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Comstock Resources is currently trading at a Forward P/E ratio of 4.32. Its industry sports an average Forward P/E of 5.29, so we one might conclude that Comstock Resources is trading at a discount comparatively.
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 47, putting it in the top 19% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Comstock Resources (CRK) Outpaces Stock Market Gains: What You Should Know
Comstock Resources (CRK - Free Report) closed the most recent trading day at $16.76, moving +1.39% from the previous trading session. This change outpaced the S&P 500's 1.19% gain on the day. Elsewhere, the Dow gained 1.34%, while the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the oil and gas company had gained 1.91% over the past month, lagging the Oils-Energy sector's gain of 8.42% and outpacing the S&P 500's loss of 0.84% in that time.
Wall Street will be looking for positivity from Comstock Resources as it approaches its next earnings report date. This is expected to be November 1, 2022. The company is expected to report EPS of $1.16, up 241.18% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $870.98 million, up 70.39% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.83 per share and revenue of $3.09 billion, which would represent changes of +230.17% and +67.21%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Comstock Resources. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
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 0.84% higher. Comstock Resources is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Comstock Resources is currently trading at a Forward P/E ratio of 4.32. Its industry sports an average Forward P/E of 5.29, so we one might conclude that Comstock Resources is trading at a discount comparatively.
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 47, putting it in the top 19% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.