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Range Resources (RRC) Stock Sinks As Market Gains: What You Should Know
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Range Resources (RRC - Free Report) closed at $19.01 in the latest trading session, marking a -0.21% move from the prior day. This move lagged the S&P 500's daily gain of 0.14%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq lost 0.34%.
Heading into today, shares of the independent oil and gas company had lost 2.61% over the past month, lagging the Oils-Energy sector's gain of 2.6% and the S&P 500's gain of 4.32% in that time.
Investors will be hoping for strength from Range Resources as it approaches its next earnings release. The company is expected to report EPS of $1.08, up 5300% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $934.86 million, up 56.1% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.19 per share and revenue of $2.6 billion. These totals would mark changes of +2533.33% and +32.26%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Range Resources. Recent revisions tend to reflect the latest 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. 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 has moved 0.82% lower. Range Resources is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Range Resources is holding a Forward P/E ratio of 8.72. Its industry sports an average Forward P/E of 9.03, so we one might conclude that Range Resources is trading at a discount comparatively.
Also, we should mention that RRC has a PEG ratio of 0.28. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.38 based on yesterday's closing prices.
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 157, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Range Resources (RRC) Stock Sinks As Market Gains: What You Should Know
Range Resources (RRC - Free Report) closed at $19.01 in the latest trading session, marking a -0.21% move from the prior day. This move lagged the S&P 500's daily gain of 0.14%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq lost 0.34%.
Heading into today, shares of the independent oil and gas company had lost 2.61% over the past month, lagging the Oils-Energy sector's gain of 2.6% and the S&P 500's gain of 4.32% in that time.
Investors will be hoping for strength from Range Resources as it approaches its next earnings release. The company is expected to report EPS of $1.08, up 5300% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $934.86 million, up 56.1% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.19 per share and revenue of $2.6 billion. These totals would mark changes of +2533.33% and +32.26%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Range Resources. Recent revisions tend to reflect the latest 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. 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 has moved 0.82% lower. Range Resources is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Range Resources is holding a Forward P/E ratio of 8.72. Its industry sports an average Forward P/E of 9.03, so we one might conclude that Range Resources is trading at a discount comparatively.
Also, we should mention that RRC has a PEG ratio of 0.28. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.38 based on yesterday's closing prices.
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 157, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.