We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Range Resources (RRC) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
Range Resources (RRC - Free Report) closed at $32.17 in the latest trading session, marking a +0.66% move from the prior day. This change outpaced the S&P 500's 1.07% loss on the day. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Heading into today, shares of the independent oil and gas company had gained 6.53% over the past month, outpacing the Oils-Energy sector's gain of 1.76% and the S&P 500's loss of 3.49% in that time.
Wall Street will be looking for positivity from Range Resources as it approaches its next earnings report date. The company is expected to report EPS of $1.37, up 163.46% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.06 billion, up 248.7% from the prior-year quarter.
RRC's full-year Zacks Consensus Estimates are calling for earnings of $5.37 per share and revenue of $4.06 billion. These results would represent year-over-year changes of +165.84% and +38.5%, respectively.
It is also important to note the recent changes to analyst estimates for Range 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 0.49% lower within the past month. Range Resources is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Range Resources has a Forward P/E ratio of 5.95 right now. For comparison, its industry has an average Forward P/E of 5.1, which means Range Resources is trading at a premium to the group.
We can also see that RRC currently has a PEG ratio of 0.21. 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.23 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 91, which puts it in the top 37% 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.
View the Zacks #1 Rank List
Image: Bigstock
Range Resources (RRC) Gains As Market Dips: What You Should Know
Range Resources (RRC - Free Report) closed at $32.17 in the latest trading session, marking a +0.66% move from the prior day. This change outpaced the S&P 500's 1.07% loss on the day. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Heading into today, shares of the independent oil and gas company had gained 6.53% over the past month, outpacing the Oils-Energy sector's gain of 1.76% and the S&P 500's loss of 3.49% in that time.
Wall Street will be looking for positivity from Range Resources as it approaches its next earnings report date. The company is expected to report EPS of $1.37, up 163.46% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.06 billion, up 248.7% from the prior-year quarter.
RRC's full-year Zacks Consensus Estimates are calling for earnings of $5.37 per share and revenue of $4.06 billion. These results would represent year-over-year changes of +165.84% and +38.5%, respectively.
It is also important to note the recent changes to analyst estimates for Range 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 0.49% lower within the past month. Range Resources is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Range Resources has a Forward P/E ratio of 5.95 right now. For comparison, its industry has an average Forward P/E of 5.1, which means Range Resources is trading at a premium to the group.
We can also see that RRC currently has a PEG ratio of 0.21. 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.23 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 91, which puts it in the top 37% 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.