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Range Resources (RRC) Gains But Lags Market: What You Should Know
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Range Resources (RRC - Free Report) closed at $27.36 in the latest trading session, marking a +1.67% move from the prior day. The stock lagged the S&P 500's daily gain of 2.65%. Meanwhile, the Dow gained 1.86%, and the Nasdaq, a tech-heavy index, added 0.24%.
Prior to today's trading, shares of the independent oil and gas company had lost 9.36% over the past month. This has lagged the Oils-Energy sector's loss of 4.88% and the S&P 500's loss of 8.99% in that time.
Range Resources will be looking to display strength as it nears its next earnings release, which is expected to be October 24, 2022. The company is expected to report EPS of $1.40, up 169.23% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.07 billion, up 252% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.41 per share and revenue of $4.06 billion. These totals would mark changes of +167.82% and +38.43%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Range Resources. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 1.66% lower. Range Resources is currently a Zacks Rank #3 (Hold).
In terms of valuation, Range Resources is currently trading at a Forward P/E ratio of 4.98. Its industry sports an average Forward P/E of 4.98, so we one might conclude that Range Resources is trading at a no noticeable deviation comparatively.
It is also worth noting that RRC currently has a PEG ratio of 0.18. 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. RRC's industry 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 group has a Zacks Industry Rank of 31, putting it in the top 13% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Range Resources (RRC) Gains But Lags Market: What You Should Know
Range Resources (RRC - Free Report) closed at $27.36 in the latest trading session, marking a +1.67% move from the prior day. The stock lagged the S&P 500's daily gain of 2.65%. Meanwhile, the Dow gained 1.86%, and the Nasdaq, a tech-heavy index, added 0.24%.
Prior to today's trading, shares of the independent oil and gas company had lost 9.36% over the past month. This has lagged the Oils-Energy sector's loss of 4.88% and the S&P 500's loss of 8.99% in that time.
Range Resources will be looking to display strength as it nears its next earnings release, which is expected to be October 24, 2022. The company is expected to report EPS of $1.40, up 169.23% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.07 billion, up 252% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.41 per share and revenue of $4.06 billion. These totals would mark changes of +167.82% and +38.43%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Range Resources. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 1.66% lower. Range Resources is currently a Zacks Rank #3 (Hold).
In terms of valuation, Range Resources is currently trading at a Forward P/E ratio of 4.98. Its industry sports an average Forward P/E of 4.98, so we one might conclude that Range Resources is trading at a no noticeable deviation comparatively.
It is also worth noting that RRC currently has a PEG ratio of 0.18. 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. RRC's industry 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 group has a Zacks Industry Rank of 31, putting it in the top 13% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.