Comstock Resources (CRK) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Comstock Resources (CRK) closed at $8.75, marking a -0.68% move from the previous day. This change lagged the S&P 500's daily loss of 0.1%. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Prior to today's trading, shares of the oil and gas company had gained 4.63% over the past month. This has outpaced the Oils-Energy sector's gain of 2.89% and the S&P 500's gain of 4.4% in that time.
Investors will be hoping for strength from Comstock Resources as it approaches its next earnings release. In that report, analysts expect Comstock Resources to post earnings of $0.56 per share. This would mark year-over-year growth of 300%. Meanwhile, our latest consensus estimate is calling for revenue of $530.9 million, up 93.22% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.40 per share and revenue of $1.35 billion. These totals would mark changes of +508.7% and +56.84%, respectively, from last year.
Any recent changes to analyst estimates for Comstock Resources should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.71% lower. Comstock Resources is currently a Zacks Rank #3 (Hold).
Investors should also note Comstock Resources's current valuation metrics, including its Forward P/E ratio of 6.31. For comparison, its industry has an average Forward P/E of 9.23, which means Comstock Resources is trading at a discount to the group.
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 111, putting it in the top 44% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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