- Oops!Something went wrong.Please try again later.
In the latest trading session, Comstock Resources (CRK) closed at $20.06, marking a -0.05% move from the previous day. This move was narrower than the S&P 500's daily loss of 2.91%. Meanwhile, the Dow lost 2.73%, and the Nasdaq, a tech-heavy index, lost 0.25%.
Prior to today's trading, shares of the oil and gas company had gained 39.67% over the past month. This has outpaced the Oils-Energy sector's gain of 16.13% and the S&P 500's gain of 0.84% in that time.
Comstock Resources will be looking to display strength as it nears its next earnings release. In that report, analysts expect Comstock Resources to post earnings of $0.77 per share. This would mark year-over-year growth of 250%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $594.67 million, up 73.02% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.59 per share and revenue of $2.56 billion, which would represent changes of +209.48% and +38.31%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Comstock Resources. These recent revisions tend to reflect the evolving nature of short-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.
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 12.38% 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 5.6. Its industry sports an average Forward P/E of 5.96, 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 industry currently has a Zacks Industry Rank of 16, which puts it in the top 7% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Zacks Investment Research