Comstock Resources (CRK) Stock Sinks As Market Gains: What You Should Know
Comstock Resources (CRK) closed at $15.85 in the latest trading session, marking a -1.86% move from the prior day. This change lagged the S&P 500's daily gain of 1.21%. At the same time, the Dow added 1.03%, and the tech-heavy Nasdaq gained 0.16%.
Prior to today's trading, shares of the oil and gas company had gained 19.81% over the past month. This has outpaced the Oils-Energy sector's gain of 2.47% and the S&P 500's gain of 3.2% in that time.
Wall Street will be looking for positivity from Comstock Resources as it approaches its next earnings report date. This is expected to be August 1, 2022. In that report, analysts expect Comstock Resources to post earnings of $0.93 per share. This would mark year-over-year growth of 322.73%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $669.33 million, up 94.75% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.42 per share and revenue of $2.56 billion, which would represent changes of +194.83% and +38.34%, respectively, from the prior year.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 10.54% lower within the past month. Comstock Resources is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Comstock Resources's current valuation metrics, including its Forward P/E ratio of 4.73. This valuation marks a discount compared to its industry's average Forward P/E of 4.98.
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 39, which puts it in the top 16% 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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