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Range Resources (RRC) closed at $30.42 in the latest trading session, marking a +0.33% move from the prior day. This change lagged the S&P 500's 0.99% gain on the day. At the same time, the Dow added 0.51%, and the tech-heavy Nasdaq lost 0.31%.
Coming into today, shares of the independent oil and gas company had gained 15.68% in the past month. In that same time, the Oils-Energy sector gained 0.86%, while the S&P 500 gained 7.91%.
Range Resources will be looking to display strength as it nears its next earnings release, which is expected to be July 25, 2022. In that report, analysts expect Range Resources to post earnings of $1.22 per share. This would mark year-over-year growth of 408.33%. Meanwhile, our latest consensus estimate is calling for revenue of $967.26 million, up 122.5% from the prior-year quarter.
RRC's full-year Zacks Consensus Estimates are calling for earnings of $5.15 per share and revenue of $3.77 billion. These results would represent year-over-year changes of +154.95% and +28.64%, respectively.
Any recent changes to analyst estimates for Range Resources should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 6.78% higher within the past month. Range Resources is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note Range Resources's current valuation metrics, including its Forward P/E ratio of 5.89. This represents a premium compared to its industry's average Forward P/E of 4.46.
Meanwhile, RRC's PEG ratio is currently 0.21. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.21 based on yesterday's closing prices.
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 17, 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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