Brokerages Expect Comstock Resources, Inc. (CRK) Will Announce Earnings of -$0.53 Per Share

Brokerages forecast that Comstock Resources, Inc. (NYSE:CRK) will announce earnings per share (EPS) of ($0.53) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Comstock Resources’ earnings, with the lowest EPS estimate coming in at ($1.04) and the highest estimate coming in at ($0.21). Comstock Resources posted earnings of ($1.75) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 69.7%. The business is scheduled to announce its next quarterly earnings report on Monday, May 14th.

According to Zacks, analysts expect that Comstock Resources will report full year earnings of ($0.04) per share for the current year, with EPS estimates ranging from ($0.36) to $0.28. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.54 per share, with EPS estimates ranging from $0.30 to $0.78. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Comstock Resources.

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Comstock Resources (NYSE:CRK) last issued its earnings results on Monday, February 26th. The oil and gas producer reported ($0.31) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.94) by $0.63. The company had revenue of $73.25 million for the quarter, compared to the consensus estimate of $71.92 million. During the same quarter in the prior year, the company posted ($2.58) EPS.

Separately, Zacks Investment Research downgraded shares of Comstock Resources from a “buy” rating to a “hold” rating in a research note on Thursday, March 15th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $9.13.

Shares of NYSE:CRK opened at $4.83 on Tuesday. The company has a debt-to-equity ratio of -3.01, a current ratio of 1.80 and a quick ratio of 1.80. Comstock Resources has a fifty-two week low of $4.01 and a fifty-two week high of $10.72. The firm has a market cap of $84.39, a P/E ratio of -1.24 and a beta of -0.10.

A number of institutional investors have recently added to or reduced their stakes in CRK. Guggenheim Capital LLC purchased a new stake in Comstock Resources during the fourth quarter valued at $2,223,000. Renaissance Technologies LLC purchased a new stake in Comstock Resources during the fourth quarter valued at $1,228,000. Virtu Financial LLC raised its stake in Comstock Resources by 362.4% during the fourth quarter. Virtu Financial LLC now owns 58,828 shares of the oil and gas producer’s stock valued at $498,000 after purchasing an additional 46,107 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in Comstock Resources during the fourth quarter valued at $307,000. Finally, Citadel Advisors LLC raised its stake in Comstock Resources by 339.3% during the fourth quarter. Citadel Advisors LLC now owns 44,516 shares of the oil and gas producer’s stock valued at $377,000 after purchasing an additional 34,383 shares in the last quarter. 44.19% of the stock is currently owned by institutional investors.

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About Comstock Resources

Comstock Resources, Inc, an independent energy company, acquires, develops, explores, and produces oil and natural gas properties in the United States. Its oil and gas operations are primarily located in East Texas/North Louisiana and South Texas; and New Mexico and the Mid-Continent region. The company owns interests in 1,309 producing oil and natural gas wells.

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Earnings History and Estimates for Comstock Resources (NYSE:CRK)

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