Analysts Expect Range Resources (RRC) Will Post Quarterly Sales of $715.12 Million

Equities research analysts forecast that Range Resources (NYSE:RRC) will post sales of $715.12 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Range Resources’ earnings. The lowest sales estimate is $655.00 million and the highest is $740.80 million. Range Resources reported sales of $776.66 million during the same quarter last year, which indicates a negative year-over-year growth rate of 7.9%. The company is expected to report its next quarterly earnings results after the market closes on Wednesday, April 25th.

According to Zacks, analysts expect that Range Resources will report full-year sales of $2.78 billion for the current year, with estimates ranging from $2.71 billion to $2.86 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.99 billion per share, with estimates ranging from $2.90 billion to $3.12 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Range Resources.

How to Become a New Pot Stock Millionaire

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, February 27th. The oil and gas exploration company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.07. Range Resources had a net margin of 12.76% and a return on equity of 5.42%. The firm had revenue of $679.00 million for the quarter, compared to the consensus estimate of $659.71 million. During the same period in the prior year, the firm posted $0.23 EPS. The firm’s revenue was up 167.9% compared to the same quarter last year.

A number of research firms have commented on RRC. Bank of America downgraded shares of Range Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, January 4th. Morgan Stanley downgraded shares of Range Resources from an “equal weight” rating to an “underweight” rating and set a $11.00 price objective on the stock. in a research note on Wednesday, January 24th. Credit Suisse Group reduced their price objective on shares of Range Resources from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, January 25th. Capital One downgraded shares of Range Resources from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 25th. Finally, Cowen set a $25.00 price target on shares of Range Resources and gave the stock a “buy” rating in a research report on Thursday, January 18th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Range Resources has a consensus rating of “Hold” and an average target price of $22.22.

NYSE RRC traded down $0.55 during trading hours on Thursday, reaching $13.69. 7,419,335 shares of the company traded hands, compared to its average volume of 6,414,322. Range Resources has a 12 month low of $11.93 and a 12 month high of $28.76. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.57 and a quick ratio of 0.54. The company has a market capitalization of $3,402.50, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 0.57 and a beta of 0.55.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 16th were issued a $0.02 dividend. The ex-dividend date was Thursday, March 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.58%. Range Resources’s dividend payout ratio (DPR) is presently 13.79%.

In other news, Director Steffen E. Palko acquired 34,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were acquired at an average price of $14.72 per share, with a total value of $500,480.00. Following the acquisition, the director now directly owns 61,267 shares in the company, valued at $901,850.24. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its stake in Range Resources by 2,708.2% during the 4th quarter. Mackenzie Financial Corp now owns 3,057,252 shares of the oil and gas exploration company’s stock valued at $52,157,000 after buying an additional 2,948,384 shares during the period. SailingStone Capital Partners LLC increased its stake in Range Resources by 7.9% during the 4th quarter. SailingStone Capital Partners LLC now owns 35,832,571 shares of the oil and gas exploration company’s stock valued at $611,304,000 after buying an additional 2,623,957 shares during the period. Guggenheim Capital LLC increased its stake in Range Resources by 55.2% during the 4th quarter. Guggenheim Capital LLC now owns 3,579,421 shares of the oil and gas exploration company’s stock valued at $61,063,000 after buying an additional 1,272,442 shares during the period. HBK Investments L P acquired a new position in Range Resources during the 4th quarter valued at about $15,369,000. Finally, BlackRock Inc. increased its stake in Range Resources by 4.5% during the 4th quarter. BlackRock Inc. now owns 15,543,438 shares of the oil and gas exploration company’s stock valued at $265,170,000 after buying an additional 673,151 shares during the period. 96.40% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “Analysts Expect Range Resources (RRC) Will Post Quarterly Sales of $715.12 Million” was published by Week Herald and is the property of of Week Herald. If you are accessing this report on another publication, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this report can be read at https://weekherald.com/2018/04/22/analysts-expect-range-resources-rrc-will-post-quarterly-sales-of-715-12-million.html.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

Get a free copy of the Zacks research report on Range Resources (RRC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Range Resources (NYSE:RRC)

Receive News & Ratings for Range Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Range Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply