Zacks: Brokerages Expect Range Resources Corp. (RRC) to Post $0.26 EPS

Share on StockTwits

Equities research analysts expect that Range Resources Corp. (NYSE:RRC) will announce earnings of $0.26 per share for the current quarter, Zacks reports. Eight analysts have issued estimates for Range Resources’ earnings. The lowest EPS estimate is $0.17 and the highest is $0.36. Range Resources posted earnings per share of $0.22 in the same quarter last year, which would suggest a positive year-over-year growth rate of 18.2%. The business is expected to issue its next earnings results on Tuesday, February 26th.

According to Zacks, analysts expect that Range Resources will report full-year earnings of $1.17 per share for the current financial year, with EPS estimates ranging from $1.06 to $1.28. For the next year, analysts anticipate that the company will report earnings of $1.43 per share, with EPS estimates ranging from $0.87 to $2.23. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Range Resources.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.08. The business had revenue of $811.20 million during the quarter, compared to analysts’ expectations of $747.06 million. Range Resources had a return on equity of 4.85% and a net margin of 8.28%. The firm’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 earnings per share.

RRC has been the subject of several recent analyst reports. TD Securities boosted their price target on Range Resources from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Wednesday, October 24th. Morgan Stanley decreased their price target on Range Resources from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Thursday, August 16th. Piper Jaffray Companies set a $29.00 price target on Range Resources and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. Macquarie set a $18.00 price target on Range Resources and gave the stock a “hold” rating in a research note on Wednesday, September 26th. Finally, KLR Group restated a “buy” rating and issued a $23.00 price target on shares of Range Resources in a research note on Monday, August 20th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.55.

Several institutional investors and hedge funds have recently modified their holdings of the stock. James Investment Research Inc. bought a new stake in shares of Range Resources in the third quarter worth $2,062,000. Russell Investments Group Ltd. grew its holdings in shares of Range Resources by 29.2% in the third quarter. Russell Investments Group Ltd. now owns 2,380,486 shares of the oil and gas exploration company’s stock worth $40,447,000 after acquiring an additional 538,109 shares during the period. Palo Capital Inc. bought a new stake in shares of Range Resources in the third quarter worth $198,000. Prospera Financial Services Inc grew its holdings in shares of Range Resources by 34.5% in the third quarter. Prospera Financial Services Inc now owns 22,210 shares of the oil and gas exploration company’s stock worth $375,000 after acquiring an additional 5,701 shares during the period. Finally, IFP Advisors Inc grew its holdings in shares of Range Resources by 16.2% in the third quarter. IFP Advisors Inc now owns 37,533 shares of the oil and gas exploration company’s stock worth $638,000 after acquiring an additional 5,231 shares during the period.

NYSE:RRC traded up $0.36 during trading hours on Tuesday, reaching $15.64. 1,274,153 shares of the company traded hands, compared to its average volume of 6,946,747. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 1.13 and a beta of 0.57. Range Resources has a 1 year low of $11.93 and a 1 year high of $19.38. The company has a current ratio of 0.56, a quick ratio of 0.53 and a debt-to-equity ratio of 0.72.

About Range Resources

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.

Featured Article: How are the companies in the S&P 500 selected?

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