Zacks: Analysts Expect Comstock Resources, Inc. (CRK) Will Announce Quarterly Sales of $65.43 Million
Wall Street brokerages forecast that Comstock Resources, Inc. (NYSE:CRK) will post $65.43 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Comstock Resources’ earnings, with the highest sales estimate coming in at $68.30 million and the lowest estimate coming in at $63.10 million. Comstock Resources reported sales of $40.72 million in the same quarter last year, which indicates a positive year-over-year growth rate of 60.7%. The business is expected to announce its next quarterly earnings results before the market opens on Monday, August 7th.
On average, analysts expect that Comstock Resources will report full-year sales of $65.43 million for the current financial year, with estimates ranging from $266.80 million to $293.70 million. For the next financial year, analysts anticipate that the business will report sales of $334.41 million per share, with estimates ranging from $316.93 million to $349.30 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Comstock Resources.
Comstock Resources (NYSE:CRK) last released its earnings results on Monday, May 8th. The oil and gas producer reported ($1.75) EPS for the quarter, topping analysts’ consensus estimates of ($1.86) by $0.11. The firm had revenue of $53.80 million for the quarter, compared to the consensus estimate of $57.96 million. During the same period in the prior year, the business earned ($1.14) EPS.
Comstock Resources (NYSE CRK) opened at 6.76 on Friday. The company’s market cap is $103.91 million. Comstock Resources has a 12-month low of $2.64 and a 12-month high of $13.42. The firm’s 50-day moving average price is $6.95 and its 200-day moving average price is $8.82.
A number of institutional investors have recently modified their holdings of CRK. Segantii Capital Management Ltd purchased a new position in shares of Comstock Resources during the first quarter valued at about $148,000. GSA Capital Partners LLP purchased a new position in shares of Comstock Resources during the fourth quarter valued at about $170,000. SG Americas Securities LLC purchased a new position in shares of Comstock Resources during the first quarter valued at about $176,000. First Dallas Securities Inc. raised its position in shares of Comstock Resources by 13.3% in the first quarter. First Dallas Securities Inc. now owns 32,367 shares of the oil and gas producer’s stock valued at $299,000 after buying an additional 3,787 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Comstock Resources by 78.9% in the first quarter. Bank of New York Mellon Corp now owns 44,490 shares of the oil and gas producer’s stock valued at $410,000 after buying an additional 19,627 shares in the last quarter. Hedge funds and other institutional investors own 49.99% of the company’s stock.
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About Comstock Resources
Comstock Resources, Inc is an energy company engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates in the segment of exploration and production of oil and natural gas. The Company’s oil and gas operations are concentrated in Texas and Louisiana.
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