Equities research analysts expect that Range Resources Corp. (NYSE:RRC) will report sales of $776.08 million for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Range Resources’ earnings, with the lowest sales estimate coming in at $708.40 million and the highest estimate coming in at $857.79 million. Range Resources reported sales of $679.03 million in the same quarter last year, which would suggest a positive year over year growth rate of 14.3%. The company is expected to report its next quarterly earnings report on Tuesday, February 26th.
On average, analysts expect that Range Resources will report full-year sales of $2.92 billion for the current fiscal year, with estimates ranging from $2.64 billion to $3.14 billion. For the next year, analysts expect that the business will post sales of $3.37 billion, with estimates ranging from $2.97 billion to $3.72 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Range Resources.
Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ 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 posted $0.05 EPS.
A number of brokerages have recently commented on RRC. TD Securities began coverage on Range Resources in a report on Thursday, July 5th. They set a “hold” rating and a $18.00 price target for the company. Piper Jaffray Companies reiterated a “buy” rating and set a $27.00 price target on shares of Range Resources in a report on Friday, July 20th. Guggenheim reiterated a “buy” rating and set a $22.00 price target on shares of Range Resources in a report on Wednesday, October 24th. Capital One Financial upgraded Range Resources from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 31st. Finally, Royal Bank of Canada upgraded Range Resources to a “hold” rating in a report on Wednesday, September 26th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the stock. Range Resources presently has a consensus rating of “Hold” and a consensus target price of $22.55.
Several hedge funds and other institutional investors have recently modified their holdings of RRC. BlackRock Inc. raised its stake in shares of Range Resources by 26.4% in the second quarter. BlackRock Inc. now owns 19,759,391 shares of the oil and gas exploration company’s stock valued at $330,575,000 after purchasing an additional 4,132,913 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its position in Range Resources by 54.6% in the second quarter. ANTIPODES PARTNERS Ltd now owns 5,830,315 shares of the oil and gas exploration company’s stock valued at $97,541,000 after acquiring an additional 2,058,057 shares during the period. Segall Bryant & Hamill LLC bought a new stake in Range Resources in the second quarter valued at $18,499,000. Dimensional Fund Advisors LP grew its position in Range Resources by 12.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,997,480 shares of the oil and gas exploration company’s stock valued at $150,530,000 after acquiring an additional 1,014,157 shares during the period. Finally, Bank of Montreal Can grew its position in Range Resources by 6,602.8% in the third quarter. Bank of Montreal Can now owns 787,040 shares of the oil and gas exploration company’s stock valued at $13,372,000 after acquiring an additional 775,298 shares during the period.
Shares of NYSE RRC opened at $15.85 on Thursday. The company has a market capitalization of $3.95 billion, a P/E ratio of 27.33, a PEG ratio of 1.09 and a beta of 0.57. Range Resources has a 52 week low of $11.93 and a 52 week high of $19.38. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.56 and a quick ratio of 0.53.
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.
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