Range Resources Corp. (NYSE:RRC) Expected to Post Earnings of -$0.08 Per Share

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Equities analysts expect Range Resources Corp. (NYSE:RRC) to report ($0.08) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Range Resources’ earnings. The highest EPS estimate is $0.02 and the lowest is ($0.19). Range Resources reported earnings of $0.26 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 130.8%. The firm is expected to issue its next earnings results on Tuesday, October 22nd.

On average, analysts expect that Range Resources will report full-year earnings of $0.41 per share for the current year, with EPS estimates ranging from $0.22 to $0.64. For the next fiscal year, analysts anticipate that the company will report earnings of $0.23 per share, with EPS estimates ranging from ($0.18) to $0.76. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Range Resources.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. Range Resources had a negative net margin of 45.91% and a positive return on equity of 4.66%. The business had revenue of $851.43 million for the quarter, compared to the consensus estimate of $672.93 million. During the same period in the prior year, the business posted $0.20 earnings per share. Range Resources’s revenue for the quarter was up 29.8% compared to the same quarter last year.

Several equities analysts have commented on RRC shares. TD Securities lowered their target price on shares of Range Resources from $7.50 to $5.50 and set a “hold” rating on the stock in a research report on Friday, July 26th. ValuEngine raised shares of Range Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. MKM Partners raised shares of Range Resources from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a report on Monday, August 19th. Morgan Stanley set a $4.00 price target on shares of Range Resources and gave the stock a “sell” rating in a report on Monday, June 24th. Finally, Credit Suisse Group downgraded shares of Range Resources from an “outperform” rating to a “neutral” rating in a report on Friday, October 4th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company. Range Resources currently has an average rating of “Hold” and an average target price of $12.18.

In related news, VP David P. Poole sold 5,843 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $5.69, for a total transaction of $33,246.67. Following the completion of the transaction, the vice president now directly owns 58,196 shares in the company, valued at approximately $331,135.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Margaret K. Dorman acquired 20,500 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average price of $3.40 per share, with a total value of $69,700.00. Following the completion of the transaction, the director now owns 57,233 shares in the company, valued at $194,592.20. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 42,938 shares of company stock valued at $176,159. 0.35% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in RRC. Machina Capital S.A.S. acquired a new stake in Range Resources during the 2nd quarter worth approximately $46,000. M&T Bank Corp acquired a new position in Range Resources during the 2nd quarter worth approximately $69,000. Reilly Financial Advisors LLC acquired a new position in Range Resources during the 2nd quarter worth approximately $70,000. MML Investors Services LLC acquired a new position in Range Resources during the 2nd quarter worth approximately $76,000. Finally, Brown Advisory Inc. acquired a new position in Range Resources during the 2nd quarter worth approximately $85,000.

NYSE RRC opened at $3.59 on Wednesday. Range Resources has a 1-year low of $3.26 and a 1-year high of $18.36. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $837.09 million, a PE ratio of 3.92, a price-to-earnings-growth ratio of 2.99 and a beta of 1.02. The firm’s fifty day simple moving average is $4.03 and its 200-day simple moving average is $6.70.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Thursday, September 12th. Range Resources’s dividend payout ratio is 7.08%.

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

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