Range Resources Corp. (NYSE:RRC) Expected to Post Quarterly Sales of $612.87 Million

Analysts predict that Range Resources Corp. (NYSE:RRC) will post $612.87 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Range Resources’ earnings, with estimates ranging from $558.00 million to $683.91 million. Range Resources posted sales of $811.23 million in the same quarter last year, which suggests a negative year over year growth rate of 24.5%. The firm is expected to report its next quarterly earnings report on Tuesday, October 22nd.

On average, analysts expect that Range Resources will report full year sales of $2.77 billion for the current financial year, with estimates ranging from $2.54 billion to $3.01 billion. For the next financial year, analysts anticipate that the business will report sales of $2.76 billion, with estimates ranging from $2.45 billion to $3.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Range Resources.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $672.93 million. During the same period in the prior year, the business posted $0.20 earnings per share. Range Resources’s revenue was up 29.8% compared to the same quarter last year.

Several brokerages have commented on RRC. Citigroup lowered their target price on shares of Range Resources from $7.50 to $6.00 and set a “neutral” rating for the company in a research note on Friday. TD Securities lowered their target price on shares of Range Resources from $7.50 to $5.50 and set a “hold” rating for the company in a research note on Friday, July 26th. Susquehanna Bancshares lowered their target price on shares of Range Resources from $11.00 to $8.50 and set a “positive” rating for the company in a research note on Monday, July 29th. Jefferies Financial Group downgraded shares of Range Resources from a “buy” rating to a “hold” rating and lowered their target price for the company from $17.00 to $7.00 in a research note on Monday, July 15th. Finally, Guggenheim downgraded shares of Range Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $14.53.

Shares of NYSE RRC opened at $5.00 on Friday. The firm has a 50 day simple moving average of $6.12. Range Resources has a fifty-two week low of $4.57 and a fifty-two week high of $18.59. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 4.42, a P/E/G ratio of 3.81 and a beta of 0.97. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.75 and a quick ratio of 0.70.

In related news, CFO Mark Scucchi acquired 9,483 shares of the stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $5.27 per share, with a total value of $49,975.41. Following the completion of the transaction, the chief financial officer now directly owns 14,149 shares of the company’s stock, valued at $74,565.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David P. Poole sold 5,843 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $5.69, for a total transaction of $33,246.67. Following the sale, the vice president now directly owns 58,196 shares of the company’s stock, valued at approximately $331,135.24. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of RRC. Raymond James Financial Services Advisors Inc. grew its position in Range Resources by 2.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 51,367 shares of the oil and gas exploration company’s stock valued at $577,000 after purchasing an additional 1,367 shares in the last quarter. GAM Holding AG grew its position in Range Resources by 1.8% in the first quarter. GAM Holding AG now owns 94,200 shares of the oil and gas exploration company’s stock valued at $1,059,000 after purchasing an additional 1,700 shares in the last quarter. Retirement Systems of Alabama grew its position in Range Resources by 0.7% in the first quarter. Retirement Systems of Alabama now owns 270,288 shares of the oil and gas exploration company’s stock valued at $3,038,000 after purchasing an additional 1,785 shares in the last quarter. Mason Street Advisors LLC grew its position in Range Resources by 1.8% in the first quarter. Mason Street Advisors LLC now owns 110,414 shares of the oil and gas exploration company’s stock valued at $1,241,000 after purchasing an additional 1,940 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in Range Resources by 0.6% in the first quarter. California State Teachers Retirement System now owns 342,638 shares of the oil and gas exploration company’s stock valued at $3,851,000 after purchasing an additional 1,944 shares in the last quarter.

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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