Earnings from Range Resources Corporation [RRC] are scheduled on April 26, 2021, after the market closes. It is expected that the company will report strong earnings for the quarter ending Mar 2021.
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RRC Stock Earnings Outlook For The Current Quarter
The consensus estimates for the quarter suggest that the company would earn $0.25 per share on revenue of $553.63M. Taking a look at the future, the company is projected to report revenue of $546.83M at an earnings per share of $0.23 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 1.40% in revenue and -1.87% in earnings per share for the company.
RRC Stock Earnings Forecast For The Current Year
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For the full financial year, Range Resources Corporation [NYSE:RRC] is forecasted to generate revenue of $2.28B. The figure is about $670.0 million above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $1.18 in 2021, which is $1.27 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 1,411.10% this year, -2.50% next year, and 31.85% annually over the next five years. With regard to sales, forecasts suggest an incline of 42.10% in current fiscal year and 1.40% over following year.
RRC Stock Price Performance
At a last check today, Range Resources Corporation [NYSE:RRC] finished up 5.10% at $9.28. The stock’s day high price was $9.06, and its lowest was $8.71. Its price fall -5.56% in the last five days. Since the beginning of the year, Range Resources Corporation’s shares are up nearly 31.79%. However, the share price is -19.97% below its one year high. The top price reached by the shares of the company was $11.60 on 02/17/21, while the 52-week low came on 01/04/21, when the shares were $6.78. In the past year, shares of the company have risen 71.79%. At 50 days, the moving average achieved is $10.02 while at 200 days, the moving average is $8.24. There were 1.11 million shares traded in the last session, up from 0.14 million in the previous session.
Range Resources Corporation [NYSE:RRC] Stock Valuation Metrics
Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 1.30 PS value ratio is reported for the last one year of reported earnings. This is above the average return 1.13 for the industry, which means RRC offers an unattractive investment opportunity than its competitors do.
RRC Share Price Support And Resistance Levels
Based on the daily chart, the immediate backing lies around the 9.32 level, and the violation of this level will cause a further drop to 8.67 level. At the upper end, 9.37 remains a key resistance. As the stock increases, it may find resistance at 9.22. In the 14-day chart, the Relative Strength Index standing at 46.79 suggests a technical neutral stance while the MACD standing at -0.19 indicates price will decrease in the next trading period. Stochastic %K at 26.55% suggests holding the stock while Percent R indicator at 61.52% suggests low price movement.
How much is the short interest in Range Resources Corporation?
There have been a drop in short interest in the Range Resources Corporation Financial stock, with short interest down by -1.3 million shares to 29.73 million shares on Feb 25, 2021. According to data provided by Yahoo Finance, the short interest on Mar 30, 2021 stood at 28.43 million shares. This 4.37% increase suggests some bearish sentiment was experienced by the stock. Shorted shares accounted for just 15.48% of the overall float in the stock, while the stock’s days to cover moved to 5.84.
How do analysts view Range Resources Corporation?
In regard to the share price forecast for Range Resources Corporation stock, the analysts, as surveyed by FactSet, forecast the price to reach $11.00 in the next twelve months, representing almost an 15.64% growth from its recent price of $9.28. Among Range Resources Corporation stock projections, $20.00 is the highest analyst target for the stock, while $8.00 is the lowest. Despite this, 28 analysts who share their consensus rating for RRC in 2021 agree that the stock is a Hold. The latest rating change took place on 4/23/21, when Raymond James Ratings downgraded the stock from “Market Perform” to “Underperform.”