-$0.06 Earnings Per Share Expected for Range Resources Corp. (NYSE:RRC) This Quarter

Equities research analysts expect Range Resources Corp. (NYSE:RRC) to report ($0.06) earnings per share (EPS) for the current quarter, Zacks reports. Seven analysts have made estimates for Range Resources’ earnings, with the highest EPS estimate coming in at $0.02 and the lowest estimate coming in at ($0.13). Range Resources reported earnings per share of $0.26 during the same quarter last year, which would indicate a negative year-over-year growth rate of 123.1%. The firm is scheduled to issue its next earnings report on Tuesday, October 22nd.

According to Zacks, analysts expect that Range Resources will report full-year earnings of $0.37 per share for the current fiscal year, with EPS estimates ranging from $0.25 to $0.58. For the next financial year, analysts forecast that the business will report earnings of $0.28 per share, with EPS estimates ranging from ($0.03) to $0.76. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Range Resources.

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

Several equities research analysts have issued reports on the stock. Citigroup lowered their price target on shares of Range Resources from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. LADENBURG THALM/SH SH downgraded Range Resources from a “buy” rating to a “neutral” rating and cut their price objective for the company from $11.00 to $5.00 in a report on Monday, August 26th. Jefferies Financial Group downgraded Range Resources from a “buy” rating to a “hold” rating and cut their price objective for the company from $17.00 to $7.00 in a report on Monday, July 15th. MKM Partners raised Range Resources from a “neutral” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Monday, August 19th. Finally, Zacks Investment Research downgraded Range Resources from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $13.01.

Range Resources stock traded up $0.50 on Monday, hitting $5.13. The company’s stock had a trading volume of 19,402,621 shares, compared to its average volume of 12,362,586. The firm has a market cap of $1.16 billion, a P/E ratio of 4.54, a price-to-earnings-growth ratio of 3.55 and a beta of 1.03. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 0.91. The company has a fifty day moving average price of $4.30 and a 200-day moving average price of $7.61. Range Resources has a one year low of $3.36 and a one year high of $18.59.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, September 12th. Range Resources’s payout ratio is currently 7.08%.

In other news, VP David P. Poole sold 5,843 shares of the business’s stock in a transaction dated 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 in the company, valued at $331,135.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Margaret K. Dorman purchased 20,500 shares of Range Resources stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average price of $3.40 per share, for a total transaction of $69,700.00. Following the completion of the acquisition, the director now owns 57,233 shares of the company’s stock, valued at approximately $194,592.20. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 42,938 shares of company stock worth $176,159. Company insiders own 0.35% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of RRC. Machina Capital S.A.S. bought a new stake in Range Resources during the second quarter worth $46,000. Reilly Financial Advisors LLC purchased a new position in Range Resources during the second quarter valued at $70,000. M&T Bank Corp purchased a new position in Range Resources during the second quarter valued at $69,000. MML Investors Services LLC purchased a new position in Range Resources during the second quarter valued at $76,000. Finally, B. Riley Wealth Management Inc. purchased a new position in Range Resources during the first quarter valued at $129,000.

About Range Resources

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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