-$0.08 Earnings Per Share Expected for Range Resources Corp. (NYSE:RRC) This Quarter

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

According to Zacks, analysts expect that Range Resources will report full year earnings of $0.41 per share for the current fiscal year, with EPS estimates ranging from $0.22 to $0.64. For the next year, analysts forecast that the company will report earnings of $0.23 per share, with EPS estimates ranging from ($0.18) to $0.76. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Range Resources.

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

A number of research firms recently issued reports on RRC. Morgan Stanley set a $4.00 price objective on Range Resources and gave the stock a “sell” rating in a report on Monday, June 24th. LADENBURG THALM/SH SH downgraded Range Resources from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $11.00 to $5.00 in a report on Monday, August 26th. Citigroup decreased their price objective on Range Resources from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Credit Suisse Group downgraded Range Resources from an “outperform” rating to a “neutral” rating in a report on Friday, October 4th. Finally, Susquehanna Bancshares decreased their price target on Range Resources from $11.00 to $8.50 and set a “positive” rating for the company in a research note on Monday, July 29th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $12.18.

In other news, VP David P. Poole sold 5,843 shares of Range Resources stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 58,196 shares in the company, valued at approximately $331,135.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Margaret K. Dorman bought 20,500 shares of Range Resources stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average price of $3.40 per share, with a total value of $69,700.00. Following the completion of the purchase, the director now directly owns 57,233 shares in the company, valued at approximately $194,592.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 42,938 shares of company stock valued at $176,159. Corporate insiders own 0.35% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Machina Capital S.A.S. bought a new position in shares of Range Resources during the 2nd quarter worth approximately $46,000. Reilly Financial Advisors LLC bought a new position in shares of Range Resources during the 2nd quarter worth approximately $70,000. M&T Bank Corp bought a new position in shares of Range Resources during the 2nd quarter worth approximately $69,000. MML Investors Services LLC bought a new position in shares of Range Resources during the 2nd quarter worth approximately $76,000. Finally, B. Riley Wealth Management Inc. bought a new position in shares of Range Resources during the 1st quarter worth approximately $129,000.

NYSE:RRC opened at $3.59 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.70 and a current ratio of 0.75. The company has a market cap of $837.09 million, a PE ratio of 3.92, a PEG ratio of 2.99 and a beta of 1.02. Range Resources has a 52-week low of $3.26 and a 52-week high of $18.36. The stock has a 50-day simple moving average of $4.03 and a 200 day simple moving average of $6.70.

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.08 dividend on an annualized basis and a yield of 2.23%. 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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