Range Resources Corporation (NYSE:RRC) is projected to declare fiscal fourth quarter financial results right before the stock market’s official open on February 28, 2017. The stock lost about -4.6 percent in price since last results when it was at $35.87 a share. Based on the most relevant past-periods data, there is an 53.57 percent probability for this firm’s share price to go down following next quarterly results. Earnings reaction history tells us that the equity price moved down 15 times out of last 28 reported quarters. It has beaten earnings-per-share estimates 58.% of the time in its last 12 earnings reports. It fell short of earnings estimates on 4 occasions, and it has met expectations 1 time.
Here’s how traders responded to RRC earnings announcements over the past few quarters.
Range Resources Corporation (RRC) Earnings Surprises & Reaction
Given its history, the average earnings announcement surprise was -2423.06 percent over the past four quarters. Back on October 25, 2016, it posted earnings per-share earnings at $-0.23 which beat the consensus $-0.27 projection (positive surprise of14.81%. For the quarter, revenue came in at 401.77M versus consensus estimate of 351.54M. The stock dropped -2.62 percent the session following the earnings reports were released, and on 7th day price change was -9.23 percent.
On July 26, 2016, it reported earnings at $-0.21 a share compared with the consensus estimate of $-0.29 per share (positive surprise of 27.59%). Revenue of 362.68M for that quarter was above the $326.8M analysts had expected. The stock retreated -3.3% the day following the earnings announcement, and on 7th day price change was -7.01%.
On April 28, 2016, it recorded $-0.22 a share in earnings which topped the consensus estimate of $-0.26 (positive surprise of 15.38%). Revenue for the quarter was $353.97M while analysts called for revenues to be $319.86M. The stock gained 8.23% the day following the earnings data was made public, and on 7th day price change was 4.08%.
On February 25, 2016, it announced earnings per share at $-1.93 versus the consensus estimate of $0.02 per share (negative surprise of -9750%). That came on revenues of $415.86M for that period. Analysts had expected $403.2M in revenue.
Range Resources Corporation Earnings Estimates
As Q4 earnings announcement date approaches, Wall Street is expecting earnings per share of $0.13. The analysts’ present consensus range is $0.03-$0.36 for EPS. The market consensus range for revenue is between $491.53M and $653.1M, with an average of $537.76M.
Range Resources Corporation (NYSE:RRC) last ended at $32.76, sending the company’s market cap near $8B. The consensus 12-month price target from analysts covering the stock is $47.31. The share price has declined -30.17% from its top level in 52 weeks and advanced -4.66% this year. It recently traded in a range of $32.61-$33.88 at a volume of 4130907 shares. The recent trading ended with the price nearly -4.66 lower for the last 5 trading days, rebounding 70.91% from its 52-week low.