S&P 500 (NYSE:SPY) component Range Resources Corporation (NYSE:RRC) will unveil its latest earnings on Monday, July 25, 2011. Range Resources Corporation is an independent natural gas company that primarily explores and develops gas properties in the Southwestern and Appalachian regions of the U.S.
Range Resources Corporation Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of 12 cents per share, a rise of 20% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 4 cents. Between one and three months ago, the average estimate moved up, and has risen from 8 cents during the last month. For the year, analysts are projecting profit of 52 cents per share, a rise of 44.4% from last year.
Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the first quarter, it reported net income of 22 cents per share against a mean estimate of profit of 5 cents per share. In the fourth quarter of the last fiscal year, it missed forecasts by 3 cents.
Wall St. Revenue Expectations: On average, analysts predict $260.6 million in revenue this quarter, a rise of 26% from the year ago quarter. Analysts are forecasting total revenue of $1.1 billion for the year, a rise of 20.9% from last year’s revenue of $909.6 million.
Analyst Ratings: Analysts are bullish on Range Resources as 16 analysts rate it as a buy, two rate it as a sell and 14 rate it as a hold.
A year-over-year revenue decrease in the first quarter snaps a streak of three consecutive quarters of revenue increases. Revenue fell 4.9% in the first quarter and rose 3.3%in the fourth quarter of the last fiscal year, 6.5% in the third quarter of the last fiscal year and 9% in the second quarter of the last fiscal year.
Competitors to Watch: Vanguard Natural Resources, LLC (NYSE:VNR), EV Energy Partners, L.P. (NASDAQ:EVEP), NGAS Resources, Inc. (NASDAQ:NGAS), Atlas Energy, Inc. (NASDAQ:ATLS), New Concept Energy, Inc. (AMEX:GBR), Rex Energy Corporation (NASDAQ:REXX), BreitBurn Energy Partners L.P. (NASDAQ:BBEP), EQT Corporation (NYSE:EQT), Chesapeake Energy Corp. (NYSE:CHK), and Anadarko Petroleum Corp. (NYSE:APC).
Stock Price Performance: During June 20, 2011 to July 19, 2011, the stock price had risen $11.34 (21.7%) from $52.18 to $63.52. The stock price saw one of its best stretches over the last year between June 27, 2011 and July 7, 2011 when shares rose for eight-straight days, rising 9.6% (+$5.02) over that span. It saw one of its worst periods between December 3, 2010 and December 14, 2010 when shares fell for eight-straight days, falling 8.2% (-$3.72) over that span. Shares are up $18.61 (+41.4%) year to date.
(Source: Xignite Financials)
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