Range Resources Corp. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Range Resources Corporation (NYSE:RRC) will unveil its latest earnings on Tuesday, October 25, 2011. Range Resources is an independent natural gas company that primarily explores and develops gas properties in the Southwestern and Appalachian regions of the United States.

Range Resources Corporation Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 24 cents per share, a rise of 84.6% 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 14 cents. Between one and three months ago, the average estimate moved up. It has dropped from 41 cents during the last month. For the year, analysts are projecting net income of 76 cents per share, a rise of more than twofold from last year.

Past Earnings Performance: Last quarter, the company beat estimates by 15 cents, coming in at profit of 27 cents per share against an estimate of net income of. The company also topped expectations in the first quarter.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 23.2% in revenue from the year-earlier quarter to $270.6 million.

Analyst Ratings: Analysts are bullish on Range Resources as 14 analysts rate it as a buy, three rate it as a sell and 17 rate it as a hold.

A Look Back: In the second quarter, profit rose more than fivefold to $51.3 million (32 cents a share) from $9.1 million (6 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 23% to $255.2 million from $207.5 million.

Key Stats:

Range Resources’ profit last quarter followed losses in the three previous quarters. The company reported a loss of $25 million in the first quarter, a loss of $317.7 million in the fourth of the last fiscal year and a loss of $8.2 million in the third quarter of the last fiscal year.

Revenue rose in the second quarter after seeing a drop the quarter before. In the first quarter, revenue fell 4.9%.

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 August 23, 2011 to October 19, 2011, the stock price had risen $12.12 (20.5%) from $59.16 to $71.28. 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% (+$5.01) 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% (-$3.71) over that span. Shares are up $26.40 (+58.8%) year to date.

(Source: Xignite Financials)

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