Comstock Resources (CRK) Stock Moves -0.79%: What You Should Know
Comstock Resources (CRK) closed the most recent trading day at $18.90, moving -0.79% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.13%. Elsewhere, the Dow lost 1.01%, while the tech-heavy Nasdaq lost 0.14%.
Prior to today's trading, shares of the oil and gas company had lost 2.61% over the past month. This has lagged the Oils-Energy sector's loss of 1.89% and was narrower than the S&P 500's loss of 7.59% in that time.
Investors will be hoping for strength from Comstock Resources as it approaches its next earnings release. In that report, analysts expect Comstock Resources to post earnings of $1 per share. This would mark year-over-year growth of 194.12%. Meanwhile, our latest consensus estimate is calling for revenue of $756.67 million, up 48.02% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.71 per share and revenue of $2.89 billion, which would represent changes of +219.83% and +56.35%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Comstock Resources. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 13.74% higher within the past month. Comstock Resources is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Comstock Resources has a Forward P/E ratio of 5.14 right now. For comparison, its industry has an average Forward P/E of 5.1, which means Comstock Resources is trading at a premium to the group.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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