Comstock Resources (CRK) closed the most recent trading day at $9.21, moving -1.71% from the previous trading session. This move lagged the S&P 500's daily gain of 1.71%.
Prior to today's trading, shares of the oil and gas company had gained 2.52% over the past month. This has lagged the Oils-Energy sector's gain of 11.88% and outpaced the S&P 500's loss of 2.25% in that time.
Wall Street will be looking for positivity from CRK as it approaches its next earnings report date. This is expected to be November 2, 2021. On that day, CRK is projected to report earnings of $0.36 per share, which would represent year-over-year growth of 700%. Meanwhile, our latest consensus estimate is calling for revenue of $419.33 million, up 135.56% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.22 per share and revenue of $1.46 billion. These totals would mark changes of +430.43% and +70.42%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for CRK. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.91% higher. CRK is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note CRK's current valuation metrics, including its Forward P/E ratio of 7.68. For comparison, its industry has an average Forward P/E of 10.44, which means CRK is trading at a discount to the group.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 25, putting it in the top 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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