Comstock Resources (CRK Quick QuoteCRK ) closed the most recent trading day at $17.54, moving +1.39% from the previous trading session. The stock lagged the S&P 500’s daily gain of 2.65%. Meanwhile, the Dow gained 1.86%, and the Nasdaq, a tech-heavy index, added 0.24%.
Coming into today, shares of the oil and gas company had lost 8.71% in the past month. In that same time, the Oils-Energy sector lost 4.88%, while the S&P 500 lost 8.99%.
Wall Street will be looking for positivity from Comstock Resources as it approaches its next earnings report date. This is expected to be November 8, 2022. The company is expected to report EPS of $1.15, up 238.24% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $881.4 million, up 72.42% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.85 per share and revenue of $3.14 billion. These totals would mark changes of +231.9% and +69.78%, respectively, from last year.
Any recent changes to analyst estimates for Comstock Resources should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 3.85% higher. Comstock Resources currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Comstock Resources currently has a Forward P/E ratio of 4.5. For comparison, its industry has an average Forward P/E of 4.98, which means Comstock Resources 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 industry currently has a Zacks Industry Rank of 31, which puts it in the top 13% 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.