Zacks: Analysts Anticipate Comstock Resources, Inc. (CRK) Will Post Earnings of -$1.31 Per Share

Equities analysts expect Comstock Resources, Inc. (NYSE:CRK) to announce ($1.31) earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Comstock Resources’ earnings, with the lowest EPS estimate coming in at ($1.85) and the highest estimate coming in at ($0.26). Comstock Resources reported earnings of ($3.27) per share during the same quarter last year, which would indicate a positive year over year growth rate of 59.9%. The firm is expected to announce its next quarterly earnings results on Tuesday, November 14th.

On average, analysts expect that Comstock Resources will report full year earnings of ($5.03) per share for the current financial year, with EPS estimates ranging from ($6.09) to ($3.43). For the next year, analysts expect that the company will report earnings of ($2.98) per share, with EPS estimates ranging from ($7.75) to ($0.33). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Comstock Resources.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Monday, August 7th. The oil and gas producer reported ($1.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.67) by $0.60. The business had revenue of $61.47 million for the quarter, compared to analyst estimates of $63.93 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share.

A number of equities analysts have recently issued reports on the stock. Capital One Financial Corporation reiterated an “underweight” rating on shares of Comstock Resources in a report on Monday, August 7th. Zacks Investment Research cut shares of Comstock Resources from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Stifel Nicolaus set a $12.00 price objective on shares of Comstock Resources and gave the company a “buy” rating in a research note on Monday, August 14th. Finally, ValuEngine cut shares of Comstock Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $13.20.

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Comstock Resources (NYSE CRK) traded down 1.00% during trading on Friday, reaching $4.96. 180,442 shares of the company were exchanged. Comstock Resources has a 12 month low of $4.77 and a 12 month high of $13.42. The firm’s market capitalization is $76.77 million. The stock has a 50 day moving average price of $6.06 and a 200 day moving average price of $7.26.

A number of hedge funds and other institutional investors have recently modified their holdings of CRK. SG Americas Securities LLC acquired a new stake in Comstock Resources in the 1st quarter valued at about $176,000. Northern Trust Corp grew its stake in Comstock Resources by 3.4% in the 2nd quarter. Northern Trust Corp now owns 31,745 shares of the oil and gas producer’s stock valued at $225,000 after acquiring an additional 1,055 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Comstock Resources by 7.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 48,105 shares of the oil and gas producer’s stock valued at $340,000 after acquiring an additional 3,345 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Comstock Resources by 23.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 54,970 shares of the oil and gas producer’s stock valued at $389,000 after acquiring an additional 10,480 shares during the last quarter. Finally, First Washington CORP acquired a new stake in Comstock Resources in the 2nd quarter valued at about $795,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Comstock Resources Company Profile

Comstock Resources, Inc is an energy company engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates in the segment of exploration and production of oil and natural gas. The Company’s oil and gas operations are concentrated in Texas and Louisiana.

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Earnings History and Estimates for Comstock Resources (NYSE:CRK)

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