Stock Track | Range Resources Surges 6% in Pre-Market on Solid Q3 Earnings Beat

Stock Track10-23

Shares of Range Resources Corporation (RRC) soared 6.42% in pre-market trading on Tuesday, driven by the company's better-than-expected earnings for the third quarter of 2024.

The energy company reported adjusted earnings per share (EPS) of $0.48 for the quarter ended September 30, surpassing analysts' consensus estimate of $0.38. This solid earnings beat came despite the company's revenue of $533.28 million, which fell short of Wall Street's expectations of $616.14 million.

The strong Q3 performance has led to mixed reactions from analysts. Mizuho Securities analyst Nitin Kumar CFA maintained a "Buy" rating on RRC, citing the company's operational momentum and strategic positioning. However, Benchmark Co. analyst Subash Chandra reaffirmed a "Hold" rating, indicating a more cautious outlook.

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