Of the 13 analysts covering First Republic, one has a Buy or Strong Buy rating and the others rate the shares at Hold. At a price of around $13.75 a share, the upside potential to a median price target of $25.00 is 81.8%. At the high price target of $150.00, someone has obviously forgotten how the game is played.
Analysts expect the bank to post first-quarter revenue of $1.13 billion, down 21.4% sequentially and 21.5% lower year over year. Adjusted EPS are forecast at $0.64, down 4.8% sequentially but 16.4% higher year over year. For the full 2023 fiscal year, the bank is expected to report revenue of $3.32 billion, down 43.3%, and a loss per share of $0.87, compared to last year’s EPS of $8.25.
The stock’s 52-week range is $11.52 to $171.06. Total shareholder return for the past year was negative 91.45%.
Range Resources
Independent oil and gas producer Range Resources Corp. (NYSE: RRC) has posted a 12-month share price decrease of nearly 20%. If not for periodic rumors that the company was a takeover target, the price decline could be worse. Natural gas prices have declined by more than 70% since their peak in September, and crude oil has dropped 24.5% over the past year. If the company misses Wall Street estimates after markets close on Monday, an acquisition may be seriously on the agenda.
As a group, analysts are wary. Of 26 brokerages covering the stock, 12 have a Hold rating and 10 have a Buy or Strong Buy rating. At a share price of around $26.00, the stock’s upside potential based on a median price target of $30.50 is 11.5%. At the high price target of $51.00, the upside potential is 96%.
For the first quarter, Range Resources is expected to report revenue of $797.66 million, down 51.1% sequentially but up from sales of $180.74 million a year ago. Adjusted EPS are forecast at $0.84, down 35.6% sequentially and by 28.8% year over year. For the full 2023 fiscal year, analysts are looking for EPS of $2.65, down 48.1%, and revenue of $2.98 billion, down 28.3%.
Range Resources stock trades at 9.8 times expected 2023 EPS, 7.3 times estimated 2024 earnings of $3.56 and 5.5 times estimated 2025 earnings of $4.75 per share. The stock’s 52-week range is $22.61 to $37.44, and the company pays a dividend of $0.32 (yield of 1.2%). Total shareholder return for the past 12 months was negative 19.74%.
Originally published at 24/7 Wall St.
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