Zacks: Brokerages Expect QEP Resources, Inc. (QEP) Will Announce Quarterly Sales of $382.15 Million
Wall Street brokerages expect that QEP Resources, Inc. (NYSE:QEP) will post sales of $382.15 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for QEP Resources’ earnings, with the highest sales estimate coming in at $415.00 million and the lowest estimate coming in at $368.00 million. QEP Resources reported sales of $399.70 million during the same quarter last year, which indicates a negative year over year growth rate of 4.4%. The business is expected to issue its next quarterly earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that QEP Resources will report full year sales of $382.15 million for the current year, with estimates ranging from $1.53 billion to $1.62 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.71 billion per share, with estimates ranging from $1.60 billion to $1.90 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover QEP Resources.
QEP Resources (NYSE:QEP) last issued its quarterly earnings data on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.11. The business had revenue of $390.10 million during the quarter, compared to the consensus estimate of $393.87 million. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) EPS.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of QEP Resources from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Tuesday. Credit Suisse Group assumed coverage on shares of QEP Resources in a report on Monday, December 11th. They issued an “underperform” rating and a $9.00 target price on the stock. Williams Capital assumed coverage on shares of QEP Resources in a report on Friday, December 8th. They issued a “buy” rating and a $13.00 target price on the stock. Mizuho raised shares of QEP Resources from a “neutral” rating to a “buy” rating in a report on Tuesday, November 21st. Finally, BMO Capital Markets set a $11.00 target price on shares of QEP Resources and gave the company a “buy” rating in a report on Tuesday, November 14th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $13.76.
A number of institutional investors and hedge funds have recently made changes to their positions in QEP. Commerce Bank acquired a new position in shares of QEP Resources during the 2nd quarter worth $102,000. Suntrust Banks Inc. grew its stake in shares of QEP Resources by 5.8% during the 2nd quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock worth $135,000 after purchasing an additional 748 shares during the period. Southport Management L.L.C. acquired a new position in shares of QEP Resources during the 3rd quarter worth $171,000. Bbva Compass Bancshares Inc. acquired a new position in shares of QEP Resources during the 3rd quarter worth $178,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of QEP Resources during the 3rd quarter worth $179,000. 93.12% of the stock is currently owned by institutional investors.
Shares of QEP Resources (QEP) traded up $0.25 during trading hours on Tuesday, hitting $9.85. 1,965,485 shares of the stock traded hands, compared to its average volume of 4,972,348. The stock has a market cap of $2,312.98, a P/E ratio of -164.14 and a beta of 1.73. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 0.52. QEP Resources has a twelve month low of $7.02 and a twelve month high of $19.52.
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About QEP Resources
QEP Resources, Inc is an independent crude oil and natural gas exploration and production company. The Company focuses on two regions of the United States: the Northern Region (primarily in North Dakota, Wyoming and Utah) and the Southern Region (primarily in Texas and Louisiana). The Company conducts exploration and production activities in North America’s hydrocarbon resource plays.
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