QR Energy (QRE) Announces Quarterly Earnings Results, Misses Estimates By $1.36 EPS
QR Energy (NYSE:QRE) posted its quarterly earnings results on Thursday. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by $1.36, AR Network reports. The company had revenue of $133.30 million for the quarter, compared to the consensus estimate of $130.30 million. The company’s revenue for the quarter was up 8.7% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at TheStreet downgraded shares of QR Energy from a “buy” rating to a “hold” rating in a research note on Friday, May 9th. On the ratings front, analysts at Citigroup Inc. cut their price target on shares of QR Energy from $20.00 to $19.00 in a research note on Thursday, May 8th. They now have a “neutral” rating on the stock. Finally, analysts at Wunderlich downgraded shares of QR Energy from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. They now have a $18.00 price target on the stock, down previously from $20.00. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $19.67.
Shares of QR Energy (NYSE:QRE) traded up 9.54% on Thursday, hitting $20.67. 2,628,216 shares of the company’s stock traded hands. QR Energy has a 52 week low of $16.10 and a 52 week high of $19.07. The stock has a 50-day moving average of $18.37 and a 200-day moving average of $17.98. The company’s market cap is $1.341 billion.
QR Energy, LP (NYSE:QRE) is engaged in the acquisition, exploitation, development and production of oil and natural gas properties, and the Company’s business activities are conducted through OLLC, its wholly owned subsidiary.
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