QEP Resources, Inc. (NYSE:QEP) Expected to Announce Quarterly Sales of $420.38 Million
Wall Street analysts forecast that QEP Resources, Inc. (NYSE:QEP) will report $420.38 million in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for QEP Resources’ earnings, with the highest sales estimate coming in at $447.40 million and the lowest estimate coming in at $398.00 million. QEP Resources reported sales of $333.70 million in the same quarter last year, which indicates a positive year-over-year growth rate of 26%. The business is expected to issue its next quarterly earnings results after the market closes on Wednesday, July 26th.
On average, analysts expect that QEP Resources will report full year sales of $420.38 million for the current fiscal year, with estimates ranging from $1.66 billion to $1.94 billion. For the next year, analysts forecast that the business will post sales of $2.19 billion per share, with estimates ranging from $1.95 billion to $2.49 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover QEP Resources.
QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, April 26th. The pipeline company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.07. The firm had revenue of $420.10 million for the quarter, compared to analysts’ expectations of $402.16 million. QEP Resources had a negative net margin of 19.81% and a negative return on equity of 4.78%. The firm’s quarterly revenue was up 60.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.53) earnings per share.
Several research analysts recently commented on the company. Mizuho cut QEP Resources from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a research report on Tuesday, March 21st. Credit Suisse Group assumed coverage on QEP Resources in a research report on Thursday, June 1st. They issued a “neutral” rating and a $15.00 target price for the company. KLR Group raised their target price on QEP Resources from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Stifel Nicolaus assumed coverage on QEP Resources in a research report on Wednesday, April 12th. They issued a “buy” rating and a $21.00 target price for the company. Finally, Wolfe Research initiated coverage on QEP Resources in a research report on Thursday, June 15th. They issued a “market perform” rating for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $19.36.
QEP Resources (QEP) traded down 1.34% during mid-day trading on Thursday, reaching $9.55. 2,464,837 shares of the company traded hands. The company’s market capitalization is $2.30 billion. QEP Resources has a 52-week low of $8.78 and a 52-week high of $21.12. The stock has a 50 day moving average price of $10.20 and a 200-day moving average price of $13.87.
Several institutional investors have recently bought and sold shares of QEP. Viking Fund Management LLC bought a new position in QEP Resources during the first quarter valued at about $5,465,000. Capstone Asset Management Co. raised its position in QEP Resources by 3.9% in the first quarter. Capstone Asset Management Co. now owns 18,947 shares of the pipeline company’s stock valued at $241,000 after buying an additional 710 shares during the last quarter. Peregrine Capital Management LLC raised its position in QEP Resources by 7.4% in the first quarter. Peregrine Capital Management LLC now owns 854,227 shares of the pipeline company’s stock valued at $11,037,000 after buying an additional 58,658 shares during the last quarter. New England Research & Management Inc. raised its position in QEP Resources by 59.6% in the first quarter. New England Research & Management Inc. now owns 30,000 shares of the pipeline company’s stock valued at $381,000 after buying an additional 11,200 shares during the last quarter. Finally, Thompson Rubinstein Investment Management Inc. OR raised its position in QEP Resources by 25.7% in the first quarter. Thompson Rubinstein Investment Management Inc. OR now owns 186,454 shares of the pipeline company’s stock valued at $2,370,000 after buying an additional 38,096 shares during the last quarter. Institutional investors own 92.24% of the company’s stock.
QEP Resources Company Profile
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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