Zacks: Analysts Anticipate EQT Corporation (NYSE:EQT) Will Post Quarterly Sales of $638.35 Million
Equities research analysts expect that EQT Corporation (NYSE:EQT) will announce sales of $638.35 million for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for EQT Corporation’s earnings, with estimates ranging from $592.00 million to $681.70 million. EQT Corporation reported sales of $390.08 million during the same quarter last year, which suggests a positive year-over-year growth rate of 63.6%. The company is expected to issue its next earnings results on Thursday, July 27th.
According to Zacks, analysts expect that EQT Corporation will report full-year sales of $638.35 million for the current fiscal year, with estimates ranging from $2.75 billion to $3.55 billion. For the next year, analysts forecast that the firm will report sales of $3.37 billion per share, with estimates ranging from $3.24 billion to $3.53 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover EQT Corporation.
EQT Corporation (NYSE:EQT) last released its earnings results on Thursday, April 27th. The oil and gas producer reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The firm had revenue of $897.50 million during the quarter, compared to the consensus estimate of $713.65 million. EQT Corporation had a negative net margin of 15.03% and a positive return on equity of 0.18%. The company’s revenue was up 64.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 EPS.
Several research analysts have issued reports on EQT shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $88.00 price target on shares of EQT Corporation in a report on Tuesday, March 28th. Jefferies Group LLC reiterated a “hold” rating and issued a $69.00 price target on shares of EQT Corporation in a report on Tuesday. Scotiabank set a $80.00 price target on EQT Corporation and gave the stock a “hold” rating in a report on Monday, March 27th. KLR Group reiterated a “buy” rating and issued a $102.00 price target (up previously from $92.00) on shares of EQT Corporation in a report on Monday, June 26th. Finally, Stifel Nicolaus started coverage on EQT Corporation in a report on Thursday, March 23rd. They issued a “buy” rating and a $63.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. EQT Corporation has an average rating of “Hold” and an average price target of $79.71.
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EQT Corporation (NYSE EQT) traded down 1.90% during midday trading on Friday, reaching $57.88. The company’s stock had a trading volume of 1,624,622 shares. EQT Corporation has a 52-week low of $49.63 and a 52-week high of $79.64. The firm has a 50 day moving average of $56.01 and a 200 day moving average of $60.47. The firm’s market cap is $10.03 billion.
In other EQT Corporation news, Director A. Bray Jr. Cary purchased 28,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The shares were acquired at an average cost of $53.55 per share, for a total transaction of $1,499,400.00. Following the completion of the acquisition, the director now owns 22,627 shares of the company’s stock, valued at approximately $1,211,675.85. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven T. Schlotterbeck purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were acquired at an average price of $52.14 per share, for a total transaction of $104,280.00. Following the completion of the acquisition, the chief executive officer now directly owns 115,178 shares of the company’s stock, valued at approximately $6,005,380.92. The disclosure for this purchase can be found here. Insiders have purchased 41,901 shares of company stock worth $2,211,775 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Point72 Asia Hong Kong Ltd acquired a new stake in shares of EQT Corporation during the first quarter worth approximately $110,000. Invictus RG acquired a new stake in shares of EQT Corporation during the first quarter worth approximately $119,000. Pacer Advisors Inc. raised its stake in shares of EQT Corporation by 3.1% in the first quarter. Pacer Advisors Inc. now owns 3,255 shares of the oil and gas producer’s stock worth $199,000 after buying an additional 99 shares during the period. Wetherby Asset Management Inc. acquired a new stake in shares of EQT Corporation during the first quarter worth approximately $211,000. Finally, Fisher Asset Management LLC raised its stake in shares of EQT Corporation by 7.0% in the first quarter. Fisher Asset Management LLC now owns 3,474 shares of the oil and gas producer’s stock worth $212,000 after buying an additional 226 shares during the period. Institutional investors and hedge funds own 90.78% of the company’s stock.
About EQT Corporation
EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.
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