QEP Resources, Inc. (QEP) Expected to Announce Earnings of -$0.20 Per Share
Wall Street brokerages forecast that QEP Resources, Inc. (NYSE:QEP) will post earnings of ($0.20) per share for the current quarter, Zacks reports. Six analysts have made estimates for QEP Resources’ earnings. The lowest EPS estimate is ($0.25) and the highest is ($0.12). QEP Resources reported earnings of ($0.21) per share in the same quarter last year, which indicates a positive year over year growth rate of 4.8%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that QEP Resources will report full-year earnings of ($0.75) per share for the current financial year, with EPS estimates ranging from ($0.88) to ($0.51). For the next year, analysts forecast that the firm will report earnings of ($0.45) per share, with EPS estimates ranging from ($0.68) to ($0.15). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow QEP Resources.
QEP Resources (NYSE:QEP) last released its quarterly earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.08. The business had revenue of $383.70 million during the quarter, compared to analyst estimates of $413.27 million. QEP Resources had a negative return on equity of 4.78% and a negative net margin of 19.81%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the business posted ($0.23) earnings per share.
A number of equities analysts recently commented on the stock. BidaskClub lowered shares of QEP Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday. J P Morgan Chase & Co lowered shares of QEP Resources from an “overweight” rating to a “neutral” rating in a research note on Thursday. Cowen and Company set a $12.00 price objective on shares of QEP Resources and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Deutsche Bank AG lowered shares of QEP Resources from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $18.00 to $13.00 in a research note on Tuesday, July 18th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $11.00 price objective on shares of QEP Resources in a research note on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.54.
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QEP Resources (NYSE QEP) opened at 7.93 on Friday. The stock’s market capitalization is $1.91 billion. The company has a 50-day moving average price of $9.44 and a 200-day moving average price of $12.59. QEP Resources has a 12-month low of $7.62 and a 12-month high of $21.12.
Large investors have recently modified their holdings of the stock. Suntrust Banks Inc. raised its stake in shares of QEP Resources by 5.4% in the first quarter. Suntrust Banks Inc. now owns 12,788 shares of the pipeline company’s stock worth $161,000 after buying an additional 651 shares during the period. Pitcairn Co. raised its stake in shares of QEP Resources by 1.9% in the first quarter. Pitcairn Co. now owns 12,949 shares of the pipeline company’s stock worth $164,000 after buying an additional 239 shares during the period. Flinton Capital Management LLC raised its stake in shares of QEP Resources by 4.4% in the first quarter. Flinton Capital Management LLC now owns 13,040 shares of the pipeline company’s stock worth $166,000 after buying an additional 544 shares during the period. Parkwood LLC bought a new stake in shares of QEP Resources during the second quarter worth about $191,000. Finally, LS Investment Advisors LLC raised its stake in shares of QEP Resources by 21.1% in the second quarter. LS Investment Advisors LLC now owns 19,064 shares of the pipeline company’s stock worth $193,000 after buying an additional 3,316 shares during the period. 92.46% of the stock is owned by institutional investors.
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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