EQT Corporation (EQT) Expected to Post Quarterly Sales of $685.86 Million
Brokerages expect EQT Corporation (NYSE:EQT) to announce $685.86 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for EQT Corporation’s earnings, with estimates ranging from $617.00 million to $761.10 million. EQT Corporation reported sales of $556.73 million during the same quarter last year, which indicates a positive year over year growth rate of 23.2%. The firm is expected to issue its next quarterly earnings report on Thursday, October 26th.
According to Zacks, analysts expect that EQT Corporation will report full year sales of $685.86 million for the current financial year, with estimates ranging from $2.64 billion to $3.51 billion. For the next financial year, analysts forecast that the business will report sales of $5.19 billion per share, with estimates ranging from $4.57 billion to $6.00 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover EQT Corporation.
EQT Corporation (NYSE:EQT) last released its earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. The firm had revenue of $631.10 million during the quarter, compared to analyst estimates of $642.21 million. EQT Corporation had a net margin of 0.20% and a return on equity of 0.91%. The firm’s revenue for the quarter was up 720.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.35) earnings per share.
A number of brokerages recently commented on EQT. Jefferies Group LLC reiterated a “hold” rating and issued a $69.00 price objective on shares of EQT Corporation in a research report on Tuesday, July 4th. Scotia Howard Weill upgraded EQT Corporation from a “sector perform” rating to a “sector outperform” rating in a report on Friday, July 14th. Royal Bank Of Canada restated a “hold” rating and set a $78.00 target price on shares of EQT Corporation in a report on Thursday, July 20th. Scotiabank set a $82.00 target price on EQT Corporation and gave the stock a “hold” rating in a report on Saturday, April 22nd. Finally, BidaskClub cut EQT Corporation from a “buy” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. EQT Corporation has an average rating of “Buy” and an average target price of $79.92.
In related news, insider David E. Jr. Schlosser bought 10,000 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was purchased at an average cost of $50.96 per share, for a total transaction of $509,600.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director A. Bray Jr. Cary bought 28,000 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were bought at an average price of $53.55 per share, with a total value of $1,499,400.00. Following the completion of the transaction, the director now owns 22,627 shares in the company, valued at approximately $1,211,675.85. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 41,901 shares of company stock valued at $2,211,775. Corporate insiders own 1.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in EQT. Point72 Asia Hong Kong Ltd bought a new stake in EQT Corporation during the first quarter worth $110,000. Invictus RG acquired a new stake in shares of EQT Corporation during the first quarter valued at $119,000. Pacer Advisors Inc. increased 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 valued at $199,000 after buying an additional 99 shares in the last quarter. Aureus Asset Management LLC acquired a new stake in shares of EQT Corporation during the second quarter valued at $205,000. Finally, Wetherby Asset Management Inc. acquired a new stake in shares of EQT Corporation during the first quarter valued at $211,000. Hedge funds and other institutional investors own 90.07% of the company’s stock.
EQT Corporation (EQT) opened at 61.05 on Friday. EQT Corporation has a 52-week low of $49.63 and a 52-week high of $75.74. The company has a market cap of $10.58 billion, a price-to-earnings ratio of 2180.36 and a beta of 0.77. The stock’s 50 day moving average is $61.93 and its 200 day moving average is $59.80.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.20%. EQT Corporation’s payout ratio is 400.13%.
EQT Corporation Company Profile
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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