QEP Resources, Inc. (QEP) Expected to Announce Quarterly Sales of $384.04 Million

Wall Street analysts expect that QEP Resources, Inc. (NYSE:QEP) will report sales of $384.04 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for QEP Resources’ earnings. The highest sales estimate is $415.00 million and the lowest is $368.00 million. QEP Resources posted sales of $399.70 million during the same quarter last year, which would indicate a negative year over year growth rate of 3.9%. The company is scheduled to announce its next earnings results after the market closes on Wednesday, February 21st.

According to Zacks, analysts expect that QEP Resources will report full year sales of $384.04 million for the current year, with estimates ranging from $1.53 billion to $1.63 billion. For the next year, analysts forecast that the firm will post sales of $1.71 billion per share, with estimates ranging from $1.63 billion to $1.90 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow QEP Resources.

QEP has been the subject of a number of recent analyst reports. Credit Suisse Group initiated coverage on shares of QEP Resources in a research note on Monday, December 11th. They issued an “underperform” rating and a $9.00 price objective for the company. Zacks Investment Research raised shares of QEP Resources from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Tuesday, December 26th. Williams Capital initiated coverage on shares of QEP Resources in a research note on Friday, December 8th. They issued a “buy” rating and a $13.00 price objective for the company. Barclays raised their price objective on shares of QEP Resources from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. Finally, BMO Capital Markets set a $11.00 price objective on shares of QEP Resources and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $13.00.

QEP Resources (NYSE QEP) opened at $10.27 on Friday. QEP Resources has a 52 week low of $7.02 and a 52 week high of $18.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.55 and a quick ratio of 1.54. The company has a market cap of $2,522.59, a P/E ratio of -171.14 and a beta of 1.73.

Large investors have recently modified their holdings of the business. Suntrust Banks Inc. boosted its stake in shares of QEP Resources by 5.8% during the 2nd quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock valued at $135,000 after buying an additional 748 shares during the period. Southport Management L.L.C. acquired a new stake in shares of QEP Resources during the 3rd quarter valued at $171,000. Bbva Compass Bancshares Inc. acquired a new stake in shares of QEP Resources during the 3rd quarter valued at $178,000. State of Alaska Department of Revenue acquired a new stake in shares of QEP Resources during the 4th quarter valued at $178,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of QEP Resources during the 3rd quarter valued at $179,000. 92.91% of the stock is owned by institutional investors.

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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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Earnings History and Estimates for QEP Resources (NYSE:QEP)

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