Brokerages expect QEP Resources Inc (NYSE:QEP) to report sales of $501.91 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for QEP Resources’ earnings, with estimates ranging from $457.00 million to $550.00 million. QEP Resources posted sales of $390.10 million during the same quarter last year, which suggests a positive year-over-year growth rate of 28.7%. The company is scheduled to report its next earnings report on Wednesday, October 24th.
On average, analysts expect that QEP Resources will report full-year sales of $1.85 billion for the current fiscal year, with estimates ranging from $1.67 billion to $2.02 billion. For the next financial year, analysts expect that the company will post sales of $1.89 billion, with estimates ranging from $1.67 billion to $2.27 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover QEP Resources.
QEP Resources (NYSE:QEP) last released its earnings results on Wednesday, July 25th. The pipeline company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.18. The company had revenue of $532.40 million for the quarter, compared to analyst estimates of $434.12 million. QEP Resources had a positive return on equity of 5.96% and a negative net margin of 13.63%. QEP Resources’s quarterly revenue was up 38.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.12) EPS.
Several research firms have recently issued reports on QEP. KLR Group reissued a “buy” rating and set a $14.00 target price on shares of QEP Resources in a report on Monday, August 20th. Williams Capital reissued a “buy” rating and set a $18.00 target price on shares of QEP Resources in a report on Monday, July 23rd. Oppenheimer began coverage on QEP Resources in a report on Wednesday, October 3rd. They set an “outperform” rating and a $15.00 target price on the stock. Johnson Rice lowered QEP Resources from a “buy” rating to an “accumulate” rating in a research note on Thursday, July 26th. Finally, TheStreet lowered QEP Resources from a “c-” rating to a “d+” rating in a research note on Thursday, August 9th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.20.
A number of large investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can boosted its stake in QEP Resources by 2.8% in the first quarter. Great West Life Assurance Co. Can now owns 146,122 shares of the pipeline company’s stock valued at $1,431,000 after buying an additional 4,000 shares in the last quarter. Vident Investment Advisory LLC boosted its stake in shares of QEP Resources by 1.5% during the second quarter. Vident Investment Advisory LLC now owns 344,774 shares of the pipeline company’s stock valued at $4,227,000 after purchasing an additional 5,169 shares in the last quarter. People s United Financial Inc. boosted its stake in shares of QEP Resources by 19.8% during the second quarter. People s United Financial Inc. now owns 32,268 shares of the pipeline company’s stock valued at $395,000 after purchasing an additional 5,322 shares in the last quarter. Federated Investors Inc. PA boosted its stake in shares of QEP Resources by 9.4% during the second quarter. Federated Investors Inc. PA now owns 64,125 shares of the pipeline company’s stock valued at $786,000 after purchasing an additional 5,510 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of QEP Resources by 80.4% during the second quarter. Cubist Systematic Strategies LLC now owns 13,142 shares of the pipeline company’s stock valued at $161,000 after purchasing an additional 5,858 shares in the last quarter. 99.19% of the stock is currently owned by institutional investors and hedge funds.
QEP opened at $11.15 on Friday. The firm has a market cap of $2.68 billion, a PE ratio of 14.52 and a beta of 1.29. QEP Resources has a 52-week low of $7.04 and a 52-week high of $13.77. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.79.
About QEP Resources
QEP Resources, Inc, through its subsidiaries, operates as a natural gas and crude oil exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in western Texas, Williston Basin in North Dakota, Haynesville/Cotton Valley in northwestern Louisiana, Uinta Basin in eastern Utah, and other proven properties in Wyoming, Utah, and Colorado.
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