Zacks: Brokerages Anticipate QEP Resources Inc (NYSE:QEP) Will Announce Quarterly Sales of $231.54 Million

Equities research analysts expect that QEP Resources Inc (NYSE:QEP) will report $231.54 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for QEP Resources’ earnings. The lowest sales estimate is $208.00 million and the highest is $246.08 million. QEP Resources reported sales of $307.50 million in the same quarter last year, which would suggest a negative year over year growth rate of 24.7%. The business is scheduled to issue its next earnings results on Wednesday, October 28th.

On average, analysts expect that QEP Resources will report full-year sales of $932.99 million for the current fiscal year, with estimates ranging from $754.00 million to $1.16 billion. For the next financial year, analysts anticipate that the firm will report sales of $839.63 million, with estimates ranging from $695.00 million to $1.01 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover QEP Resources.

QEP Resources (NYSE:QEP) last released its quarterly earnings data on Wednesday, July 29th. The pipeline company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The company had revenue of $120.60 million for the quarter, compared to analysts’ expectations of $213.73 million. QEP Resources had a return on equity of 0.68% and a net margin of 15.74%.

Several analysts have issued reports on the stock. Raymond James reaffirmed a “hold” rating on shares of QEP Resources in a report on Thursday, August 6th. Siebert Williams Shank reaffirmed a “hold” rating and issued a $1.50 price target on shares of QEP Resources in a report on Friday, July 24th. Scotiabank upped their price target on shares of QEP Resources to $1.00 and gave the company a “sector underperform” rating in a report on Monday, July 13th. Zacks Investment Research raised shares of QEP Resources from a “sell” rating to a “hold” rating and set a $1.75 price target on the stock in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised shares of QEP Resources from an “underweight” rating to a “neutral” rating in a report on Monday, July 20th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. QEP Resources currently has an average rating of “Hold” and a consensus price target of $2.33.

Hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. acquired a new position in QEP Resources during the second quarter worth approximately $25,000. XTX Markets LLC acquired a new position in QEP Resources during the second quarter worth approximately $26,000. Personal Capital Advisors Corp acquired a new position in QEP Resources during the second quarter worth approximately $27,000. Raymond James Financial Services Advisors Inc. acquired a new position in QEP Resources during the second quarter worth approximately $37,000. Finally, CAPROCK Group Inc. acquired a new position in QEP Resources during the second quarter worth approximately $43,000. 60.94% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE QEP traded down $0.04 on Tuesday, hitting $0.93. The company’s stock had a trading volume of 2,506,179 shares, compared to its average volume of 9,274,022. QEP Resources has a 12-month low of $0.26 and a 12-month high of $4.80. The company has a market capitalization of $224.98 million, a price-to-earnings ratio of 1.41 and a beta of 4.83. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a 50 day moving average of $1.20 and a 200-day moving average of $1.05.

About QEP Resources

QEP Resources, Inc operates as a crude oil and natural gas exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in Western Texas; and Williston Basin in North Dakota. As of December 31, 2018, it had estimated proved reserves of approximately 658.2 MMboe.

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

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