Analysts Expect QEP Resources Inc (QEP) Will Post Quarterly Sales of $307.29 Million

Equities analysts predict that QEP Resources Inc (NYSE:QEP) will announce $307.29 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for QEP Resources’ earnings, with the lowest sales estimate coming in at $280.00 million and the highest estimate coming in at $325.00 million. QEP Resources reported sales of $532.40 million during the same quarter last year, which suggests a negative year over year growth rate of 42.3%. The business is scheduled to announce its next earnings report on Wednesday, July 24th.

On average, analysts expect that QEP Resources will report full year sales of $1.22 billion for the current financial year, with estimates ranging from $1.03 billion to $1.30 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.50 billion, with estimates ranging from $1.22 billion to $2.04 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover QEP Resources.

QEP Resources (NYSE:QEP) last issued its quarterly earnings data on Wednesday, April 24th. The pipeline company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.17. The firm had revenue of $280.60 million for the quarter, compared to analyst estimates of $289.23 million. QEP Resources had a positive return on equity of 1.91% and a negative net margin of 60.23%. The business’s quarterly revenue was down 34.6% compared to the same quarter last year. During the same period last year, the company earned ($0.20) EPS.

A number of brokerages have recently weighed in on QEP. SunTrust Banks set a $8.00 price objective on QEP Resources and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Wells Fargo & Co restated a “hold” rating on shares of QEP Resources in a research note on Friday, April 12th. ValuEngine cut QEP Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, February 27th. Finally, Zacks Investment Research cut QEP Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $11.75.

A number of large investors have recently made changes to their positions in QEP. Bremer Trust National Association bought a new stake in shares of QEP Resources in the fourth quarter worth $28,000. Quantamental Technologies LLC bought a new stake in shares of QEP Resources in the fourth quarter worth $43,000. Royal London Asset Management Ltd. bought a new stake in shares of QEP Resources in the first quarter worth $49,000. Quadrant Capital Group LLC grew its holdings in shares of QEP Resources by 2,702.9% in the first quarter. Quadrant Capital Group LLC now owns 6,755 shares of the pipeline company’s stock worth $50,000 after acquiring an additional 6,514 shares during the period. Finally, Weiss Multi Strategy Advisers LLC bought a new stake in shares of QEP Resources in the fourth quarter worth $67,000. Institutional investors and hedge funds own 99.22% of the company’s stock.

Shares of QEP stock traded up $0.20 during trading hours on Friday, reaching $6.68. The company’s stock had a trading volume of 4,338,100 shares, compared to its average volume of 5,011,784. The firm has a market cap of $1.66 billion, a P/E ratio of -39.29 and a beta of 2.00. QEP Resources has a one year low of $5.00 and a one year high of $13.77. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.59 and a current ratio of 0.59.

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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