QEP Resources Inc (QEP) Expected to Post Quarterly Sales of $487.21 Million

Equities analysts expect QEP Resources Inc (NYSE:QEP) to announce sales of $487.21 million for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for QEP Resources’ earnings, with the lowest sales estimate coming in at $439.50 million and the highest estimate coming in at $550.00 million. QEP Resources reported sales of $429.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13.6%. The business is expected to report its next earnings report on Wednesday, February 27th.

According to Zacks, analysts expect that QEP Resources will report full-year sales of $1.95 billion for the current fiscal year, with estimates ranging from $1.80 billion to $2.04 billion. For the next fiscal year, analysts expect that the company will post sales of $1.09 billion, with estimates ranging from $865.00 million to $1.21 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover QEP Resources.

QEP Resources (NYSE:QEP) last released its quarterly earnings data on Wednesday, November 7th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.18. The business had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $497.45 million. QEP Resources had a positive return on equity of 7.86% and a negative net margin of 11.89%. QEP Resources’s quarterly revenue was up 43.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) earnings per share.

A number of analysts have recently issued reports on QEP shares. Williams Capital set a $15.00 price objective on QEP Resources and gave the company a “buy” rating in a research report on Monday, November 19th. Tudor Pickering upgraded QEP Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, November 7th. Oppenheimer reiterated a “buy” rating on shares of QEP Resources in a research report on Wednesday, November 7th. KLR Group reiterated a “buy” rating and issued a $14.00 price target on shares of QEP Resources in a research report on Monday, August 20th. Finally, Zacks Investment Research upgraded QEP Resources from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Thursday, November 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $13.63.

Shares of QEP traded down $0.47 on Thursday, reaching $8.03. 8,503,044 shares of the stock traded hands, compared to its average volume of 5,700,622. The stock has a market cap of $1.90 billion, a PE ratio of 10.43, a P/E/G ratio of 7.44 and a beta of 1.35. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.73. QEP Resources has a 12 month low of $7.04 and a 12 month high of $13.77.

Large investors have recently made changes to their positions in the business. CastleArk Alternatives LLC bought a new stake in QEP Resources in the second quarter valued at $113,000. Tower Research Capital LLC TRC grew its holdings in shares of QEP Resources by 298.0% during the third quarter. Tower Research Capital LLC TRC now owns 10,550 shares of the pipeline company’s stock worth $119,000 after purchasing an additional 7,899 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings 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 worth $161,000 after purchasing an additional 5,858 shares during the last quarter. Kentucky Retirement Systems bought a new stake in shares of QEP Resources during the third quarter worth $454,000. Finally, Iberiabank Corp bought a new stake in shares of QEP Resources during the third quarter worth $182,000.

QEP Resources Company Profile

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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