$933.00 Million in Sales Expected for EQT Co. (EQT) This Quarter

Brokerages predict that EQT Co. (NYSE:EQT) will announce sales of $933.00 million for the current quarter, Zacks reports. Three analysts have issued estimates for EQT’s earnings, with the highest sales estimate coming in at $961.99 million and the lowest estimate coming in at $907.00 million. EQT posted sales of $1.05 billion in the same quarter last year, which would indicate a negative year over year growth rate of 11.1%. The business is expected to report its next quarterly earnings results on Thursday, July 25th.

On average, analysts expect that EQT will report full year sales of $4.12 billion for the current fiscal year, with estimates ranging from $3.94 billion to $4.22 billion. For the next fiscal year, analysts forecast that the firm will report sales of $4.32 billion, with estimates ranging from $4.04 billion to $4.65 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for EQT.

EQT (NYSE:EQT) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.11. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.17 billion. EQT had a negative net margin of 10.17% and a positive return on equity of 4.51%. The business’s quarterly revenue was down 12.9% on a year-over-year basis. During the same quarter last year, the company posted $0.67 earnings per share.

EQT has been the subject of several recent research reports. Credit Suisse Group reissued a “buy” rating and set a $24.00 target price on shares of EQT in a report on Tuesday, January 22nd. Morgan Stanley set a $10.00 target price on shares of EQT and gave the stock a “sell” rating in a report on Tuesday, January 29th. TD Securities raised their target price on shares of EQT from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, February 20th. Jefferies Financial Group reissued a “hold” rating and set a $21.00 target price on shares of EQT in a report on Tuesday, January 29th. Finally, Cowen initiated coverage on shares of EQT in a report on Tuesday, April 9th. They set a “market perform” rating and a $24.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $37.33.

In other news, SVP David Joseph Smith acquired 16,800 shares of the business’s stock in a transaction on Tuesday, February 19th. The stock was bought at an average price of $19.06 per share, with a total value of $320,208.00. Following the completion of the acquisition, the senior vice president now owns 42,102 shares of the company’s stock, valued at $802,464.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Jonathan M. Lushko acquired 7,903 shares of the business’s stock in a transaction on Tuesday, February 19th. The stock was purchased at an average cost of $19.04 per share, with a total value of $150,473.12. The disclosure for this purchase can be found here. Insiders acquired 59,459 shares of company stock valued at $1,177,466 in the last ninety days. 0.68% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in EQT in the first quarter valued at $29,000. Rockefeller Capital Management L.P. acquired a new stake in shares of EQT in the first quarter valued at about $33,000. Cresset Asset Management LLC acquired a new stake in shares of EQT in the first quarter valued at about $36,000. Clean Yield Group acquired a new stake in shares of EQT in the fourth quarter valued at about $34,000. Finally, Financial Architects Inc grew its position in shares of EQT by 55.1% in the fourth quarter. Financial Architects Inc now owns 2,131 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 757 shares during the period. 96.49% of the stock is owned by institutional investors.

Shares of NYSE EQT traded up $0.48 during midday trading on Friday, reaching $21.54. The company had a trading volume of 2,315,121 shares, compared to its average volume of 4,265,628. The stock has a market cap of $5.33 billion, a P/E ratio of 12.67, a P/E/G ratio of 1.46 and a beta of 0.70. EQT has a 1 year low of $16.29 and a 1 year high of $31.28. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.39.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a $0.03 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.56%. EQT’s payout ratio is 7.06%.

About EQT

EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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