Wall Street analysts predict that QEP Resources Inc (NYSE:QEP) will announce earnings per share (EPS) of ($0.01) for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for QEP Resources’ earnings, with the lowest EPS estimate coming in at ($0.11) and the highest estimate coming in at $0.15. QEP Resources reported earnings of ($0.10) per share during the same quarter last year, which suggests a positive year over year growth rate of 90%. The business is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, November 7th.
On average, analysts expect that QEP Resources will report full year earnings of ($0.20) per share for the current year, with EPS estimates ranging from ($0.30) to ($0.08). For the next financial year, analysts expect that the firm will post earnings of $0.53 per share, with EPS estimates ranging from $0.10 to $1.29. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover QEP Resources.
QEP has been the subject of a number of analyst reports. Williams Capital restated a “buy” rating and set a $18.00 price objective on shares of QEP Resources in a research note on Monday, July 23rd. Tudor Pickering cut QEP Resources from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Credit Suisse Group decreased their price objective on QEP Resources from $12.00 to $11.00 and set an “underperform” rating for the company in a research note on Thursday, July 26th. Johnson Rice cut QEP Resources from a “buy” rating to an “accumulate” rating in a research note on Thursday, July 26th. Finally, ValuEngine cut QEP Resources from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. QEP Resources currently has a consensus rating of “Hold” and an average price target of $13.25.
Institutional investors have recently added to or reduced their stakes in the business. CastleArk Alternatives LLC purchased a new stake in QEP Resources in the second quarter valued at about $113,000. Cubist Systematic Strategies LLC raised its stake in QEP Resources by 80.4% in the second quarter. Cubist Systematic Strategies LLC now owns 13,142 shares of the pipeline company’s stock valued at $161,000 after buying an additional 5,858 shares during the last quarter. Iberiabank Corp purchased a new stake in QEP Resources in the third quarter valued at about $182,000. Whittier Trust Co. of Nevada Inc. raised its stake in QEP Resources by 390.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 16,200 shares of the pipeline company’s stock valued at $559,000 after buying an additional 12,900 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in QEP Resources in the second quarter valued at about $225,000. Institutional investors own 98.99% of the company’s stock.
Shares of NYSE QEP opened at $9.43 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market cap of $2.18 billion, a P/E ratio of 12.25 and a beta of 1.35. QEP Resources has a 1-year low of $7.04 and a 1-year high of $13.77.
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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