Zacks: Analysts Expect QEP Resources Inc (NYSE:QEP) to Post $0.05 Earnings Per Share

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Wall Street brokerages expect QEP Resources Inc (NYSE:QEP) to report $0.05 earnings per share (EPS) for the current quarter, Zacks reports. Six analysts have made estimates for QEP Resources’ earnings. The lowest EPS estimate is ($0.05) and the highest is $0.14. QEP Resources reported earnings of $0.06 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 16.7%. The firm is scheduled to announce its next earnings results on Wednesday, July 24th.

According to Zacks, analysts expect that QEP Resources will report full year earnings of $0.44 per share for the current year, with EPS estimates ranging from $0.10 to $0.83. For the next year, analysts anticipate that the firm will report earnings of $1.03 per share, with EPS estimates ranging from $0.25 to $2.84. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover QEP Resources.

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

Several analysts have issued reports on QEP shares. JPMorgan Chase & Co. increased their price objective on shares of Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the company a “neutral” rating in a research report on Friday, June 7th. CIBC lowered their price objective on shares of Crew Energy from C$1.50 to C$1.00 in a research report on Tuesday, July 9th. ValuEngine downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Co reaffirmed a “buy” rating on shares of SM Energy in a research report on Friday, April 12th. Finally, Zacks Investment Research downgraded shares of Horiba from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $11.09.

QEP traded down $0.99 on Monday, reaching $5.32. 19,852,193 shares of the company’s stock were exchanged, compared to its average volume of 6,192,478. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.79. QEP Resources has a twelve month low of $5.00 and a twelve month high of $12.53. The company’s 50 day simple moving average is $6.60. The company has a market capitalization of $1.50 billion, a P/E ratio of -31.29 and a beta of 1.93.

Several institutional investors have recently added to or reduced their stakes in QEP. Norges Bank purchased a new position in shares of QEP Resources during the 4th quarter valued at approximately $19,230,000. Alpine Associates Management Inc. purchased a new position in shares of QEP Resources during the 1st quarter valued at approximately $18,806,000. Two Sigma Investments LP purchased a new position in shares of QEP Resources during the 4th quarter valued at approximately $7,400,000. Oslo Asset Management AS boosted its stake in shares of QEP Resources by 13.6% during the 1st quarter. Oslo Asset Management AS now owns 6,993,278 shares of the pipeline company’s stock valued at $54,478,000 after buying an additional 835,888 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of QEP Resources by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 18,055,887 shares of the pipeline company’s stock valued at $101,655,000 after buying an additional 803,139 shares during the last quarter. Institutional investors own 99.22% of the company’s stock.

QEP Resources Company Profile

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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