Zacks: Brokerages Anticipate EQT Co. (EQT) Will Post Earnings of $0.34 Per Share

Wall Street brokerages expect EQT Co. (NYSE:EQT) to post earnings per share (EPS) of $0.34 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for EQT’s earnings. The lowest EPS estimate is $0.07 and the highest is $0.57. EQT posted earnings of $0.12 per share in the same quarter last year, which would suggest a positive year over year growth rate of 183.3%. The company is expected to report its next earnings report before the market opens on Thursday, October 25th.

On average, analysts expect that EQT will report full-year earnings of $2.23 per share for the current year, with EPS estimates ranging from $1.76 to $2.59. For the next financial year, analysts forecast that the business will report earnings of $1.69 per share, with EPS estimates ranging from $0.64 to $2.55. Zacks’ earnings per share averages are a mean average based on a survey of analysts that cover EQT.

EQT (NYSE:EQT) last posted its quarterly earnings data on Thursday, July 26th. The oil and gas producer reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.07. EQT had a positive return on equity of 3.73% and a negative net margin of 6.19%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The business’s revenue was up 53.1% on a year-over-year basis.

EQT has been the topic of several research analyst reports. Jefferies Financial Group set a $52.00 price objective on EQT and gave the stock a “hold” rating in a research report on Tuesday, September 18th. Morgan Stanley cut their price objective on EQT from $59.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 16th. Royal Bank of Canada set a $71.00 price objective on EQT and gave the stock a “buy” rating in a research report on Thursday, September 20th. LADENBURG THALM/SH SH set a $70.00 price objective on EQT and gave the stock a “buy” rating in a research report on Friday, August 17th. Finally, TheStreet raised EQT from a “d+” rating to a “c-” rating in a research report on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $65.85.

In other news, Director Kenneth Michael Burke purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 9th. The shares were purchased at an average price of $50.20 per share, with a total value of $251,000.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $251,000. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.68% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of EQT. Cerebellum GP LLC raised its stake in shares of EQT by 71.4% during the 3rd quarter. Cerebellum GP LLC now owns 3,488 shares of the oil and gas producer’s stock valued at $154,000 after purchasing an additional 1,453 shares during the period. Piedmont Investment Advisors LLC bought a new stake in shares of EQT during the 2nd quarter valued at $163,000. Mount Yale Investment Advisors LLC bought a new stake in shares of EQT during the 1st quarter valued at $191,000. Hudson Valley Investment Advisors Inc. ADV bought a new stake in shares of EQT during the 2nd quarter valued at $207,000. Finally, Dupont Capital Management Corp raised its stake in shares of EQT by 48.7% during the 2nd quarter. Dupont Capital Management Corp now owns 3,876 shares of the oil and gas producer’s stock valued at $214,000 after purchasing an additional 1,270 shares during the period. 92.46% of the stock is currently owned by hedge funds and other institutional investors.

EQT stock traded down $0.20 during midday trading on Friday, hitting $47.36. The company’s stock had a trading volume of 2,142,194 shares, compared to its average volume of 3,109,233. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.47. EQT has a 1 year low of $43.53 and a 1 year high of $66.03. The stock has a market cap of $11.68 billion, a P/E ratio of 32.48, a P/E/G ratio of 1.33 and a beta of 0.61.

The company also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Friday, November 9th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, November 8th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.25%. EQT’s dividend payout ratio is presently 8.16%.

EQT Company Profile

EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.

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