Zacks: Brokerages Anticipate QEP Resources Inc (NYSE:QEP) to Announce $0.05 EPS

Equities analysts expect QEP Resources Inc (NYSE:QEP) to report earnings per share of $0.05 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for QEP Resources’ earnings. The highest EPS estimate is $0.14 and the lowest is ($0.05). QEP Resources posted earnings of $0.06 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 16.7%. The business is scheduled to report its next quarterly earnings report on Wednesday, July 24th.

On average, analysts expect that QEP Resources will report full-year earnings of $0.44 per share for the current financial year, with EPS estimates ranging from $0.10 to $0.83. For the next year, analysts anticipate that the business 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 a mean average based on a survey of research analysts that cover QEP Resources.

QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, April 24th. The pipeline company reported $0.15 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.17. The business 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 firm’s revenue for the quarter was down 34.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.20) earnings per share.

A number of research firms have issued reports on QEP. JPMorgan Chase & Co. boosted 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. Oppenheimer boosted their price objective on shares of Valeritas from $1.25 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Wells Fargo & Co restated a “buy” rating on shares of SM Energy in a research report on Friday, April 12th. CIBC decreased their price objective on shares of Crew Energy from C$1.50 to C$1.00 in a research report on Tuesday, July 9th. Finally, ValuEngine cut shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company’s stock. QEP Resources presently has an average rating of “Hold” and an average target price of $10.73.

Several hedge funds and other institutional investors have recently made changes to their positions in QEP. California Public Employees Retirement System increased its position in shares of QEP Resources by 14.8% during the fourth quarter. California Public Employees Retirement System now owns 688,245 shares of the pipeline company’s stock valued at $3,875,000 after buying an additional 88,616 shares during the period. BlackRock Inc. increased its position in shares of QEP Resources by 3.5% during the fourth quarter. BlackRock Inc. now owns 21,413,968 shares of the pipeline company’s stock valued at $120,561,000 after buying an additional 727,179 shares during the period. Texas Permanent School Fund increased its position in shares of QEP Resources by 3.9% during the fourth quarter. Texas Permanent School Fund now owns 154,940 shares of the pipeline company’s stock valued at $872,000 after buying an additional 5,834 shares during the period. Northern Trust Corp increased its position in shares of QEP Resources by 0.3% during the fourth quarter. Northern Trust Corp now owns 2,024,377 shares of the pipeline company’s stock valued at $11,396,000 after buying an additional 6,235 shares during the period. Finally, Commonwealth Bank of Australia boosted its stake in QEP Resources by 7.4% during the fourth quarter. Commonwealth Bank of Australia now owns 52,400 shares of the pipeline company’s stock worth $295,000 after acquiring an additional 3,600 shares in the last quarter. Institutional investors own 99.22% of the company’s stock.

Shares of QEP stock traded down $0.17 during mid-day trading on Monday, reaching $5.15. The stock had a trading volume of 7,655,739 shares, compared to its average volume of 5,279,686. The company has a 50-day moving average price of $6.60. QEP Resources has a 52-week low of $5.00 and a 52-week high of $12.33. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -30.29 and a beta of 1.94. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.79.

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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