Equities analysts predict that QEP Resources, Inc. (NYSE:QEP) will post sales of $380.77 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for QEP Resources’ earnings. The highest sales estimate is $404.00 million and the lowest is $368.00 million. QEP Resources posted sales of $399.70 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 4.7%. The firm is expected to issue its next earnings report on Wednesday, February 28th.
According to Zacks, analysts expect that QEP Resources will report full-year sales of $380.77 million for the current financial year, with estimates ranging from $1.53 billion to $1.63 billion. For the next year, analysts forecast that the firm will report sales of $1.69 billion per share, with estimates ranging from $1.63 billion to $1.78 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for QEP Resources.
QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.11. The company had revenue of $390.10 million for the quarter, compared to analyst estimates of $393.87 million. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.21) earnings per share.
QEP has been the topic of a number of research analyst reports. ValuEngine lowered shares of QEP Resources from a “sell” rating to a “strong sell” rating in a report on Friday, September 8th. Zacks Investment Research raised shares of QEP Resources from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Thursday, November 2nd. J P Morgan Chase & Co cut shares of QEP Resources from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $11.00 to $9.00 in a research note on Thursday, July 27th. BMO Capital Markets set a $11.00 price objective on shares of QEP Resources and gave the company a “buy” rating in a research note on Tuesday, November 14th. Finally, Stifel Nicolaus cut their price objective on shares of QEP Resources from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. QEP Resources presently has a consensus rating of “Hold” and an average target price of $14.19.
A number of large investors have recently modified their holdings of the business. California Public Employees Retirement System lifted its holdings in QEP Resources by 15.6% during the third quarter. California Public Employees Retirement System now owns 926,159 shares of the pipeline company’s stock valued at $7,937,000 after purchasing an additional 124,834 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in QEP Resources by 991.0% during the third quarter. Cubist Systematic Strategies LLC now owns 126,874 shares of the pipeline company’s stock valued at $1,087,000 after purchasing an additional 115,245 shares in the last quarter. Caxton Associates LP bought a new stake in shares of QEP Resources during the third quarter valued at approximately $330,000. Jane Street Group LLC bought a new stake in shares of QEP Resources during the third quarter valued at approximately $539,000. Finally, Cornerstone Capital Management Holdings LLC. raised its position in shares of QEP Resources by 32.4% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 110,642 shares of the pipeline company’s stock valued at $947,000 after buying an additional 27,072 shares during the last quarter. 88.41% of the stock is currently owned by institutional investors and hedge funds.
Shares of QEP Resources (QEP) opened at $8.80 on Monday. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 0.52. QEP Resources has a twelve month low of $7.02 and a twelve month high of $21.12.
About QEP Resources
QEP Resources, Inc is an independent crude oil and natural gas exploration and production company. The Company focuses on two regions of the United States: the Northern Region (primarily in North Dakota, Wyoming and Utah) and the Southern Region (primarily in Texas and Louisiana). The Company conducts exploration and production activities in North America’s hydrocarbon resource plays.
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