Wall Street brokerages expect QEP Resources, Inc. (NYSE:QEP) to report earnings per share of ($0.06) for the current quarter, according to Zacks. Six analysts have made estimates for QEP Resources’ earnings. The highest EPS estimate is $0.06 and the lowest is ($0.15). QEP Resources posted earnings of ($0.15) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 60%. The business is expected to announce its next earnings report on Wednesday, February 28th.
On average, analysts expect that QEP Resources will report full year earnings of ($0.43) per share for the current fiscal year, with EPS estimates ranging from ($0.52) to ($0.30). For the next year, analysts expect that the firm will report earnings of ($0.20) per share, with EPS estimates ranging from ($1.09) to $0.52. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow QEP Resources.
QEP Resources (NYSE:QEP) last announced its earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.11. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The company had revenue of $390.10 million for the quarter, compared to analyst estimates of $393.87 million. During the same period in the prior year, the business earned ($0.21) earnings per share. QEP Resources’s quarterly revenue was up 2.0% on a year-over-year basis.
A number of equities analysts have recently issued reports on QEP shares. Piper Jaffray Companies reduced their target price on shares of QEP Resources from $20.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, September 18th. Stifel Nicolaus reduced their target price on shares of QEP Resources from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, September 26th. Barclays reduced their target price on shares of QEP Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 26th. KLR Group reiterated a “buy” rating and set a $14.00 target price (down from $15.00) on shares of QEP Resources in a research report on Wednesday, September 27th. Finally, ValuEngine upgraded shares of QEP Resources from a “strong sell” rating to a “sell” rating in a research report on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $12.75.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted its holdings in QEP Resources by 18.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 114,013 shares of the pipeline company’s stock valued at $1,152,000 after buying an additional 17,642 shares during the period. Voya Investment Management LLC increased its stake in QEP Resources by 8.5% in the second quarter. Voya Investment Management LLC now owns 1,391,614 shares of the pipeline company’s stock valued at $14,055,000 after purchasing an additional 109,002 shares in the last quarter. Engineers Gate Manager LP increased its stake in QEP Resources by 19.8% in the second quarter. Engineers Gate Manager LP now owns 174,847 shares of the pipeline company’s stock valued at $1,766,000 after purchasing an additional 28,930 shares in the last quarter. Rhumbline Advisers increased its stake in QEP Resources by 8.9% in the third quarter. Rhumbline Advisers now owns 460,608 shares of the pipeline company’s stock valued at $3,947,000 after purchasing an additional 37,825 shares in the last quarter. Finally, Oslo Asset Management AS bought a new stake in QEP Resources in the third quarter valued at approximately $10,041,000. Institutional investors and hedge funds own 93.14% of the company’s stock.
Shares of QEP Resources (NYSE:QEP) traded up $0.11 during mid-day trading on Tuesday, hitting $11.09. 4,868,526 shares of the stock were exchanged, compared to its average volume of 4,194,729. QEP Resources has a 12 month low of $7.02 and a 12 month high of $18.92. The firm has a market capitalization of $2,671.97, a price-to-earnings ratio of -184.80 and a beta of 1.73. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.55 and a quick ratio of 1.54.
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QEP Resources Company Profile
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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