QEP Resources Inc (NYSE:QEP) Expected to Post Quarterly Sales of $302.75 Million
Equities analysts expect that QEP Resources Inc (NYSE:QEP) will post sales of $302.75 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for QEP Resources’ earnings. The lowest sales estimate is $280.00 million and the highest is $325.00 million. QEP Resources reported sales of $532.40 million in the same quarter last year, which indicates a negative year-over-year growth rate of 43.1%. The business is scheduled to issue its next earnings results on Wednesday, July 24th.
According to Zacks, analysts expect that QEP Resources will report full year sales of $1.21 billion for the current financial year, with estimates ranging from $1.03 billion to $1.30 billion. For the next financial year, analysts anticipate that the business will post sales of $1.52 billion, with estimates ranging from $1.22 billion to $2.04 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover QEP Resources.
QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, April 24th. The pipeline company reported $0.15 EPS for the quarter, beating 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 company’s revenue was down 34.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.20) earnings per share.
A number of hedge funds have recently made changes to their positions in the business. United Services Automobile Association boosted its position in shares of QEP Resources by 4.0% in the 4th quarter. United Services Automobile Association now owns 45,063 shares of the pipeline company’s stock worth $254,000 after purchasing an additional 1,733 shares during the last quarter. TT International acquired a new stake in shares of QEP Resources in the first quarter valued at about $2,338,000. Shell Asset Management Co. acquired a new position in QEP Resources during the first quarter worth approximately $212,000. Two Sigma Advisers LP acquired a new position in QEP Resources during the fourth quarter worth approximately $1,493,000. Finally, California Public Employees Retirement System increased its position in 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 worth $3,875,000 after buying an additional 88,616 shares during the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.
NYSE QEP traded down $0.17 on Wednesday, reaching $5.15. The company had a trading volume of 7,655,739 shares, compared to its average volume of 5,279,686. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -30.29 and a beta of 1.94. QEP Resources has a fifty-two week low of $5.00 and a fifty-two week high of $12.33. The business has a 50 day moving average price of $6.60. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.79.
About QEP Resources
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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