Analysts expect that Qep Resources (NYSE:QEP) will post ($0.24) earnings per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Qep Resources’ earnings, with the highest EPS estimate coming in at ($0.09) and the lowest estimate coming in at ($0.63). Qep Resources reported earnings per share of ($0.12) during the same quarter last year, which would suggest a negative year-over-year growth rate of 100%. The firm is scheduled to report its next quarterly earnings results on Wednesday, July 25th.
On average, analysts expect that Qep Resources will report full-year earnings of ($0.82) per share for the current fiscal year, with EPS estimates ranging from ($2.17) to ($0.38). For the next financial year, analysts expect that the company will post earnings of ($0.40) per share, with EPS estimates ranging from ($1.68) to $0.01. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Qep Resources.
Qep Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, April 25th. The pipeline company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.01). The company had revenue of $428.90 million during the quarter, compared to analysts’ expectations of $369.94 million. Qep Resources had a net margin of 16.59% and a return on equity of 5.06%. Qep Resources’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.14) earnings per share.
QEP has been the subject of several recent research reports. Zacks Investment Research upgraded Qep Resources from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Friday, January 12th. Mizuho set a $15.00 price target on Qep Resources and gave the company a “buy” rating in a research report on Tuesday, January 16th. ValuEngine lowered Qep Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Williams Capital set a $18.00 price objective on Qep Resources and gave the company a “buy” rating in a research note on Thursday, March 1st. Finally, Piper Jaffray reissued a “buy” rating and set a $14.00 price objective on shares of Qep Resources in a research note on Tuesday, January 9th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $12.55.
In related news, Director David A. Trice bought 10,000 shares of the stock in a transaction dated Thursday, March 8th. The stock was bought at an average price of $9.00 per share, with a total value of $90,000.00. Following the purchase, the director now owns 50,000 shares in the company, valued at approximately $450,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS bought a new stake in shares of Qep Resources in the 4th quarter valued at about $100,000. Savant Capital LLC purchased a new position in Qep Resources during the 4th quarter valued at about $108,000. Macquarie Group Ltd. increased its holdings in Qep Resources by 17,375.0% during the 4th quarter. Macquarie Group Ltd. now owns 13,980 shares of the pipeline company’s stock valued at $9,481,000 after purchasing an additional 13,900 shares during the period. Tocqueville Asset Management L.P. purchased a new position in Qep Resources during the 4th quarter valued at about $141,000. Finally, MANA Advisors LLC purchased a new position in Qep Resources during the 4th quarter valued at about $163,000. 93.88% of the stock is owned by institutional investors.
Shares of NYSE QEP traded down $0.39 during mid-day trading on Friday, hitting $12.01. The company had a trading volume of 3,135,801 shares, compared to its average volume of 6,510,179. The stock has a market cap of $2,942.23, a PE ratio of 15.70 and a beta of 1.53. Qep Resources has a 1 year low of $7.02 and a 1 year high of $12.90. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.28 and a current ratio of 0.29.
Qep Resources announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 28th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the pipeline company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
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Qep Resources Company Profile
QEP Resources, Inc, through its subsidiaries, operates as a natural gas and crude oil exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in western Texas, Williston Basin in North Dakota, Haynesville/Cotton Valley in northwestern Louisiana, Uinta Basin in eastern Utah, and other proven properties in Wyoming, Utah, and Colorado.
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