Zacks: Brokerages Expect EQT Co. (EQT) Will Announce Quarterly Sales of $1.11 Billion

Brokerages expect that EQT Co. (NYSE:EQT) will announce $1.11 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for EQT’s earnings. The highest sales estimate is $1.19 billion and the lowest is $1.05 billion. EQT posted sales of $660.31 million in the same quarter last year, which would indicate a positive year over year growth rate of 68.1%. The firm is scheduled to report its next earnings report on Thursday, October 25th.

According to Zacks, analysts expect that EQT will report full year sales of $4.82 billion for the current financial year, with estimates ranging from $4.67 billion to $5.04 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $5.16 billion per share, with estimates ranging from $4.77 billion to $5.60 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for EQT.

EQT (NYSE:EQT) last released its quarterly earnings results on Thursday, July 26th. The oil and gas producer reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.07. EQT had a negative net margin of 6.19% and a positive return on equity of 3.73%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm earned $0.06 earnings per share. EQT’s revenue was up 53.1% on a year-over-year basis.

A number of equities analysts have weighed in on the stock. ValuEngine raised shares of EQT from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. TheStreet upgraded shares of EQT from a “d+” rating to a “c-” rating in a report on Monday, July 23rd. Royal Bank of Canada set a $74.00 price target on shares of EQT and gave the company a “buy” rating in a report on Thursday, July 19th. JPMorgan Chase & Co. set a $70.00 price target on shares of EQT and gave the company a “buy” rating in a report on Wednesday, June 13th. Finally, Morgan Stanley cut their price target on shares of EQT from $64.00 to $62.00 and set an “equal weight” rating on the stock in a report on Thursday, July 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. EQT presently has an average rating of “Hold” and a consensus target price of $70.15.

In other EQT news, insider Robert Joseph Mcnally purchased 4,000 shares of the firm’s stock in a transaction on Wednesday, June 6th. The shares were acquired at an average cost of $51.18 per share, for a total transaction of $204,720.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.68% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. RFG Advisory Group LLC purchased a new position in shares of EQT in the 2nd quarter worth $331,000. Commerzbank Aktiengesellschaft FI grew its stake in shares of EQT by 30.2% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 15,410 shares of the oil and gas producer’s stock worth $732,000 after buying an additional 3,574 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of EQT by 13.6% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 11,107 shares of the oil and gas producer’s stock worth $632,000 after buying an additional 1,331 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of EQT during the 1st quarter worth about $3,340,000. Finally, Knights of Columbus Asset Advisors LLC boosted its stake in shares of EQT by 61.6% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 22,431 shares of the oil and gas producer’s stock worth $1,066,000 after purchasing an additional 8,550 shares during the period. Institutional investors and hedge funds own 88.18% of the company’s stock.

Shares of NYSE EQT traded down $0.14 on Tuesday, reaching $49.81. 5,260,455 shares of the company’s stock traded hands, compared to its average volume of 3,026,354. EQT has a 12 month low of $43.70 and a 12 month high of $66.03. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of 33.88, a P/E/G ratio of 1.52 and a beta of 0.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.76 and a current ratio of 0.76.

The business also recently announced a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Friday, August 10th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.24%. The ex-dividend date is Thursday, August 9th. EQT’s dividend payout ratio is currently 8.16%.

About EQT

EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.

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