Equities research analysts expect that EQT Co. (NYSE:EQT) will report sales of $1.12 billion for the current quarter, Zacks reports. Three analysts have provided estimates for EQT’s earnings, with estimates ranging from $1.05 billion to $1.19 billion. EQT reported sales of $660.31 million in the same quarter last year, which indicates a positive year over year growth rate of 69.6%. The business is expected to announce its next earnings results before the market opens on Thursday, October 25th.
On average, analysts expect that EQT will report full year sales of $4.82 billion for the current year, with estimates ranging from $4.67 billion to $5.04 billion. For the next financial year, analysts forecast that the firm will report sales of $5.14 billion, with estimates ranging from $4.68 billion to $5.60 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover EQT.
EQT (NYSE:EQT) last announced its earnings results on Thursday, July 26th. The oil and gas producer reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the firm earned $0.06 earnings per share. EQT’s quarterly revenue was up 53.1% on a year-over-year basis.
A number of brokerages recently weighed in on EQT. Morgan Stanley set a $48.00 target price on shares of EQT and gave the stock a “hold” rating in a research note on Friday, October 12th. Royal Bank of Canada set a $71.00 price target on shares of EQT and gave the company a “buy” rating in a research note on Thursday, September 20th. Jefferies Financial Group set a $52.00 price target on shares of EQT and gave the company a “hold” rating in a research note on Tuesday, September 18th. Goldman Sachs Group assumed coverage on shares of EQT in a research note on Monday, September 17th. They issued a “neutral” rating and a $54.00 price target for the company. Finally, LADENBURG THALM/SH SH set a $70.00 price target on shares of EQT and gave the company a “buy” rating in a research note on Friday, August 17th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. EQT currently has a consensus rating of “Hold” and a consensus price target of $64.67.
NYSE EQT traded down $0.30 during mid-day trading on Friday, reaching $46.38. 1,911,900 shares of the stock were exchanged, compared to its average volume of 3,096,995. EQT has a one year low of $43.53 and a one year high of $66.03. The company has a market capitalization of $12.50 billion, a PE ratio of 31.63, a P/E/G ratio of 1.41 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.47.
The business also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Friday, November 9th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, November 8th. EQT’s dividend payout ratio (DPR) is currently 8.16%.
In related news, Director Kenneth Michael Burke purchased 5,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was purchased at an average cost of $50.20 per share, with a total value of $251,000.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at approximately $251,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.68% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of EQT by 1.0% during the second quarter. BlackRock Inc. now owns 17,965,325 shares of the oil and gas producer’s stock valued at $991,326,000 after buying an additional 175,492 shares during the last quarter. Boston Partners grew its holdings in shares of EQT by 6.8% during the second quarter. Boston Partners now owns 12,929,303 shares of the oil and gas producer’s stock valued at $713,439,000 after buying an additional 825,730 shares during the last quarter. Canyon Capital Advisors LLC grew its holdings in shares of EQT by 6.7% during the second quarter. Canyon Capital Advisors LLC now owns 5,367,710 shares of the oil and gas producer’s stock valued at $296,190,000 after buying an additional 336,710 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of EQT by 4.8% during the second quarter. American Century Companies Inc. now owns 4,929,474 shares of the oil and gas producer’s stock valued at $272,008,000 after buying an additional 224,579 shares during the last quarter. Finally, Iridian Asset Management LLC CT acquired a new position in shares of EQT during the second quarter valued at about $195,704,000. Hedge funds and other institutional investors own 92.33% of the company’s stock.
EQT Company Profile
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.
Further Reading: Book Value Per Share – BVPS
Get a free copy of the Zacks research report on EQT (EQT)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for EQT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT and related companies with MarketBeat.com's FREE daily email newsletter.