EQT Co. (EQT) Expected to Announce Quarterly Sales of $1.11 Billion
Wall Street brokerages expect EQT Co. (NYSE:EQT) to report sales of $1.11 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for EQT’s earnings, with the highest sales estimate coming in at $1.19 billion and the lowest estimate coming in at $1.05 billion. EQT reported sales of $660.31 million during the same quarter last year, which indicates a positive year over year growth rate of 68.1%. The firm is scheduled to report its next quarterly 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 fiscal year, with estimates ranging from $4.67 billion to $5.04 billion. For the next financial year, analysts forecast that the business will post sales of $5.16 billion per share, with estimates ranging from $4.77 billion to $5.60 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for EQT.
EQT (NYSE:EQT) last announced its quarterly earnings results on Thursday, July 26th. The oil and gas producer reported $0.44 earnings per share for the quarter, topping the 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 firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the company earned $0.06 EPS. The company’s revenue was up 53.1% compared to the same quarter last year.
In related news, insider Robert Joseph Mcnally purchased 4,000 shares of the business’s stock in a transaction on Wednesday, June 6th. The shares were acquired at an average price of $51.18 per share, for a total transaction of $204,720.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.68% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Liberty Mutual Group Asset Management Inc. increased its stake in EQT by 45.9% during the 2nd quarter. Liberty Mutual Group Asset Management Inc. now owns 10,082 shares of the oil and gas producer’s stock valued at $556,000 after purchasing an additional 3,174 shares in the last quarter. Precocity Capital LP increased its stake in EQT by 11.1% during the 2nd quarter. Precocity Capital LP now owns 400,000 shares of the oil and gas producer’s stock valued at $22,072,000 after purchasing an additional 40,000 shares in the last quarter. Investec Asset Management LTD acquired a new position in EQT during the 2nd quarter valued at approximately $8,641,000. Great West Life Assurance Co. Can increased its stake in EQT by 3.0% during the 2nd quarter. Great West Life Assurance Co. Can now owns 177,618 shares of the oil and gas producer’s stock valued at $9,806,000 after purchasing an additional 5,103 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in EQT by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 861,650 shares of the oil and gas producer’s stock valued at $47,555,000 after purchasing an additional 3,077 shares in the last quarter. Institutional investors and hedge funds own 88.18% of the company’s stock.
Shares of NYSE EQT traded down $0.14 during trading hours on Tuesday, hitting $49.81. 5,260,455 shares of the stock were exchanged, compared to its average volume of 3,026,354. 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 firm has a market cap of $13.19 billion, a PE ratio of 33.88, a price-to-earnings-growth ratio of 1.52 and a beta of 0.57. EQT has a 12 month low of $43.70 and a 12 month high of $66.03.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Friday, August 10th will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, August 9th. This represents a $0.12 annualized dividend and a dividend yield of 0.24%. EQT’s dividend payout ratio (DPR) is presently 8.16%.
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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