Wall Street brokerages forecast that QEP Resources Inc (NYSE:QEP) will post $306.96 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for QEP Resources’ earnings. The lowest sales estimate is $276.00 million and the highest is $416.60 million. QEP Resources posted sales of $428.90 million during the same quarter last year, which suggests a negative year over year growth rate of 28.4%. The firm is scheduled to issue its next earnings results after the market closes on Wednesday, April 24th.

According to Zacks, analysts expect that QEP Resources will report full-year sales of $1.24 billion for the current year, with estimates ranging from $1.11 billion to $1.40 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.44 billion, with estimates ranging from $1.22 billion to $1.82 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for QEP Resources.

QEP Resources (NYSE:QEP) last released its quarterly earnings data on Wednesday, February 20th. The pipeline company reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.15). QEP Resources had a negative net margin of 52.34% and a negative return on equity of 0.73%. The firm had revenue of $410.50 million during the quarter, compared to analyst estimates of $434.58 million. During the same period in the prior year, the company earned $1.13 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year.

Several research firms have recently issued reports on QEP. Zacks Investment Research raised QEP Resources from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research note on Thursday, January 17th. Wells Fargo & Co reaffirmed a “hold” rating on shares of QEP Resources in a research note on Friday. ValuEngine downgraded QEP Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, February 27th. Capital One Financial downgraded QEP Resources from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 20th. Finally, Raymond James set a $12.00 price objective on QEP Resources and gave the company a “buy” rating in a research note on Wednesday, January 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $12.62.

Hedge funds have recently made changes to their positions in the company. Bremer Trust National Association acquired a new stake in shares of QEP Resources during the 4th quarter worth approximately $28,000. Quantamental Technologies LLC acquired a new stake in shares of QEP Resources during the 4th quarter worth approximately $43,000. Tower Research Capital LLC TRC grew its position in shares of QEP Resources by 298.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,550 shares of the pipeline company’s stock worth $119,000 after buying an additional 7,899 shares during the period. Weiss Multi Strategy Advisers LLC acquired a new stake in shares of QEP Resources during the 4th quarter worth approximately $67,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of QEP Resources during the 4th quarter worth approximately $86,000. 99.22% of the stock is owned by institutional investors.

QEP Resources stock opened at $8.06 on Tuesday. QEP Resources has a 1 year low of $5.00 and a 1 year high of $13.77. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $1.95 billion, a PE ratio of -47.41 and a beta of 2.14.

QEP Resources Company Profile

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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Earnings History and Estimates for QEP Resources (NYSE:QEP)

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