Zacks: Brokerages Anticipate QEP Resources Inc (NYSE:QEP) to Post $0.09 EPS

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Brokerages expect that QEP Resources Inc (NYSE:QEP) will announce earnings of $0.09 per share for the current quarter, Zacks reports. Six analysts have made estimates for QEP Resources’ earnings, with the lowest EPS estimate coming in at $0.06 and the highest estimate coming in at $0.13. QEP Resources posted earnings of ($0.13) per share in the same quarter last year, which suggests a positive year over year growth rate of 169.2%. The business is scheduled to report its next quarterly earnings results on Wednesday, February 19th.

According to Zacks, analysts expect that QEP Resources will report full-year earnings of $0.25 per share for the current fiscal year, with EPS estimates ranging from $0.22 to $0.30. For the next fiscal year, analysts forecast that the business will report earnings of $0.58 per share, with EPS estimates ranging from $0.43 to $0.75. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover QEP Resources.

QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, October 23rd. The pipeline company reported $0.05 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.05. QEP Resources had a positive return on equity of 0.30% and a negative net margin of 47.59%. The company had revenue of $307.50 million for the quarter, compared to analysts’ expectations of $295.03 million. During the same period last year, the firm earned $0.17 earnings per share. QEP Resources’s quarterly revenue was down 45.2% on a year-over-year basis.

A number of analysts have recently commented on QEP shares. Piper Jaffray Companies upgraded QEP Resources from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $3.50 to $6.00 in a research report on Monday, October 28th. Williams Capital upgraded QEP Resources from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research report on Thursday, October 24th. ValuEngine upgraded QEP Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Raymond James cut QEP Resources from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, August 8th. Finally, BMO Capital Markets started coverage on QEP Resources in a research report on Tuesday, September 10th. They set a “market perform” rating and a $5.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $8.00.

In related news, CFO Richard J. Doleshek purchased 25,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average price of $3.50 per share, with a total value of $87,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 533,723 shares in the company, valued at approximately $1,868,030.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David A. Trice purchased 15,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were bought at an average cost of $3.50 per share, for a total transaction of $52,500.00. Following the acquisition, the director now owns 85,000 shares of the company’s stock, valued at $297,500. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 120,000 shares of company stock worth $453,000. Corporate insiders own 1.71% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. CAPROCK Group Inc. purchased a new stake in QEP Resources in the 2nd quarter valued at approximately $72,000. Bluefin Trading LLC acquired a new stake in shares of QEP Resources during the 2nd quarter valued at approximately $92,000. Cutler Group LP lifted its position in shares of QEP Resources by 159.1% during the 3rd quarter. Cutler Group LP now owns 13,900 shares of the pipeline company’s stock valued at $51,000 after acquiring an additional 37,419 shares during the period. Teza Capital Management LLC acquired a new stake in shares of QEP Resources during the 2nd quarter valued at approximately $108,000. Finally, Tiedemann Advisors LLC acquired a new stake in shares of QEP Resources during the 2nd quarter valued at approximately $108,000. 99.39% of the stock is currently owned by institutional investors.

Shares of QEP traded up $0.08 during midday trading on Tuesday, reaching $3.71. 6,087,436 shares of the stock were exchanged, compared to its average volume of 6,011,726. The business’s 50-day moving average price is $3.44 and its 200 day moving average price is $5.26. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.04 and a quick ratio of 1.04. QEP Resources has a twelve month low of $2.58 and a twelve month high of $9.31. The company has a market capitalization of $842.97 million, a price-to-earnings ratio of -21.82 and a beta of 1.98.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, November 14th. QEP Resources’s dividend payout ratio is currently -47.06%.

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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