EQT Co. (EQT) Expected to Post Quarterly Sales of $1.24 Billion

Equities research analysts expect that EQT Co. (NYSE:EQT) will announce sales of $1.24 billion for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for EQT’s earnings, with estimates ranging from $1.22 billion to $1.27 billion. EQT reported sales of $1.43 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 13.3%. The company is expected to issue its next earnings results on Thursday, April 25th.

According to Zacks, analysts expect that EQT will report full-year sales of $4.17 billion for the current fiscal year, with estimates ranging from $4.09 billion to $4.27 billion. For the next year, analysts forecast that the firm will report sales of $4.19 billion, with estimates ranging from $4.12 billion to $4.27 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover EQT.

EQT (NYSE:EQT) last issued its quarterly earnings data on Thursday, February 14th. The oil and gas producer reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.02). EQT had a positive return on equity of 4.46% and a negative net margin of 45.88%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the company posted $0.76 EPS. The company’s revenue was up 20.5% on a year-over-year basis.

Several analysts have recently weighed in on the stock. TD Securities increased their price target on shares of EQT from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, February 20th. Morgan Stanley set a $10.00 price target on shares of EQT and gave the company a “sell” rating in a research report on Tuesday, January 29th. Jefferies Financial Group reissued a “hold” rating and issued a $21.00 price target on shares of EQT in a research report on Tuesday, January 29th. Credit Suisse Group restated a “buy” rating and issued a $24.00 price objective on shares of EQT in a report on Tuesday, January 22nd. Finally, Royal Bank of Canada lowered shares of EQT from an “outperform” rating to a “sector perform” rating in a report on Monday, January 7th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $38.43.

In related news, SVP David Joseph Smith bought 16,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The stock was purchased at an average price of $19.06 per share, for a total transaction of $320,208.00. Following the transaction, the senior vice president now directly owns 42,102 shares of the company’s stock, valued at approximately $802,464.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Joseph Mcnally acquired 12,660 shares of EQT stock in a transaction dated Friday, March 29th. The shares were acquired at an average price of $20.80 per share, with a total value of $263,328.00. Following the transaction, the chief executive officer now owns 193,072 shares in the company, valued at approximately $4,015,897.60. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 59,764 shares of company stock worth $1,181,220. Corporate insiders own 0.68% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of EQT. Prudential Financial Inc. raised its position in EQT by 78.2% during the third quarter. Prudential Financial Inc. now owns 573,178 shares of the oil and gas producer’s stock valued at $25,352,000 after acquiring an additional 251,597 shares in the last quarter. Yaupon Capital Management LP acquired a new stake in EQT during the fourth quarter worth $4,680,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in EQT by 14.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 304,700 shares of the oil and gas producer’s stock worth $13,477,000 after buying an additional 39,400 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of EQT by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 865,368 shares of the oil and gas producer’s stock valued at $38,278,000 after acquiring an additional 3,718 shares during the period. Finally, Texas Permanent School Fund lifted its holdings in shares of EQT by 180.9% during the fourth quarter. Texas Permanent School Fund now owns 166,493 shares of the oil and gas producer’s stock valued at $3,145,000 after acquiring an additional 107,228 shares during the period. 96.49% of the stock is owned by institutional investors and hedge funds.

EQT stock traded down $0.19 during mid-day trading on Monday, reaching $20.55. The company’s stock had a trading volume of 4,084,670 shares, compared to its average volume of 4,647,911. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 1.52 and a beta of 0.70. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. EQT has a fifty-two week low of $16.29 and a fifty-two week high of $31.28.

About EQT

EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.

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Earnings History and Estimates for EQT (NYSE:EQT)

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