QEP Resources (QEP) Issues Earnings Results, Beats Estimates By $0.17 EPS
QEP Resources (NYSE:QEP) announced its earnings results on Wednesday. The pipeline company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.17, Bloomberg Earnings reports. QEP Resources had a negative net margin of 52.34% and a negative return on equity of 0.73%. The firm had revenue of $280.60 million during the quarter, compared to analyst estimates of $289.23 million. During the same period in the prior year, the business earned ($0.20) EPS. The company’s revenue for the quarter was down 34.6% compared to the same quarter last year.
Shares of QEP Resources stock traded down $0.49 during trading hours on Thursday, reaching $7.56. 4,834,174 shares of the company’s stock were exchanged, compared to its average volume of 5,542,952. QEP Resources has a fifty-two week low of $5.00 and a fifty-two week 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 cap of $1.96 billion, a price-to-earnings ratio of -44.47 and a beta of 2.14.
QEP has been the subject of a number of recent research reports. Wells Fargo & Co restated a “hold” rating on shares of QEP Resources in a research note on Friday, April 12th. Raymond James set a $12.00 price objective on shares of QEP Resources and gave the stock a “buy” rating in a research note on Wednesday, January 23rd. ValuEngine upgraded shares of QEP Resources from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Zacks Investment Research upgraded shares of 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. Finally, SunTrust Banks set a $8.00 price objective on shares of QEP Resources and gave the stock a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $11.75.
ILLEGAL ACTIVITY NOTICE: This report was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another website, it was stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this report can be accessed at https://www.thecerbatgem.com/2019/04/25/qep-resources-qep-issues-earnings-results-beats-estimates-by-0-17-eps.html.
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.
Read More: Understanding Market Liquidity
Receive News & Ratings for QEP Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QEP Resources and related companies with MarketBeat.com's FREE daily email newsletter.