EQT Co. (NYSE:EQT) Expected to Post Earnings of -$0.07 Per Share

Brokerages forecast that EQT Co. (NYSE:EQT) will report earnings per share of ($0.07) for the current fiscal quarter, according to Zacks Investment Research. Sixteen analysts have issued estimates for EQT’s earnings. The highest EPS estimate is $0.08 and the lowest is ($0.25). EQT posted earnings per share of ($0.15) during the same quarter last year, which suggests a positive year over year growth rate of 53.3%. The business is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, October 27th.

According to Zacks, analysts expect that EQT will report full year earnings of $0.65 per share for the current year, with EPS estimates ranging from $0.22 to $1.16. For the next fiscal year, analysts forecast that the company will report earnings of $1.76 per share, with EPS estimates ranging from $0.81 to $2.63. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow EQT.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, July 27th. The oil and gas producer reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. EQT had a positive return on equity of 0.67% and a negative net margin of 28.97%. The business had revenue of $996.88 million for the quarter, compared to the consensus estimate of $1 billion.

A number of brokerages recently weighed in on EQT. Mizuho reduced their target price on shares of EQT from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, August 13th. Credit Suisse Group dropped their target price on shares of EQT from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, July 29th. Wells Fargo & Company increased their target price on EQT from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, August 23rd. Citigroup initiated coverage on EQT in a research note on Monday, August 30th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, Truist Securities raised their price objective on EQT from $29.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, October 7th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $24.29.

In other news, CEO Toby Z. Rice bought 28,000 shares of the company’s stock in a transaction dated Monday, August 2nd. The stock was bought at an average cost of $17.83 per share, for a total transaction of $499,240.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.52% of the company’s stock.

Several institutional investors have recently bought and sold shares of EQT. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of EQT by 30.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 24,128 shares of the oil and gas producer’s stock worth $448,000 after purchasing an additional 5,652 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in EQT by 20.1% in the first quarter. Rockefeller Capital Management L.P. now owns 4,958 shares of the oil and gas producer’s stock worth $92,000 after buying an additional 831 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in EQT by 116.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 27,175 shares of the oil and gas producer’s stock worth $345,000 after buying an additional 14,641 shares during the period. UBS Group AG lifted its holdings in EQT by 15.6% in the first quarter. UBS Group AG now owns 429,947 shares of the oil and gas producer’s stock worth $7,989,000 after buying an additional 58,127 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in EQT by 75.5% in the first quarter. Panagora Asset Management Inc. now owns 196,509 shares of the oil and gas producer’s stock worth $3,651,000 after buying an additional 84,509 shares during the period. Institutional investors own 97.58% of the company’s stock.

Shares of EQT traded up $0.70 during trading hours on Friday, reaching $20.55. The stock had a trading volume of 234,452 shares, compared to its average volume of 6,104,801. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.61. EQT has a 52 week low of $12.27 and a 52 week high of $23.24. The firm has a 50-day moving average of $19.26 and a 200 day moving average of $19.82. The company has a market cap of $7.77 billion, a P/E ratio of -3.65, a P/E/G ratio of 1.43 and a beta of 1.28.

EQT Company Profile

EQT Corp. engages in natural gas production, gathering and transmission in the Appalachian area. It has operations in Marcellus and Utica Shales of the Appalachian Basin. The company was founded in 1888 and is headquartered in Pittsburgh, PA.

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Earnings History and Estimates for EQT (NYSE:EQT)

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