Zacks: Brokerages Anticipate EQT Co. (NYSE:EQT) Will Post Quarterly Sales of $1.12 Billion

Equities research analysts expect EQT Co. (NYSE:EQT) to report $1.12 billion in sales for the current fiscal quarter, according to Zacks. Sixteen analysts have made estimates for EQT’s earnings, with the lowest sales estimate coming in at $1.00 billion and the highest estimate coming in at $1.29 billion. EQT posted sales of $853.16 million during the same quarter last year, which suggests a positive year over year growth rate of 31.3%. The business is expected to report its next earnings report after the market closes on Wednesday, October 27th.

On average, analysts expect that EQT will report full-year sales of $3.89 billion for the current fiscal year, with estimates ranging from $2.96 billion to $4.83 billion. For the next year, analysts forecast that the firm will report sales of $5.47 billion, with estimates ranging from $4.81 billion to $6.07 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover EQT.

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

EQT has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of EQT from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, August 23rd. Truist upped their price target on shares of EQT from $29.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, October 7th. Credit Suisse Group dropped their price objective on shares of EQT from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, July 29th. Citigroup initiated coverage on shares of EQT in a research note on Monday, August 30th. They set a “buy” rating and a $23.00 price objective for the company. Finally, Truist Securities upped their price objective on shares of EQT from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, October 7th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $24.29.

In related news, CEO Toby Z. Rice acquired 28,000 shares of the stock in a transaction that occurred on Monday, August 2nd. The stock was purchased at an average price of $17.83 per share, with a total value of $499,240.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. PNC Managed Account Solutions Inc. acquired a new stake in EQT during the 2nd quarter worth approximately $32,000. Capital Analysts LLC acquired a new stake in EQT during the 1st quarter worth approximately $74,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in EQT during the 2nd quarter worth approximately $104,000. Rockefeller Capital Management L.P. raised its holdings in shares of EQT by 20.1% in the 1st quarter. Rockefeller Capital Management L.P. now owns 4,958 shares of the oil and gas producer’s stock valued at $92,000 after purchasing an additional 831 shares in the last quarter. Finally, FORA Capital LLC acquired a new stake in shares of EQT in the 2nd quarter valued at $156,000. Institutional investors own 97.58% of the company’s stock.

Shares of EQT stock traded up $0.70 during trading hours on Monday, reaching $20.55. The stock had a trading volume of 234,452 shares, compared to its average volume of 6,104,801. The stock’s 50 day moving average is $19.26 and its 200 day moving average is $19.82. The firm has a market capitalization of $7.77 billion, a PE ratio of -3.65, a PEG ratio of 1.43 and a beta of 1.28. EQT has a twelve month low of $12.27 and a twelve month high of $23.24. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.61.

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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