Today: The Brokers Offer Predictions for QEP Resources Inc.’s FY2016 Earnings (QEP)

The Brokers Offer Predictions for QEP Resources Inc.’s FY2016 Earnings (QEP)

QEP Resources Inc. (NYSE:QEP) – Research analysts at FBR & Co cut their FY2016 earnings estimates for shares of QEP Resources in a note issued to investors on Thursday. FBR & Co analyst C. Mabry now expects that the brokerage will earn ($1.28) per share for the year, down from their prior estimate of ($1.19). FBR & Co has a “Marketperform” rating on the stock. FBR & Co also issued estimates for QEP Resources’ Q4 2016 earnings at ($0.25) EPS, Q1 2017 earnings at ($0.24) EPS, Q2 2017 earnings at ($0.24) EPS, Q3 2017 earnings at ($0.24) EPS, Q4 2017 earnings at ($0.22) EPS and FY2017 earnings at ($0.94) EPS.

QEP has been the topic of several other reports. Mizuho assumed coverage on QEP Resources in a report on Wednesday, October 5th. They set a “buy” rating and a $24.00 target price on the stock. Evercore ISI assumed coverage on QEP Resources in a report on Friday, October 7th. They set a “hold” rating and a $22.00 price objective on the stock. Zacks Investment Research downgraded QEP Resources from a “hold” rating to a “sell” rating in a report on Wednesday, October 19th. Barclays PLC lifted their price objective on QEP Resources from $13.00 to $17.00 and gave the stock an “equal weight” rating in a report on Thursday, July 14th. Finally, Wells Fargo & Co. restated a “market perform” rating on shares of QEP Resources in a report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $22.40.

Shares of QEP Resources (NYSE:QEP) opened at 16.43 on Monday. The stock’s 50 day moving average price is $17.93 and its 200 day moving average price is $18.06. The stock’s market cap is $3.94 billion. QEP Resources has a 1-year low of $8.54 and a 1-year high of $20.96.

QEP Resources (NYSE:QEP) last released its quarterly earnings results on Wednesday, October 26th. The company reported ($0.21) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.03. QEP Resources had a negative return on equity of 5.55% and a negative net margin of 79.57%. The business earned $382.40 million during the quarter. During the same quarter last year, the company earned $0.01 EPS. QEP Resources’s revenue for the quarter was down 24.7% compared to the same quarter last year.

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its stake in shares of QEP Resources by 33.9% in the first quarter. Wellington Management Group LLP now owns 27,715,828 shares of the company’s stock valued at $391,071,000 after buying an additional 7,013,529 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of QEP Resources by 19.2% in the second quarter. Vanguard Group Inc. now owns 17,482,358 shares of the company’s stock valued at $308,213,000 after buying an additional 2,810,845 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of QEP Resources by 21.7% in the second quarter. BlackRock Fund Advisors now owns 8,498,031 shares of the company’s stock valued at $149,820,000 after buying an additional 1,515,475 shares during the last quarter. State Street Corp increased its stake in shares of QEP Resources by 3.8% in the second quarter. State Street Corp now owns 7,808,443 shares of the company’s stock valued at $137,666,000 after buying an additional 287,527 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of QEP Resources by 9.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,372,496 shares of the company’s stock valued at $112,347,000 after buying an additional 546,750 shares during the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

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