Trade Report: The Q3 2016 Earnings Forecast for QEP Resources Inc. (QEP) Issued By SunTrust Banks

The Q3 2016 Earnings Forecast for QEP Resources Inc. (QEP) Issued By SunTrust Banks

QEP Resources Inc. (NYSE:QEP) – SunTrust Banks dropped their Q3 2016 EPS estimates for shares of QEP Resources in a report released on Wednesday. SunTrust Banks analyst N. Dingmann now expects that the firm will post earnings of ($0.25) per share for the quarter, down from their prior forecast of ($0.19). SunTrust Banks also issued estimates for QEP Resources’ Q4 2016 earnings at ($0.25) EPS, FY2016 earnings at ($1.20) EPS, Q1 2017 earnings at ($0.17) EPS, Q2 2017 earnings at ($0.17) EPS, Q3 2017 earnings at ($0.15) EPS, Q4 2017 earnings at ($0.14) EPS and FY2017 earnings at ($0.62) EPS.

QEP has been the topic of several other reports. Goldman Sachs Group Inc. initiated coverage on QEP Resources in a report on Thursday, October 6th. They issued a “neutral” rating and a $21.00 price target on the stock. Mizuho started coverage on QEP Resources in a report on Wednesday, October 5th. They issued a “buy” rating and a $24.00 price target on the stock. Zacks Investment Research downgraded QEP Resources from a “hold” rating to a “sell” rating in a report on Wednesday, October 19th. Evercore ISI started 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. Finally, Barclays PLC upgraded QEP Resources from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $17.00 to $22.00 in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $22.40.

QEP Resources (NYSE:QEP) opened at 16.43 on Monday. QEP Resources has a 52 week low of $8.54 and a 52 week high of $20.96. The firm has a 50-day moving average price of $17.93 and a 200-day moving average price of $18.06. The stock’s market capitalization is $3.94 billion.

QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, October 26th. The company reported ($0.21) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.03. The business had revenue of $382.40 million for the quarter. QEP Resources had a negative return on equity of 5.55% and a negative net margin of 79.57%. QEP Resources’s revenue for the quarter was down 24.7% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share.

Several hedge funds have recently bought and sold shares of the company. ClariVest Asset Management LLC purchased a new stake in shares of QEP Resources during the second quarter worth approximately $105,000. Quantbot Technologies LP purchased a new stake in shares of QEP Resources during the second quarter worth approximately $119,000. Wright Investors Service Inc. purchased a new stake in shares of QEP Resources during the second quarter worth approximately $183,000. MUFG Americas Holdings Corp boosted its stake in shares of QEP Resources by 201.4% in the second quarter. MUFG Americas Holdings Corp now owns 11,255 shares of the company’s stock worth $198,000 after buying an additional 7,521 shares in the last quarter. Finally, Raymond James Trust N.A. purchased a new stake in shares of QEP Resources during the third quarter worth approximately $204,000. 87.51% of the stock is owned by hedge funds and other institutional investors.

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