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EQT Corporation (EQT) Dips More Than Broader Markets: What You Should Know

·3 min read

EQT Corporation (EQT) closed at $46.56 in the latest trading session, marking a -1.65% move from the prior day. This change lagged the S&P 500's 1.13% loss on the day. Meanwhile, the Dow lost 1.01%, and the Nasdaq, a tech-heavy index, lost 0.07%.

Heading into today, shares of the company had lost 3.62% over the past month, lagging the Oils-Energy sector's loss of 1.89% and outpacing the S&P 500's loss of 7.59% in that time.

Wall Street will be looking for positivity from EQT Corporation as it approaches its next earnings report date. On that day, EQT Corporation is projected to report earnings of $1.01 per share, which would represent year-over-year growth of 741.67%. Our most recent consensus estimate is calling for quarterly revenue of $1.68 billion, up 45.22% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $4.05 per share and revenue of $6.35 billion, which would represent changes of +340.22% and +40.81%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for EQT Corporation. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.35% higher. EQT Corporation is currently a Zacks Rank #3 (Hold).

Looking at its valuation, EQT Corporation is holding a Forward P/E ratio of 11.68. For comparison, its industry has an average Forward P/E of 5.1, which means EQT Corporation is trading at a premium to the group.

It is also worth noting that EQT currently has a PEG ratio of 0.2. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.2 based on yesterday's closing prices.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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