EQT Corporation (EQT) Dips More Than Broader Markets: What You Should Know
EQT Corporation (EQT) closed at $30.28 in the latest trading session, marking a -0.43% move from the prior day. This change lagged the S&P 500's daily loss of 0.15%. Elsewhere, the Dow lost 0.28%, while the tech-heavy Nasdaq added 3.16%.
Prior to today's trading, shares of the company had lost 3.98% over the past month. This has was narrower than the Oils-Energy sector's loss of 7.03% and the S&P 500's loss of 5.39% 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 $1.87 per share, which would represent year-over-year growth of 130.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.16 billion, up 37.8% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.34 per share and revenue of $7.9 billion. These totals would mark changes of +71.7% and +28.23%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for EQT Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 15.72% lower within the past month. EQT Corporation is currently a Zacks Rank #5 (Strong Sell).
In terms of valuation, EQT Corporation is currently trading at a Forward P/E ratio of 5.69. This represents a premium compared to its industry's average Forward P/E of 5.68.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 229, putting it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow EQT in the coming trading sessions, be sure to utilize Zacks.com.
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EQT Corporation (EQT) : Free Stock Analysis Report
