EQT Corporation (EQT) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw EQT Corporation (EQT) ending at $33.78, denoting a -0.68% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.29%. Elsewhere, the Dow saw a downswing of 0.35%, while the tech-heavy Nasdaq depreciated by 0.3%.
The company's stock has climbed by 3.19% in the past month, falling short of the Oils-Energy sector's gain of 6.58% and the S&P 500's gain of 4.42%.
Analysts and investors alike will be keeping a close eye on the performance of EQT Corporation in its upcoming earnings disclosure. On that day, EQT Corporation is projected to report earnings of $0.94 per share, which would represent a year-over-year decline of 44.71%. Simultaneously, our latest consensus estimate expects the revenue to be $1.85 billion, showing a 1.8% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.34 per share and revenue of $6.8 billion, indicating changes of +2.18% and +20.91%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for EQT Corporation. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection has moved 11.78% lower. EQT Corporation is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, EQT Corporation currently has a Forward P/E ratio of 14.53. Its industry sports an average Forward P/E of 10.49, so one might conclude that EQT Corporation is trading at a premium comparatively.
It is also worth noting that EQT currently has a PEG ratio of 1.05. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Oil and Gas - Exploration and Production - United States industry stood at 0.69 at the close of the market yesterday.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 216, this industry ranks in the bottom 15% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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EQT Corporation (EQT) : Free Stock Analysis Report
