EQT Corporation (EQT) closed the most recent trading day at $48.87, moving -1.87% from the previous trading session. This change lagged the S&P 500's 1.84% gain on the day. At the same time, the Dow added 1.33%, and the tech-heavy Nasdaq gained 0.53%.
Heading into today, shares of the company had gained 15.95% over the past month, outpacing the Oils-Energy sector's gain of 14.09% and the S&P 500's loss of 0.5% in that time.
EQT Corporation will be looking to display strength as it nears its next earnings release. On that day, EQT Corporation is projected to report earnings of $0.51 per share, which would represent year-over-year growth of 628.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.37 billion, up 37.82% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.90 per share and revenue of $5.76 billion, which would represent changes of +215.22% and +27.67%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for EQT Corporation. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 6.52% higher. EQT Corporation is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, EQT Corporation is holding a Forward P/E ratio of 17.17. This represents a premium compared to its industry's average Forward P/E of 6.07.
Also, we should mention that EQT has a PEG ratio of 0.55. 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. EQT's industry had an average PEG ratio of 0.29 as of yesterday's close.
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 4, which puts it in the top 2% 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.
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