Wall Street analysts expect EQT Corporation (EQT) to post quarterly earnings of $0.73 per share in its upcoming report, which indicates a year-over-year increase of 5.8%. Revenues are expected to be $2.06 billion, up 13.3% from the year-ago quarter.
Over the last 30 days, there has been a downward revision of 11.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific EQT metrics that are commonly monitored and projected by Wall Street analysts.
The consensus among analysts is that 'Operating revenues- Pipeline, net marketing services and other' will reach $147.40 million. The estimate points to a change of -11.8% from the year-ago quarter.
The combined assessment of analysts suggests that 'Operating revenues- Sales of natural gas, natural gas liquids and oil' will likely reach $1.96 billion. The estimate indicates a change of +19.4% from the prior-year quarter.
The consensus estimate for 'Revenues from contracts with customers- NGLs sales' stands at $141.22 million. The estimate indicates a change of -21.7% from the prior-year quarter.
It is projected by analysts that the 'Total Natural Gas and Liquids Sales, Including Cash Settled Derivatives' will reach $1.92 billion. The estimate suggests a change of +5.6% year over year.
Based on the collective assessment of analysts, 'Average Sales Price - Oil price' should arrive at $45.41 . Compared to the present estimate, the company reported $54.75 in the same quarter last year.
Analysts' assessment points toward 'NGLs, excluding ethane - NGLs price' reaching $28.61 . The estimate compares to the year-ago value of $41.10 .
Analysts predict that the 'Natural gas - Sales volume' will reach $563644.60 millions of cubic feet. The estimate compares to the year-ago value of $565867.00 millions of cubic feet.
The collective assessment of analysts points to an estimated 'Sales Volume - Total' of 601337 millions of cubic feet equivalent. Compared to the present estimate, the company reported 605183 millions of cubic feet equivalent in the same quarter last year.
Analysts forecast 'Oil - Sales volume' to reach 463 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 496 thousands of barrels of oil.
According to the collective judgment of analysts, 'Average Sales Price - Ethane price' should come in at $8.61 . The estimate compares to the year-ago value of $6.20 .
Analysts expect 'NGLs - Sales volumes (NGLs, excluding ethane)' to come in at 3775 thousands of barrels of oil. Compared to the present estimate, the company reported 4028 thousands of barrels of oil in the same quarter last year.
The average prediction of analysts places 'Ethane - Sales volume' at 1899 thousands of barrels of oil. Compared to the present estimate, the company reported 2028 thousands of barrels of oil in the same quarter last year.
View all Key Company Metrics for EQT here>>>
Over the past month, shares of EQT have returned +13.3% versus the Zacks S&P 500 composite's -0.3% change. Currently, EQT carries a Zacks Rank #5 (Strong Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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EQT Corporation (EQT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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