Wall Street analysts forecast that EQT Corporation (EQT) will report quarterly earnings of $2.23 per share in its upcoming release, pointing to a year-over-year increase of 89%. It is anticipated that revenues will amount to $3.18 billion, exhibiting an increase of 47.8% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 16.7% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
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.
Based on the collective assessment of analysts, 'Operating revenues- Pipeline and other' should arrive at $162.13 million. The estimate suggests a change of -6.9% year over year.
Analysts expect 'Total natural gas and liquids sales, including cash settled derivatives' to come in at $2.85 billion. The estimate suggests a change of +32.3% year over year.
It is projected by analysts that the 'Operating revenues- Sales of natural gas, natural gas liquids and oil' will reach $3.08 billion. The estimate suggests a change of +37.2% year over year.
The collective assessment of analysts points to an estimated 'Revenues from contracts with customers- Oil sales' of $27.46 million. The estimate indicates a change of +31% from the prior-year quarter.
According to the collective judgment of analysts, 'Natural gas - Average natural gas price, including cash settled derivatives' should come in at $5.00 . The estimate compares to the year-ago value of $3.66 .
Analysts' assessment points toward 'Natural gas - Sales volume' reaching $567965.60 millions of cubic feet. Compared to the current estimate, the company reported $536338.00 millions of cubic feet in the same quarter of the previous year.
The consensus among analysts is that 'Sales Volume - Total' will reach 602527 millions of cubic feet equivalent. Compared to the present estimate, the company reported 570751 millions of cubic feet equivalent in the same quarter last year.
Analysts forecast 'Average Sales Price - Oil price' to reach $56.48 . The estimate compares to the year-ago value of $53.05 .
The average prediction of analysts places 'Average daily sales volume - Total' at 6695 millions of cubic feet equivalent per day. The estimate compares to the year-ago value of 6342 millions of cubic feet equivalent per day.
Analysts predict that the 'Oil - Sales volume' will reach 535 thousands of barrels of oil. Compared to the current estimate, the company reported 395 thousands of barrels of oil in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Average Sales Price - Natural gas price' will likely reach $5.31 . The estimate is in contrast to the year-ago figure of $3.83 .
The consensus estimate for 'Average realized price' stands at $5.09 . The estimate compares to the year-ago value of $3.77 .
View all Key Company Metrics for EQT here>>>EQT shares have witnessed a change of -9.7% in the past month, in contrast to the Zacks S&P 500 composite's +5.2% move. With a Zacks Rank #3 (Hold), EQT is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).