EQT Corporation (NYSE:EQT) is expected to release first-quarter 2018 results on Apr 26.
The Pittsburgh, PA-based company’s earnings surprise history is impressive. The company surpassed the Zacks Consensus Estimate in three of the prior four quarters, with an average positive earnings surprise of 150.8%. Let’s see how things are shaping up for this announcement.
EQT Corporation Price and EPS Surprise
EQT Corporation Price and EPS Surprise | EQT Corporation Quote
Why a Likely Positive Surprise?
Our proven model shows that EQT Corporation is likely to beat on earnings because it has the right combination of two key ingredients.
Zacks ESP: Earnings ESP, which represents the difference between the Most Accurate estimate and the Zacks Consensus Estimate, is +18.59%. This is a very meaningful and leading indicator of a likely positive earnings surprise. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: EQT Corporation carries a Zacks Rank #3 (Hold), which when combined with +18.59% ESP, makes us confident about an earnings beat.
Please note that stocks with Zacks Ranks #1 (Strong Buy), 2 (Buy) or 3 have a significantly higher chance of beating earnings. The Sell-rated stocks (Zacks Rank #4 or 5) should never be considered going into an earnings announcement.
What’s Driving the Better-Than-Expected Earnings?
Per the Zacks Consensus Estimate, the average daily sales volume for the first quarter is pegged at 3,959 million cubic feet equivalent per day (MMcfe/d), which is higher than 3,200 MMcfe/d in the preceding quarter and 2,110 MMcfe/d in the year-ago quarter.
The Zacks Consensus Estimate for oil sales volume per day is 248 thousand barrels, showing an improvement from 231 thousand barrels in the preceding quarter.
Analysts polled by Zacks expect natural gas volumes per day of 328 Bcf, up from 266 Bcf in the preceding quarter.
The Zacks Consensus Estimate for earnings in the Production segment is pegged $371 million, reflecting an increase from $267 million in the last quarter and $257 million in the year-ago quarter.
Other Stocks to Consider
EQT Corporation is not the only company looking up this earnings season. Here are some other companies from the energy space that have the right combination of elements to post an earnings beat.
Comstock Resources, Inc. (NYSE:CRK) has an Earnings ESP of +37.34% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Oil States International, Inc. (NYSE:OIS) has an Earnings ESP of + 32.83% and a Zacks Rank #3.
Pioneer Natural Resources Company (NYSE:PXD) has an Earnings ESP of +2.15% and a Zacks Rank #3.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
EQT Corporation (EQT): Free Stock Analysis Report
Oil States International, Inc. (OIS): Free Stock Analysis Report
Pioneer Natural Resources Company (PXD): Free Stock Analysis Report
Comstock Resources, Inc. (CRK): Free Stock Analysis Report
Original post
Zacks Investment Research