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EQT Corporation (EQT) Dips More Than Broader Markets: What You Should Know

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In the latest trading session, EQT Corporation (EQT - Free Report) closed at $32.73, marking a -1.48% move from the previous day. This change lagged the S&P 500's daily loss of 0.6%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 2.87%.

Heading into today, shares of the company had gained 12.57% over the past month, outpacing the Oils-Energy sector's gain of 11.36% and the S&P 500's gain of 6.22% in that time.

Wall Street will be looking for positivity from EQT Corporation as it approaches its next earnings report date. This is expected to be April 26, 2023. The company is expected to report EPS of $1.37, up 69.14% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.99 billion, up 26.69% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $3.38 per share and revenue of $7.08 billion, which would represent changes of +8.68% and +14.9%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for EQT Corporation. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

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 11.48% lower. EQT Corporation is holding a Zacks Rank of #4 (Sell) right now.

In terms of valuation, EQT Corporation is currently trading at a Forward P/E ratio of 9.84. This represents a premium compared to its industry's average Forward P/E of 6.8.

It is also worth noting that EQT currently has a PEG ratio of 0.48. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.43 at yesterday's closing price.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 226, putting it in the bottom 11% 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.

To follow EQT in the coming trading sessions, be sure to utilize Zacks.com.


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