EQT Corporation (NYSE:EQT) reached $5B by 18-December-18 in the wake of -0.11% downturn. The shares gained some momentum after bears carried it down to $18.64. The final price for the day of 18.87 was still down from $19.18. The stock remained range bound between $18.64 and $19.18. Trading activity significantly weakened as the volume at ready counter decreased to 5,864,409 shares versus 7,399,110 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 4,232,318 shares. The stock is now 15.84% above against its bear-market low of $16.29 on November 16, 2018. It has retreated -216.16% since it’s 52-week high of $59.66 reached in January. Now the market price is down -36.64% on the year and down -39.1% YTD.
EQT’s 50 day simple moving average (SMA 50) price is $29.56 and its 200-day simple moving average (SMA 200) price is $45.37. The company’s stock currently has a total float of 252.8M shares. Its weekly volatility is hovering around 4.58% and felt 5.28% volatility in price over a month. On the upside, the share price will test short term resistance at around $19.15. On a downside, the stock is likely to find some support, which begins at $18.61. The failure to get near-term support could push it to $18.36.
Separately, it has been reported that multiple insider activity took place at EQT Corporation (EQT). EVP, Production Centofanti Erin R. acquired 10,000 shares for $49,447 in transaction occurred on 2018/11/21. After making this transaction, the EVP, Production owns a direct stake of 175,200 shares, worth $933,065, as per the last closing price. On 2018/11/16 Lushko Jonathan M., General Counsel & SVP at EQT, purchased 2,960 shares at an average price of $16.83 per share. The new stake is valued at $236,970.
SVP, Human Resources, Smith David Joseph had invested in 10,000 shares for $27,310 through a trade on 2018/11/16. Following this activity, the insider holds 163,300 shares worth $515,340 as of recent close. Wall Street’s most bullish EQT Corporation (NYSE:EQT) analysts are predicting the share price to blow past $41 per share during the next 12 months. The current median share price forecast by them is $25, suggesting that the stock could increase 32.49% in that time frame. The average price target of $25.58 calls for a nearly 35.56% increase in the stock price.
It had seen a new analyst call from MKM Partners, which initiated the stock at Buy on December 06. Analysts at Goldman, shed their negative views on November 20 by lifting it fromNeutral to Buy. The stock lost favor of Morgan Stanley analysts who expressed their lack of confidence in it using a downgrade from Equal-Weight to Underweight on November 14. BMO Capital Markets analysts came out with bearish views on October 26 when the call was made. They think the stock is now Market Perform compared to to their prior call for Outperform.
Moreover, it trades for 10.33 times the next 12 months of expected earnings. Also, it is trading at rather inexpensive levels at just over 0.45x price/book and 1.05x price/sales. Compared to others, EQT Corporation is in a different league with regards to profitability, having net margins of -6.9%. To put some perspective around this, the industry’s average net margin is 17.85%. EQT’s ROE is -2.7%, which is also considerably worse than the industry’s ROE of 18.52%. It’s also not liquid in the near term, with a current ratio of 0.5. The stock has a debt/capital of 0.77.
Shares of EQT Corporation (EQT) have dropped -53.3% since the company’s last earnings report. Over the past 12 fiscal quarters, EQT Corporation (NYSE:EQT) has topped consensus earnings estimates in 10 quarters (83%), missed earnings in 1 quarters (8%), whereas at 1 occasion EPS met analyst expectations. EQT last reported earnings on October 25, 2018 when it released Sep-18 results that receded expectations. The company raked in $0.35 per share, -97.98% change on the same period last year. That was worse than consensus for $0.42. Revenue for the recent quarter stood at $1.16 billion, up 76% on last year and below the $1.21 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $1.08 billion to $1.37 billion, which should be compared with $1.35 billion generated last year. EPS is seen in a range of $0.17 to $1.64, against the $0.61 reported a year ago.