QEP Resources, Inc. Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component QEP Resources, Inc. (NYSE:QEP) will unveil its latest earnings on Tuesday, July 26, 2011. QEP Resources, Inc. is an energy company that explores and develops natural gas, oil, and natural gas liquids.

QEP Resources, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 33 cents per share, a decline of 25% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 32 cents. For the year, analysts are projecting net income of $1.47 per share, a rise of 19.5% from last year.

Past Earnings Performance: The company met estimates last quarter after falling short of forecasts in the prior two. Before reporting profit of 30 cents per share in first quarter to fall in line with expectations, the company beat estimates by 9 cents in the fourth quarter of the last fiscal year.

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Wall St. Revenue Expectations: On average, analysts predict $594.3 million in revenue this quarter, a rise of 12.2% from the year ago quarter. Analysts are forecasting total revenue of $2.43 billion for the year, a rise of 8% from last year’s revenue of $2.25 billion.

Analyst Ratings: Analysts are bullish on this stock with 10 analysts rating it as a buy, none rating it as a sell and one rating it as a hold.

Key Stats:

The company’s gross margin shrank by 11.2 percentage points in the in the first quarter. Revenue fell 7.2% while cost of sales rose 30.3% to $231.2 million from a year earlier.

Competitors to Watch: Questar Corporation (NYSE:STR), GeoResources, Inc. (NASDAQ:GEOI), Warren Resources, Inc. (NASDAQ:WRES), Continental Resources, Inc. (NYSE:CLR), Chevron Corporation (NYSE:CVX), Oasis Petroleum Inc. (NYSE:OAS), Gastar Exploration Ltd. (AMEX:GST), Encore Energy Partners LP (NYSE:ENP), Devon Energy Corporation (NYSE:DVN), and Double Eagle Petroleum Co. (NASDAQ:DBLE).

Stock Price Performance: During June 21, 2011 to July 20, 2011, the stock price had risen $2.93 (7.4%) from $39.60 to $42.53. The stock price saw one of its best stretches over the last year between June 22, 2011 and July 1, 2011 when shares rose for eight-straight days, rising 7.8% (+$3.08) over that span. It saw one of its worst periods between September 3, 2010 and September 14, 2010 when shares fell for seven-straight days, falling 6.3% (-$1.99) over that span. Shares are up $6.26 (+17.3%) year to date.

(Source: Xignite Financials)

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