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EQT Corporation (EQT) Stock Moves -1.31%: What You Should Know

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The latest trading session saw EQT Corporation (EQT - Free Report) ending at $43.68, denoting a -1.31% adjustment from its last day's close. This move was narrower than the S&P 500's daily loss of 1.34%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 1.62%.

The the stock of company has risen by 7.98% in the past month, leading the Oils-Energy sector's gain of 0.46% and the S&P 500's loss of 1.57%.

The upcoming earnings release of EQT Corporation will be of great interest to investors. The company's earnings report is expected on October 25, 2023. The company is forecasted to report an EPS of -$0.07, showcasing a 106.73% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $1.21 billion, down 26.98% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.08 per share and revenue of $5.87 billion, indicating changes of -33.12% and -4.66%, respectively, compared to the previous year.

It is also important to note the recent changes to analyst estimates for EQT Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

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 3.63% lower. As of now, EQT Corporation holds a Zacks Rank of #3 (Hold).

From a valuation perspective, EQT Corporation is currently exchanging hands at a Forward P/E ratio of 21.3. For comparison, its industry has an average Forward P/E of 9.96, which means EQT Corporation is trading at a premium to the group.

It's also important to note that EQT currently trades at a PEG ratio of 1.1. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.45 based on yesterday's closing prices.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 14, finds itself in the top 6% echelons of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.


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