Brokerages predict that CNX Resources Corp (NYSE:CNX) will report earnings per share (EPS) of $0.14 for the current quarter, according to Zacks. Four analysts have issued estimates for CNX Resources’ earnings. The lowest EPS estimate is $0.06 and the highest is $0.19. CNX Resources posted earnings per share of ($0.15) in the same quarter last year, which suggests a positive year-over-year growth rate of 193.3%. The company is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, October 30th.
According to Zacks, analysts expect that CNX Resources will report full-year earnings of $0.74 per share for the current fiscal year, with EPS estimates ranging from $0.48 to $0.92. For the next year, analysts expect that the company will post earnings of $0.57 per share, with EPS estimates ranging from $0.33 to $0.76. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for CNX Resources.
CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, August 2nd. The oil and gas producer reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.21. The company had revenue of $402.12 million for the quarter, compared to analyst estimates of $381.22 million. CNX Resources had a return on equity of 2.37% and a net margin of 40.07%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 earnings per share.
CNX has been the topic of several research reports. Zacks Investment Research lowered CNX Resources from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. ValuEngine lowered CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, July 28th. Raymond James lowered CNX Resources from a “market perform” rating to an “underperform” rating in a report on Monday, August 6th. They noted that the move was a valuation call. Finally, Goldman Sachs Group downgraded shares of CNX Resources from a “neutral” rating to a “sell” rating and set a $14.00 target price for the company. in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.00.
In other CNX Resources news, Director J. Palmer Clarkson bought 10,000 shares of the firm’s stock in a transaction dated Thursday, August 16th. The stock was acquired at an average price of $14.90 per share, for a total transaction of $149,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Federated Investors Inc. PA grew its position in CNX Resources by 6.0% in the 2nd quarter. Federated Investors Inc. PA now owns 81,825 shares of the oil and gas producer’s stock worth $1,455,000 after purchasing an additional 4,652 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of CNX Resources by 61.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 16,253 shares of the oil and gas producer’s stock worth $250,000 after buying an additional 6,205 shares during the period. State of Alaska Department of Revenue grew its position in shares of CNX Resources by 36.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 24,460 shares of the oil and gas producer’s stock worth $434,000 after buying an additional 6,580 shares during the period. FMR LLC grew its position in shares of CNX Resources by 1.6% during the 2nd quarter. FMR LLC now owns 483,497 shares of the oil and gas producer’s stock worth $8,596,000 after buying an additional 7,728 shares during the period. Finally, Point72 Asia Hong Kong Ltd acquired a new stake in shares of CNX Resources during the 1st quarter worth approximately $123,000. Institutional investors and hedge funds own 95.60% of the company’s stock.
Shares of CNX stock traded up $0.02 during mid-day trading on Friday, hitting $14.16. 2,055,127 shares of the stock were exchanged, compared to its average volume of 3,061,327. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of -88.50 and a beta of 1.03. CNX Resources has a 12-month low of $11.69 and a 12-month high of $18.37. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.65 and a current ratio of 0.67.
CNX Resources Company Profile
CNX Resources Corporation, an independent oil and natural gas company, explores for, develops, and produces natural gas in the Appalachian Basin. As of December 31, 2017, it had 7.6 trillion cubic feet equivalent of proved natural gas reserves. The company also owns, operates, and develops natural gas gathering and other midstream energy assets in the Marcellus Shale in Pennsylvania and West Virginia.
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