Wall Street brokerages forecast that Ciner Resources LP (NYSE:CINR) will announce $0.60 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Ciner Resources’ earnings, with estimates ranging from $0.53 to $0.66. Ciner Resources posted earnings of $0.46 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 30.4%. The firm is scheduled to announce its next earnings report on Monday, November 5th.
On average, analysts expect that Ciner Resources will report full year earnings of $2.62 per share for the current financial year, with EPS estimates ranging from $2.47 to $2.76. For the next financial year, analysts expect that the business will report earnings of $2.25 per share, with EPS estimates ranging from $2.13 to $2.37. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Ciner Resources.
Ciner Resources (NYSE:CINR) last released its quarterly earnings data on Monday, August 6th. The basic materials company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.26. Ciner Resources had a net margin of 10.25% and a return on equity of 19.95%. The business had revenue of $109.90 million during the quarter, compared to analysts’ expectations of $123.65 million.
A number of equities analysts have issued reports on CINR shares. ValuEngine cut Ciner Resources from a “hold” rating to a “sell” rating in a report on Wednesday, June 6th. Zacks Investment Research cut Ciner Resources from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. B. Riley lowered their target price on Ciner Resources from $35.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, May 10th. Finally, Citigroup increased their target price on Ciner Resources from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $29.75.
Shares of CINR traded up $0.09 during trading hours on Friday, reaching $27.99. The stock had a trading volume of 5,026 shares, compared to its average volume of 5,869. The company has a quick ratio of 2.64, a current ratio of 2.97 and a debt-to-equity ratio of 0.53. Ciner Resources has a 52 week low of $23.76 and a 52 week high of $29.36. The stock has a market cap of $546.34 million, a P/E ratio of 13.52 and a beta of 0.88.
The company also recently announced a quarterly dividend, which was paid on Monday, August 20th. Shareholders of record on Monday, August 6th were issued a dividend of $0.567 per share. This represents a $2.27 dividend on an annualized basis and a yield of 8.10%. The ex-dividend date was Friday, August 3rd. Ciner Resources’s dividend payout ratio (DPR) is presently 109.66%.
A number of hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in Ciner Resources by 110.0% during the 2nd quarter. Bank of America Corp DE now owns 4,200 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 2,200 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Ciner Resources by 27.8% in the 4th quarter. Renaissance Technologies LLC now owns 11,500 shares of the basic materials company’s stock valued at $289,000 after acquiring an additional 2,500 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Ciner Resources in the 1st quarter valued at about $215,000. Western Standard LLC grew its holdings in shares of Ciner Resources by 23.6% in the 2nd quarter. Western Standard LLC now owns 58,244 shares of the basic materials company’s stock valued at $1,531,000 after acquiring an additional 11,133 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Ciner Resources by 267.8% in the 4th quarter. Deutsche Bank AG now owns 33,100 shares of the basic materials company’s stock valued at $831,000 after acquiring an additional 24,100 shares in the last quarter. Hedge funds and other institutional investors own 10.06% of the company’s stock.
Ciner Resources Company Profile
Ciner Resources LP engages in the trona ore mining and soda ash production businesses in the United States and internationally. It processes trona ore into soda ash, which is a raw material in flat glass, container glass, detergents, chemicals, paper, and other consumer and industrial products. The company has approximately 23,500 acres of leased and licensed subsurface mining areas in the Green River Basin of Wyoming.
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