Brokerages expect that Corenergy Infrastructure Trust Inc (NYSE:CORR) will post $22.20 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Corenergy Infrastructure Trust’s earnings, with estimates ranging from $22.12 million to $22.28 million. Corenergy Infrastructure Trust reported sales of $22.44 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.1%. The company is expected to announce its next earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Corenergy Infrastructure Trust will report full-year sales of $88.06 million for the current financial year, with estimates ranging from $87.86 million to $88.25 million. For the next year, analysts forecast that the company will post sales of $89.70 million, with estimates ranging from $87.25 million to $92.15 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Corenergy Infrastructure Trust.
Corenergy Infrastructure Trust (NYSE:CORR) last issued its earnings results on Wednesday, August 1st. The asset manager reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.54). The firm had revenue of $22.15 million during the quarter, compared to the consensus estimate of $22.05 million. Corenergy Infrastructure Trust had a return on equity of 9.32% and a net margin of 35.52%.
Separately, Zacks Investment Research upgraded shares of Corenergy Infrastructure Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in Corenergy Infrastructure Trust during the first quarter valued at approximately $109,000. State of Alaska Department of Revenue purchased a new stake in Corenergy Infrastructure Trust during the third quarter valued at approximately $142,000. Campbell & CO Investment Adviser LLC purchased a new stake in Corenergy Infrastructure Trust during the second quarter valued at approximately $258,000. CIBC Private Wealth Group LLC purchased a new stake in Corenergy Infrastructure Trust during the second quarter valued at approximately $263,000. Finally, Commonwealth Equity Services LLC purchased a new stake in Corenergy Infrastructure Trust during the first quarter valued at approximately $266,000. Hedge funds and other institutional investors own 63.89% of the company’s stock.
Shares of NYSE CORR traded up $0.10 during midday trading on Friday, hitting $36.22. The stock had a trading volume of 27,537 shares, compared to its average volume of 50,128. The company has a market cap of $431.08 million, a PE ratio of 9.51, a P/E/G ratio of 1.92 and a beta of 1.80. Corenergy Infrastructure Trust has a 52 week low of $34.22 and a 52 week high of $39.46. The company has a debt-to-equity ratio of 0.47, a quick ratio of 5.92 and a current ratio of 5.92.
About Corenergy Infrastructure Trust
CorEnergy Infrastructure Trust, Inc (NYSE: CORR, CORRPrA), is a real estate investment trust (REIT) that owns essential energy assets, such as pipelines, storage terminals, and transmission and distribution assets. We receive long-term contracted revenue from operators of our assets, primarily under triple-net participating leases.
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