Brokerages Anticipate Ciner Resources LP (CINR) to Announce $0.68 EPS

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Analysts forecast that Ciner Resources LP (NYSE:CINR) will report $0.68 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Ciner Resources’ earnings. The lowest EPS estimate is $0.62 and the highest is $0.73. Ciner Resources posted earnings per share of $0.66 in the same quarter last year, which indicates a positive year over year growth rate of 3%. The firm is expected to report its next quarterly earnings report on Thursday, February 21st.

According to Zacks, analysts expect that Ciner Resources will report full-year earnings of $2.62 per share for the current year, with EPS estimates ranging from $2.47 to $2.76. For the next fiscal year, analysts anticipate that the business will report earnings of $2.25 per share, with EPS estimates ranging from $2.13 to $2.37. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Ciner Resources.

Ciner Resources (NYSE:CINR) last issued its earnings results on Monday, November 5th. The basic materials company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.16). Ciner Resources had a return on equity of 19.76% and a net margin of 10.19%. The business had revenue of $123.40 million for the quarter, compared to the consensus estimate of $130.30 million.

CINR has been the subject of several recent research reports. Zacks Investment Research downgraded Ciner Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th. B. Riley reduced their price target on Ciner Resources from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. ValuEngine downgraded Ciner Resources from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Citigroup boosted their price target on Ciner Resources from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, August 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Ciner Resources presently has a consensus rating of “Hold” and an average target price of $29.75.

Shares of NYSE CINR traded down $0.10 during midday trading on Monday, hitting $24.01. 9,474 shares of the company’s stock were exchanged, compared to its average volume of 14,747. The company has a current ratio of 2.33, a quick ratio of 2.64 and a debt-to-equity ratio of 0.40. Ciner Resources has a 12 month low of $23.76 and a 12 month high of $29.36. The company has a market capitalization of $480.35 million, a P/E ratio of 11.60 and a beta of 0.79.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Monday, November 5th will be paid a $0.567 dividend. The ex-dividend date is Friday, November 2nd. This is an increase from Ciner Resources’s previous quarterly dividend of $0.56. This represents a $2.27 annualized dividend and a yield of 9.45%. Ciner Resources’s payout ratio is 109.66%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CINR. Western Standard LLC boosted its stake in 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 purchasing an additional 11,133 shares during the period. Renaissance Technologies LLC bought a new stake in Ciner Resources in the 2nd quarter valued at $878,000. Finally, Bank of America Corp DE boosted its stake in Ciner Resources by 110.0% in the 2nd quarter. Bank of America Corp DE now owns 4,200 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 2,200 shares during the period. Institutional investors and hedge funds own 9.12% of the company’s stock.

About Ciner Resources

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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