Analysts expect that CNX Resources Corp (NYSE:CNX) will report earnings of $0.28 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for CNX Resources’ earnings, with the lowest EPS estimate coming in at $0.20 and the highest estimate coming in at $0.32. CNX Resources reported earnings per share of $0.19 in the same quarter last year, which indicates a positive year over year growth rate of 47.4%. The company is expected to announce its next earnings report on Thursday, May 2nd.
According to Zacks, analysts expect that CNX Resources will report full-year earnings of $0.61 per share for the current year, with EPS estimates ranging from $0.31 to $0.87. For the next fiscal year, analysts forecast that the firm will report earnings of $0.37 per share, with EPS estimates ranging from ($0.21) to $0.73. Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for CNX Resources.
CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, January 31st. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.39. The business had revenue of $435.46 million for the quarter, compared to analyst estimates of $436.26 million. CNX Resources had a net margin of 46.03% and a return on equity of 5.91%. During the same period in the prior year, the firm earned ($0.23) earnings per share.
A number of research analysts have weighed in on CNX shares. Tudor Pickering lowered shares of CNX Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 1st. ValuEngine lowered shares of CNX Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 31st. Robert W. Baird reaffirmed a “buy” rating and issued a $15.00 price objective on shares of CNX Resources in a research note on Monday, February 4th. MKM Partners started coverage on shares of CNX Resources in a research note on Wednesday, December 5th. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, Susquehanna Bancshares set a $11.00 price objective on shares of CNX Resources and gave the company a “hold” rating in a research note on Saturday, February 2nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $15.00.
In related news, Director Bernard Lanigan, Jr. acquired 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 19th. The stock was acquired at an average price of $11.95 per share, for a total transaction of $1,195,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Hawaiian Bank increased its stake in shares of CNX Resources by 54.9% in the fourth quarter. First Hawaiian Bank now owns 2,948 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 1,045 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of CNX Resources by 1,126.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 970,403 shares of the oil and gas producer’s stock valued at $85,000 after acquiring an additional 891,300 shares during the period. Macquarie Group Ltd. boosted its position in shares of CNX Resources by 869.5% in the fourth quarter. Macquarie Group Ltd. now owns 7,756 shares of the oil and gas producer’s stock valued at $89,000 after acquiring an additional 6,956 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of CNX Resources by 14.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,414 shares of the oil and gas producer’s stock valued at $142,000 after acquiring an additional 1,554 shares during the period. Finally, HRT Financial LLC bought a new position in shares of CNX Resources in the fourth quarter valued at approximately $160,000. Institutional investors and hedge funds own 98.10% of the company’s stock.
NYSE CNX traded up $0.21 on Friday, hitting $10.60. 3,196,327 shares of the company were exchanged, compared to its average volume of 3,590,171. The firm has a market cap of $2.07 billion, a PE ratio of 6.93 and a beta of 0.88. CNX Resources has a 12 month low of $9.58 and a 12 month high of $18.37. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.47.
About CNX Resources
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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