Zacks Investment Research Lowers Consol Energy (CEIX) to Hold

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Zacks Investment Research lowered shares of Consol Energy (NYSE:CEIX) from a buy rating to a hold rating in a research report sent to investors on Monday, Zacks.com reports.

According to Zacks, “CONSOL Energy Inc. is a producer and exporter of high-Btu bituminous thermal and crossover metallurgical coal. It owns and operates productive longwall mining operations primarily in the Northern Appalachian Basin. CONSOL Energy Inc. is based in CANONSBURG, Pa. “

Several other equities research analysts have also weighed in on CEIX. ValuEngine raised Consol Energy from a sell rating to a hold rating in a research report on Monday, February 4th. Seaport Global Securities set a $50.00 price target on Consol Energy and gave the company a buy rating in a report on Saturday, February 9th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Consol Energy currently has an average rating of Hold and an average price target of $45.50.

Shares of NYSE CEIX opened at $33.72 on Monday. Consol Energy has a 1-year low of $29.16 and a 1-year high of $48.12. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $941.50 million, a price-to-earnings ratio of 6.27 and a beta of 0.87.

Consol Energy (NYSE:CEIX) last issued its earnings results on Friday, February 8th. The company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.65. Consol Energy had a return on equity of 32.47% and a net margin of 9.99%. The firm had revenue of $347.80 million for the quarter, compared to analyst estimates of $352.30 million. During the same period last year, the company earned ($1.04) earnings per share. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. Sell-side analysts anticipate that Consol Energy will post 3.16 EPS for the current fiscal year.

In other news, SVP James J. Mccaffrey sold 1,738 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $38.40, for a total transaction of $66,739.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.71% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of Consol Energy by 10.2% during the fourth quarter. Geode Capital Management LLC now owns 292,128 shares of the company’s stock valued at $9,263,000 after purchasing an additional 26,982 shares during the period. FMR LLC increased its holdings in shares of Consol Energy by 248.0% during the fourth quarter. FMR LLC now owns 318,551 shares of the company’s stock valued at $10,102,000 after purchasing an additional 227,023 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Consol Energy by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 19,797 shares of the company’s stock valued at $628,000 after purchasing an additional 435 shares during the period. Globeflex Capital L P bought a new position in Consol Energy during the fourth quarter valued at about $106,000. Finally, Municipal Employees Retirement System of Michigan bought a new position in Consol Energy during the fourth quarter valued at about $257,000. 82.83% of the stock is currently owned by institutional investors.

Consol Energy Company Profile

CONSOL Energy Inc produces and exports bituminous coal. It owns and operates its mining operations in the Northern Appalachian Basin. The company owns and operates the Pennsylvania Mining Complex (PAMC), which comprises three underground mines, including Bailey, Enlow Fork, and Harvey; and CONSOL Marine Terminal located in the port of Baltimore.

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