Ciner Resources LP (NYSE:CINR) declared a dividend on Friday, October 27th, Fidelity reports. Shareholders of record on Monday, November 6th will be paid a dividend of 0.567 per share by the basic materials company on Monday, November 20th. The ex-dividend date is Friday, November 3rd. This is a positive change from Ciner Resources’s previous dividend of $0.56.
Ciner Resources has a dividend payout ratio of 119.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Ciner Resources to earn $2.09 per share next year, which means the company may not be able to cover its $2.27 annual dividend with an expected future payout ratio of 108.6%.
Shares of Ciner Resources (NYSE:CINR) traded down 1.38% during midday trading on Friday, hitting $25.05. The company had a trading volume of 10,303 shares. The firm has a market capitalization of $504.23 million, a PE ratio of 12.59 and a beta of 1.00. The company has a 50-day moving average of $25.17 and a 200 day moving average of $26.61. Ciner Resources has a 12 month low of $22.61 and a 12 month high of $32.50.
Ciner Resources (NYSE:CINR) last posted its quarterly earnings results on Monday, August 7th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.12). The business had revenue of $119.70 million during the quarter, compared to analyst estimates of $129.20 million. Ciner Resources had a return on equity of 15.65% and a net margin of 8.18%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 EPS. On average, analysts expect that Ciner Resources will post $1.79 EPS for the current fiscal year.
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Several research firms have weighed in on CINR. Citigroup Inc. restated a “neutral” rating and set a $25.00 price target (down from $29.00) on shares of Ciner Resources in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of Ciner Resources from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Finally, BidaskClub upgraded shares of Ciner Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.00.
About Ciner Resources
Ciner Resources LP, through its subsidiary, Ciner Wyoming LLC (Ciner Wyoming), produces soda ash and serves a global market from its facility in the Green River Basin of Wyoming. The Company processes trona ore into soda ash, a raw material in flat glass, container glass, detergents, chemicals, paper and other consumer and industrial products.
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