CNX Resources Corp (NYSE:CNX) – Analysts at SunTrust Banks upped their FY2017 earnings per share estimates for shares of CNX Resources in a research report issued on Sunday, Zacks Investment Research reports. SunTrust Banks analyst W. Fitzpatrick now forecasts that the oil and gas producer will earn $0.63 per share for the year, up from their prior forecast of $0.60. SunTrust Banks has a “Buy” rating on the stock. SunTrust Banks also issued estimates for CNX Resources’ Q4 2017 earnings at $0.45 EPS, Q1 2018 earnings at $0.05 EPS, Q3 2018 earnings at $0.02 EPS and FY2018 earnings at $0.08 EPS.
Other equities analysts have also issued reports about the stock. Stifel Nicolaus reissued a “buy” rating and set a $24.00 price target on shares of CNX Resources in a research report on Friday, October 13th. Jefferies Group reissued a “buy” rating and set a $20.00 price target on shares of CNX Resources in a research report on Tuesday, October 10th. Seaport Global Securities initiated coverage on shares of CNX Resources in a research report on Thursday, November 30th. They set a “buy” rating and a $32.00 price target for the company. B. Riley initiated coverage on shares of CNX Resources in a research report on Tuesday, November 21st. They set a “buy” rating and a $32.00 price target for the company. Finally, Barclays set a $16.00 price target on shares of CNX Resources and gave the stock a “hold” rating in a research report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. CNX Resources currently has a consensus rating of “Hold” and a consensus target price of $22.91.
CNX Resources (CNX) traded up $0.33 on Tuesday, reaching $15.04. 1,883,807 shares of the company’s stock were exchanged, compared to its average volume of 2,495,888. CNX Resources has a 12 month low of $11.29 and a 12 month high of $16.47. The company has a quick ratio of 0.86, a current ratio of 0.94 and a debt-to-equity ratio of 0.62. The stock has a market cap of $3,490.00, a price-to-earnings ratio of -15.51 and a beta of 1.52.
CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Tuesday, October 31st. The oil and gas producer reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.14). CNX Resources had a positive return on equity of 1.09% and a negative net margin of 7.49%. The business had revenue of $671.30 million for the quarter, compared to analysts’ expectations of $623.00 million. During the same period in the prior year, the business posted $0.04 earnings per share. The business’s quarterly revenue was down 10.0% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Dalton Greiner Hartman Maher & Co. acquired a new stake in CNX Resources in the 4th quarter valued at $18,183,000. Public Employees Retirement System of Ohio grew its stake in CNX Resources by 140.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 243,488 shares of the oil and gas producer’s stock valued at $4,125,000 after acquiring an additional 142,129 shares during the period. California Public Employees Retirement System grew its stake in CNX Resources by 2.2% in the 3rd quarter. California Public Employees Retirement System now owns 628,546 shares of the oil and gas producer’s stock valued at $10,648,000 after acquiring an additional 13,700 shares during the period. Janney Montgomery Scott LLC grew its stake in CNX Resources by 22.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 36,821 shares of the oil and gas producer’s stock valued at $624,000 after acquiring an additional 6,786 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in CNX Resources by 147.1% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 44,262 shares of the oil and gas producer’s stock valued at $750,000 after acquiring an additional 26,346 shares during the period. 99.29% of the stock is currently owned by institutional investors and hedge funds.
CNX Resources announced that its board has initiated a share repurchase plan on Tuesday, October 31st that authorizes the company to repurchase $369.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas producer to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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About CNX Resources
CNX Resources Corp., formerly CONSOL Energy Inc, is an integrated energy company. The Company’s divisions include Exploration and Production (E&P), Pennsylvania (PA) Mining Operations and Other. The E&P division operates through four segments: Marcellus Shale, Utica Shale, Coalbed Methane (CBM) and Other Gas, which produce pipeline quality natural gas for sale primarily to gas wholesalers.
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