Equities research analysts predict that CNX Resources (NYSE:CNX) will report $383.85 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for CNX Resources’ earnings, with the highest sales estimate coming in at $431.00 million and the lowest estimate coming in at $359.00 million. CNX Resources posted sales of $698.71 million in the same quarter last year, which suggests a negative year over year growth rate of 45.1%. The business is scheduled to announce its next quarterly earnings results before the market opens on Thursday, May 3rd.
According to Zacks, analysts expect that CNX Resources will report full year sales of $1.63 billion for the current year, with estimates ranging from $1.54 billion to $1.78 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.77 billion per share, with estimates ranging from $1.68 billion to $1.90 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover CNX Resources.
CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Tuesday, January 30th. The oil and gas producer reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. CNX Resources had a net margin of 14.03% and a return on equity of 1.36%. The business had revenue of $333.30 million during the quarter, compared to analysts’ expectations of $331.76 million. During the same period last year, the business earned ($1.33) earnings per share. The business’s revenue for the quarter was up 19.0% on a year-over-year basis.
A number of equities research analysts have weighed in on CNX shares. ValuEngine cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Zacks Investment Research cut shares of CNX Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 27th. Tudor Pickering upgraded shares of CNX Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, February 27th. Finally, Robert W. Baird lifted their price objective on shares of CNX Resources from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $23.00.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in CNX Resources by 1.7% in the fourth quarter. BlackRock Inc. now owns 17,152,984 shares of the oil and gas producer’s stock worth $250,947,000 after acquiring an additional 284,261 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its stake in CNX Resources by 42.9% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 4,384,926 shares of the oil and gas producer’s stock worth $64,151,000 after acquiring an additional 1,316,915 shares during the last quarter. Bank of Montreal Can lifted its stake in CNX Resources by 23.9% in the fourth quarter. Bank of Montreal Can now owns 1,936,781 shares of the oil and gas producer’s stock worth $28,336,000 after acquiring an additional 373,330 shares during the last quarter. Geode Capital Management LLC lifted its stake in CNX Resources by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 1,787,243 shares of the oil and gas producer’s stock worth $26,146,000 after acquiring an additional 77,280 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. purchased a new position in CNX Resources in the fourth quarter worth approximately $18,183,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.
Shares of CNX traded down $0.48 during trading on Thursday, reaching $15.64. 2,793,357 shares of the company traded hands, compared to its average volume of 2,763,786. CNX Resources has a twelve month low of $11.29 and a twelve month high of $18.08. The stock has a market cap of $3,499.58, a PE ratio of -97.75 and a beta of 1.25. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.93 and a quick ratio of 1.91.
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CNX Resources Company Profile
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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