Consol Energy (CEIX) Announces Earnings Results

Consol Energy (NYSE:CEIX) posted its quarterly earnings data on Thursday. The company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.33), MarketWatch Earnings reports. Consol Energy had a net margin of 5.70% and a return on equity of 28.97%. The firm had revenue of $295.00 million for the quarter, compared to the consensus estimate of $338.77 million. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year.

CEIX stock traded down $2.20 during mid-day trading on Thursday, reaching $37.64. 1,093,525 shares of the stock traded hands, compared to its average volume of 427,669. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 1.87. Consol Energy has a one year low of $19.51 and a one year high of $48.12. The stock has a market capitalization of $1.09 billion and a price-to-earnings ratio of 8.36.

A number of hedge funds have recently bought and sold shares of CEIX. Meeder Asset Management Inc. grew its holdings in shares of Consol Energy by 246.0% in the second quarter. Meeder Asset Management Inc. now owns 2,889 shares of the company’s stock worth $111,000 after purchasing an additional 2,054 shares during the last quarter. Pinebridge Investments L.P. bought a new position in shares of Consol Energy in the second quarter worth about $187,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Consol Energy in the second quarter worth about $205,000. NumerixS Investment Technologies Inc grew its holdings in shares of Consol Energy by 1,275.0% in the second quarter. NumerixS Investment Technologies Inc now owns 5,500 shares of the company’s stock worth $211,000 after purchasing an additional 5,100 shares during the last quarter. Finally, Monetary Management Group Inc. bought a new position in shares of Consol Energy in the second quarter worth about $221,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

A number of research firms have weighed in on CEIX. Seaport Global Securities reiterated a “buy” rating and set a $52.00 price objective on shares of Consol Energy in a research report on Thursday, August 2nd. Zacks Investment Research cut shares of Consol Energy from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Finally, B. Riley boosted their price objective on shares of Consol Energy from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 10th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $46.00.

About Consol Energy

CONSOL Energy Inc produces and exports bituminous thermal and crossover metallurgical coal. The company owns and operates its mining operations in the Northern Appalachian Basin. Its flagship operation is the Pennsylvania Mining Complex (PAMC), which comprises three underground mines, including Bailey, Enlow Fork, and Harvey.

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