Piper Jaffray Companies Comments on Hi-Crush Partners LP’s Q3 2020 Earnings (HCLP)

Hi-Crush Partners LP (NYSE:HCLP) – Stock analysts at Piper Jaffray Companies increased their Q3 2020 earnings per share (EPS) estimates for shares of Hi-Crush Partners in a research report issued on Monday, April 15th. Piper Jaffray Companies analyst J. Watson now expects that the basic materials company will earn $0.05 per share for the quarter, up from their prior forecast of $0.04. Piper Jaffray Companies also issued estimates for Hi-Crush Partners’ Q4 2020 earnings at $0.05 EPS.

Hi-Crush Partners (NYSE:HCLP) last posted its quarterly earnings results on Tuesday, February 5th. The basic materials company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.02). The business had revenue of $162.20 million for the quarter, compared to the consensus estimate of $145.45 million. Hi-Crush Partners had a return on equity of 17.49% and a net margin of 16.44%. The company’s quarterly revenue was down 24.2% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share.

HCLP has been the subject of a number of other reports. Jefferies Financial Group reissued a “sell” rating on shares of Hi-Crush Partners in a research note on Tuesday, April 2nd. B. Riley reissued a “neutral” rating and set a $6.50 price target (down from $10.00) on shares of Hi-Crush Partners in a research note on Tuesday, January 8th. Zacks Investment Research downgraded shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Cantor Fitzgerald downgraded shares of Hi-Crush Partners from a “neutral” rating to an “underweight” rating in a research note on Wednesday, December 19th. Finally, UBS Group set a $4.00 price target on shares of Hi-Crush Partners and gave the stock a “hold” rating in a research note on Monday, January 14th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $9.58.

HCLP opened at $4.22 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 1.85 and a debt-to-equity ratio of 0.55. The company has a market cap of $426.47 million, a P/E ratio of 2.83 and a beta of 1.97. Hi-Crush Partners has a fifty-two week low of $3.19 and a fifty-two week high of $16.65.

A number of large investors have recently modified their holdings of HCLP. CoreCommodity Management LLC bought a new stake in shares of Hi-Crush Partners during the fourth quarter worth $27,000. Sage Capital Advisors llc increased its position in shares of Hi-Crush Partners by 72.9% during the fourth quarter. Sage Capital Advisors llc now owns 8,062 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 3,400 shares in the last quarter. North Star Investment Management Corp. increased its position in shares of Hi-Crush Partners by 40.2% during the fourth quarter. North Star Investment Management Corp. now owns 11,500 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 3,300 shares in the last quarter. Lake Point Wealth Management bought a new stake in shares of Hi-Crush Partners during the fourth quarter worth $50,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Hi-Crush Partners during the fourth quarter worth $58,000. 8.33% of the stock is owned by hedge funds and other institutional investors.

About Hi-Crush Partners

Hi-Crush Partners LP, together with its subsidiaries, provides proppant and logistics solutions to the petroleum industry in North America. The company offers raw frac sand used in hydraulic fracturing process for oil and natural gas wells. It owns and operates multiple frac sand mining facilities, which include a 971-acre facility with integrated rail infrastructure located in Wyeville, Wisconsin; a 1,187-acre facility with integrated rail infrastructure located in Eau Claire County, Wisconsin; a 1,285-acre facility with integrated rail infrastructure located in Blair, Wisconsin; and a 1,626-acre facility with integrated rail infrastructure located in Independence, Wisconsin and Whitehall, Wisconsin.

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Earnings History and Estimates for Hi-Crush Partners (NYSE:HCLP)

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