Analysts forecast that CNX Resources Corp (NYSE:CNX) will announce earnings per share (EPS) of ($0.09) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for CNX Resources’ earnings, with estimates ranging from ($0.17) to $0.12. CNX Resources reported earnings of $0.17 per share in the same quarter last year, which indicates a negative year over year growth rate of 152.9%. The business is expected to issue its next quarterly earnings report before the market opens on Tuesday, October 29th.
According to Zacks, analysts expect that CNX Resources will report full year earnings of $0.54 per share for the current fiscal year, with EPS estimates ranging from $0.08 to $0.96. For the next financial year, analysts anticipate that the firm will post earnings of $0.08 per share, with EPS estimates ranging from ($0.30) to $0.71. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow CNX Resources.
CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.06). CNX Resources had a net margin of 17.60% and a return on equity of 4.09%. The business had revenue of $605.03 million for the quarter, compared to analysts’ expectations of $357.30 million. During the same period in the prior year, the company posted $0.33 EPS. The firm’s revenue was up 50.5% on a year-over-year basis.
CNX has been the subject of several research reports. KeyCorp initiated coverage on shares of CNX Resources in a research note on Wednesday, October 9th. They set a “sector weight” rating and a $7.11 price objective for the company. Zacks Investment Research raised shares of CNX Resources from a “sell” rating to a “hold” rating and set a $9.00 price objective for the company in a research note on Thursday, August 1st. Finally, ValuEngine raised shares of CNX Resources from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. CNX Resources presently has a consensus rating of “Hold” and a consensus target price of $12.22.
In other CNX Resources news, Director Bernard Lanigan, Jr. acquired 200,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was bought at an average price of $6.39 per share, with a total value of $1,278,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.40% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Morgan Stanley grew its stake in shares of CNX Resources by 0.7% in the 2nd quarter. Morgan Stanley now owns 222,751 shares of the oil and gas producer’s stock valued at $1,629,000 after buying an additional 1,508 shares during the period. Royal Bank of Canada grew its stake in shares of CNX Resources by 7.4% in the 2nd quarter. Royal Bank of Canada now owns 22,999 shares of the oil and gas producer’s stock valued at $167,000 after buying an additional 1,579 shares during the period. Weiss Asset Management LP grew its stake in shares of CNX Resources by 17.2% in the 1st quarter. Weiss Asset Management LP now owns 14,540 shares of the oil and gas producer’s stock valued at $157,000 after buying an additional 2,129 shares during the period. LPL Financial LLC grew its stake in shares of CNX Resources by 4.6% in the 2nd quarter. LPL Financial LLC now owns 67,036 shares of the oil and gas producer’s stock valued at $490,000 after buying an additional 2,950 shares during the period. Finally, Campbell & CO Investment Adviser LLC grew its stake in shares of CNX Resources by 27.7% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 14,604 shares of the oil and gas producer’s stock valued at $157,000 after buying an additional 3,166 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.
NYSE CNX traded down $0.12 during trading hours on Wednesday, hitting $7.16. 1,938,908 shares of the company’s stock traded hands, compared to its average volume of 4,379,680. CNX Resources has a 52-week low of $6.14 and a 52-week high of $16.09. The company has a market capitalization of $1.34 billion, a PE ratio of 4.68 and a beta of 0.64. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.74 and a quick ratio of 0.72. The firm’s 50-day moving average is $7.73 and its 200-day moving average is $8.16.
CNX Resources Company Profile
CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.
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