Ciner Resources LP (CINR) Expected to Announce Quarterly Sales of $130.30 Million
Analysts forecast that Ciner Resources LP (NYSE:CINR) will post sales of $130.30 million for the current quarter, Zacks reports. Two analysts have provided estimates for Ciner Resources’ earnings, with the highest sales estimate coming in at $137.00 million and the lowest estimate coming in at $123.60 million. Ciner Resources reported sales of $122.50 million in the same quarter last year, which would suggest a positive year over year growth rate of 6.4%. The firm is expected to report its next quarterly earnings report on Monday, November 5th.
According to Zacks, analysts expect that Ciner Resources will report full year sales of $494.75 million for the current year, with estimates ranging from $484.50 million to $505.00 million. For the next financial year, analysts forecast that the firm will post sales of $516.90 million per share, with estimates ranging from $501.80 million to $532.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Ciner Resources.
Ciner Resources (NYSE:CINR) last issued its quarterly earnings data on Monday, August 6th. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.26. The business had revenue of $109.90 million for the quarter, compared to analysts’ expectations of $123.65 million. Ciner Resources had a return on equity of 19.95% and a net margin of 10.25%.
Shares of CINR traded down $0.15 during mid-day trading on Friday, hitting $27.30. 1,700 shares of the stock were exchanged, compared to its average volume of 13,052. The stock has a market capitalization of $535.67 million, a price-to-earnings ratio of 13.31 and a beta of 0.88. Ciner Resources has a 52-week low of $23.76 and a 52-week high of $29.36. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.97 and a quick ratio of 2.64.
The business also recently announced a quarterly dividend, which was paid on Monday, August 20th. Stockholders of record on Monday, August 6th were given a dividend of $0.567 per share. This represents a $2.27 annualized dividend and a dividend yield of 8.31%. The ex-dividend date was Friday, August 3rd. Ciner Resources’s dividend payout ratio is currently 109.66%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in shares of Ciner Resources by 110.0% during the 2nd quarter. Bank of America Corp DE now owns 4,200 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 2,200 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Ciner Resources during the 1st quarter valued at approximately $215,000. Renaissance Technologies LLC increased its position in shares of Ciner Resources by 27.8% during the 4th quarter. Renaissance Technologies LLC now owns 11,500 shares of the basic materials company’s stock valued at $289,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Western Standard LLC increased its position in shares of Ciner Resources by 23.6% during the 2nd quarter. Western Standard LLC now owns 58,244 shares of the basic materials company’s stock valued at $1,531,000 after purchasing an additional 11,133 shares during the last quarter. 10.06% of the stock is currently owned by hedge funds and other institutional investors.
About Ciner Resources
Ciner Resources LP engages in the trona ore mining and soda ash production businesses in the United States and internationally. It processes trona ore into soda ash, which is a raw material in flat glass, container glass, detergents, chemicals, paper, and other consumer and industrial products. The company has approximately 23,500 acres of leased and licensed subsurface mining areas in the Green River Basin of Wyoming.
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