CNX Resources Corp (NYSE:CNX) Expected to Announce Earnings of $0.11 Per Share
Wall Street brokerages expect that CNX Resources Corp (NYSE:CNX) will announce earnings of $0.11 per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for CNX Resources’ earnings. The highest EPS estimate is $0.24 and the lowest is ($0.13). CNX Resources reported earnings of $0.42 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 73.8%. The company is scheduled to report its next earnings results before the market opens on Tuesday, July 30th.
On average, analysts expect that CNX Resources will report full-year earnings of $0.63 per share for the current financial year, with EPS estimates ranging from $0.00 to $1.06. For the next year, analysts expect that the business will post earnings of $0.32 per share, with EPS estimates ranging from ($0.47) to $0.81. Zacks’ EPS calculations are an average based on a survey of analysts that follow CNX Resources.
CNX Resources (NYSE:CNX) last posted its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.14 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.07). CNX Resources had a net margin of 12.00% and a return on equity of 5.66%. The firm had revenue of $278.40 million during the quarter, compared to the consensus estimate of $408.29 million. During the same quarter in the prior year, the business posted $0.19 earnings per share. CNX Resources’s revenue for the quarter was down 43.8% compared to the same quarter last year.
Shares of CNX traded down $0.09 during mid-day trading on Wednesday, reaching $7.31. 54,448 shares of the company were exchanged, compared to its average volume of 4,909,743. CNX Resources has a 52 week low of $6.78 and a 52 week high of $17.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.62 and a quick ratio of 0.59. The company has a market capitalization of $1.45 billion, a PE ratio of 4.78 and a beta of 0.71. The stock has a 50 day simple moving average of $7.39.
In related news, Director J. Palmer Clarkson acquired 10,000 shares of the stock in a transaction dated Monday, June 10th. The stock was bought at an average cost of $7.50 per share, for a total transaction of $75,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bernard Lanigan, Jr. acquired 35,400 shares of the stock in a transaction dated Wednesday, June 12th. The shares were bought at an average price of $7.06 per share, with a total value of $249,924.00. The disclosure for this purchase can be found here. Insiders have bought 297,550 shares of company stock valued at $2,211,382 over the last 90 days. 2.40% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Glassman Wealth Services bought a new position in shares of CNX Resources during the first quarter worth about $48,000. Investors Research Corp bought a new stake in CNX Resources in the first quarter worth approximately $57,000. Pearl River Capital LLC increased its holdings in CNX Resources by 1,047.6% in the first quarter. Pearl River Capital LLC now owns 5,738 shares of the oil and gas producer’s stock worth $62,000 after purchasing an additional 5,238 shares in the last quarter. Macquarie Group Ltd. increased its holdings in CNX Resources by 869.5% in the fourth quarter. Macquarie Group Ltd. now owns 7,756 shares of the oil and gas producer’s stock worth $89,000 after purchasing an additional 6,956 shares in the last quarter. Finally, Water Island Capital LLC bought a new stake in CNX Resources in the first quarter worth approximately $102,000. Institutional investors own 95.94% of the company’s stock.
About CNX Resources
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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