Zacks: Analysts Expect CNX Resources Corp (CNX) to Announce $0.14 EPS
Equities research analysts expect CNX Resources Corp (NYSE:CNX) to post earnings of $0.14 per share for the current quarter, Zacks reports. Four analysts have made estimates for CNX Resources’ earnings, with the highest EPS estimate coming in at $0.20 and the lowest estimate coming in at $0.06. CNX Resources reported earnings of ($0.15) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 193.3%. The business is expected to announce its next earnings results on Tuesday, October 30th.
According to Zacks, analysts expect that CNX Resources will report full-year earnings of $0.78 per share for the current financial year, with EPS estimates ranging from $0.48 to $1.13. For the next financial year, analysts forecast that the firm will report earnings of $0.57 per share, with EPS estimates ranging from $0.33 to $0.76. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow CNX Resources.
CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, August 2nd. The oil and gas producer reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.21. The business had revenue of $402.12 million for the quarter, compared to analyst estimates of $381.22 million. CNX Resources had a return on equity of 2.37% and a net margin of 40.07%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 earnings per share.
Shares of CNX traded down $0.44 during trading hours on Wednesday, reaching $13.92. 3,265,800 shares of the company traded hands, compared to its average volume of 3,073,917. The company has a quick ratio of 0.65, a current ratio of 0.67 and a debt-to-equity ratio of 0.47. The firm has a market cap of $3.10 billion, a P/E ratio of -89.06 and a beta of 1.04. CNX Resources has a fifty-two week low of $11.69 and a fifty-two week high of $18.37.
In other news, Director J. Palmer Clarkson bought 10,000 shares of the stock in a transaction on Thursday, August 16th. The shares were purchased at an average price of $14.90 per share, for a total transaction of $149,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company’s stock.
A number of large investors have recently made changes to their positions in CNX. Matarin Capital Management LLC acquired a new position in CNX Resources in the 1st quarter valued at approximately $11,603,000. Stratos Wealth Partners LTD. bought a new stake in CNX Resources during the 1st quarter worth approximately $118,000. Dimensional Fund Advisors LP grew its position in CNX Resources by 27.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 14,937,828 shares of the oil and gas producer’s stock worth $230,491,000 after acquiring an additional 3,202,772 shares during the last quarter. Quantbot Technologies LP grew its position in CNX Resources by 140.1% during the 1st quarter. Quantbot Technologies LP now owns 68,549 shares of the oil and gas producer’s stock worth $1,057,000 after acquiring an additional 39,994 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in CNX Resources by 163.4% in the 1st quarter. Russell Investments Group Ltd. now owns 207,830 shares of the oil and gas producer’s stock valued at $3,196,000 after buying an additional 128,922 shares during the last quarter. Hedge funds and other institutional investors own 95.60% of the company’s stock.
CNX Resources Company Profile
CNX Resources Corporation, an independent oil and natural gas company, explores for, develops, and produces natural gas in the Appalachian Basin. As of December 31, 2017, it had 7.6 trillion cubic feet equivalent of proved natural gas reserves. The company also owns, operates, and develops natural gas gathering and other midstream energy assets in the Marcellus Shale in Pennsylvania and West Virginia.
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