Zacks: Analysts Anticipate CorEnergy Infrastructure Trust, Inc. (CORR) Will Announce Earnings of $1.07 Per Share
Equities analysts expect CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) to report $1.07 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for CorEnergy Infrastructure Trust’s earnings, with the highest EPS estimate coming in at $1.11 and the lowest estimate coming in at $1.03. CorEnergy Infrastructure Trust posted earnings per share of $0.68 during the same quarter last year, which would indicate a positive year-over-year growth rate of 57.4%. The business is expected to announce its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that CorEnergy Infrastructure Trust will report full year earnings of $4.30 per share for the current fiscal year, with EPS estimates ranging from $4.22 to $4.38. For the next financial year, analysts forecast that the business will post earnings of $4.26 per share, with EPS estimates ranging from $4.12 to $4.40. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover CorEnergy Infrastructure Trust.
Several brokerages have recently issued reports on CORR. BidaskClub raised CorEnergy Infrastructure Trust from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research cut CorEnergy Infrastructure Trust from a “buy” rating to a “hold” rating in a report on Monday, May 8th. ValuEngine raised CorEnergy Infrastructure Trust from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Bank of America Corporation cut CorEnergy Infrastructure Trust from a “neutral” rating to an “underperform” rating and set a $35.00 price objective on the stock. in a report on Monday, June 26th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $37.00 price objective (up from $30.00) on shares of CorEnergy Infrastructure Trust in a report on Wednesday, May 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $35.60.
Shares of CorEnergy Infrastructure Trust (NYSE CORR) traded up 1.61% during trading on Tuesday, hitting $33.54. 66,581 shares of the stock traded hands. CorEnergy Infrastructure Trust has a 1-year low of $23.21 and a 1-year high of $37.25. The company has a market cap of $399.19 million, a P/E ratio of 13.87 and a beta of 2.06. The stock has a 50-day moving average of $34.51 and a 200 day moving average of $34.72.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $3.00 annualized dividend and a dividend yield of 8.94%. CorEnergy Infrastructure Trust’s dividend payout ratio (DPR) is 124.48%.
COPYRIGHT VIOLATION WARNING: This story was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/08/27/zacks-analysts-anticipate-corenergy-infrastructure-trust-inc-corr-will-announce-earnings-of-1-07-per-share.html.
In related news, CEO David J. Schulte purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were bought at an average price of $32.89 per share, for a total transaction of $32,890.00. Following the acquisition, the chief executive officer now owns 21,010 shares of the company’s stock, valued at approximately $691,018.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.99% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in CorEnergy Infrastructure Trust by 9.0% in the second quarter. Vanguard Group Inc. now owns 611,713 shares of the asset manager’s stock valued at $20,548,000 after buying an additional 50,263 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in CorEnergy Infrastructure Trust by 9.0% in the first quarter. Goldman Sachs Group Inc. now owns 607,114 shares of the asset manager’s stock valued at $20,509,000 after buying an additional 49,994 shares during the last quarter. LSV Asset Management raised its stake in CorEnergy Infrastructure Trust by 12.8% in the first quarter. LSV Asset Management now owns 541,579 shares of the asset manager’s stock valued at $18,294,000 after buying an additional 61,508 shares during the last quarter. Renaissance Technologies LLC raised its stake in CorEnergy Infrastructure Trust by 31.3% in the second quarter. Renaissance Technologies LLC now owns 448,500 shares of the asset manager’s stock valued at $15,065,000 after buying an additional 107,000 shares during the last quarter. Finally, State Street Corp raised its stake in CorEnergy Infrastructure Trust by 5.3% in the second quarter. State Street Corp now owns 277,997 shares of the asset manager’s stock valued at $9,339,000 after buying an additional 14,110 shares during the last quarter. Institutional investors own 68.73% of the company’s stock.
About CorEnergy Infrastructure Trust
CorEnergy Infrastructure Trust, Inc (CorEnergy) is focused on acquiring and financing midstream and downstream real estate assets within the United States energy infrastructure sector and concurrently entering into long-term triple-net participating leases with energy companies. The Company also provides other types of capital, including loans secured by energy infrastructure assets.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for CorEnergy Infrastructure Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CorEnergy Infrastructure Trust Inc. and related stocks with our FREE daily email newsletter.