Brokerages Anticipate Hi-Crush Partners LP (HCLP) Will Post Quarterly Sales of $196.76 Million
Analysts expect that Hi-Crush Partners LP (NYSE:HCLP) will post $196.76 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Hi-Crush Partners’ earnings, with the highest sales estimate coming in at $206.91 million and the lowest estimate coming in at $179.26 million. Hi-Crush Partners posted sales of $67.30 million during the same quarter last year, which would indicate a positive year over year growth rate of 192.4%. The business is scheduled to report its next quarterly earnings report on Tuesday, February 20th.
According to Zacks, analysts expect that Hi-Crush Partners will report full year sales of $196.76 million for the current year, with estimates ranging from $565.43 million to $596.40 million. For the next financial year, analysts forecast that the business will report sales of $859.93 million per share, with estimates ranging from $807.06 million to $956.14 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Hi-Crush Partners.
Hi-Crush Partners (NYSE:HCLP) last issued its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). Hi-Crush Partners had a return on equity of 5.01% and a net margin of 7.09%. The business had revenue of $167.58 million for the quarter, compared to the consensus estimate of $168.95 million. During the same period last year, the firm earned ($0.21) earnings per share. The company’s quarterly revenue was up 259.9% compared to the same quarter last year.
HCLP has been the topic of several analyst reports. Jefferies Group LLC set a $15.00 price target on shares of Hi-Crush Partners and gave the stock a “buy” rating in a research report on Monday, August 28th. Cowen and Company restated a “buy” rating and set a $12.00 price objective on shares of Hi-Crush Partners in a research note on Sunday, September 17th. Credit Suisse Group lowered their price objective on shares of Hi-Crush Partners from $24.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday, July 20th. Zacks Investment Research lowered shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Finally, BidaskClub lowered shares of Hi-Crush Partners from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $16.60.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Strid Group LLC acquired a new position in Hi-Crush Partners in the 2nd quarter valued at about $109,000. S. Muoio & CO. LLC acquired a new position in Hi-Crush Partners in the 2nd quarter valued at about $111,000. Bank of New York Mellon Corp acquired a new position in Hi-Crush Partners in the 1st quarter valued at about $209,000. Pinnacle Associates Ltd. acquired a new position in Hi-Crush Partners in the 2nd quarter valued at about $157,000. Finally, Hodges Capital Management Inc. bought a new stake in Hi-Crush Partners in the 2nd quarter valued at about $163,000. Institutional investors and hedge funds own 49.69% of the company’s stock.
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Shares of Hi-Crush Partners (NYSE HCLP) opened at $10.10 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.29 and a current ratio of 1.77. Hi-Crush Partners has a 52-week low of $7.25 and a 52-week high of $23.30. The company has a market cap of $960.37, a PE ratio of 32.97 and a beta of 0.99.
Hi-Crush Partners declared that its Board of Directors has approved a share buyback plan on Tuesday, October 17th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.60 dividend on an annualized basis and a yield of 5.94%. Hi-Crush Partners’s dividend payout ratio (DPR) is currently 187.51%.
About Hi-Crush Partners
Hi-Crush Partners LP is an integrated producer, transporter, marketer and distributor of monocrystalline sand, a specialized mineral that is used as a proppant to manage the recovery rates of hydrocarbons from oil and natural gas wells. Its reserves consist of northern white sand, a resource in Wisconsin and limited portions of the upper Midwest region of the United States.
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