Zacks: Brokerages Expect CNX Resources Corp (CNX) to Post $0.13 EPS
Analysts expect CNX Resources Corp (NYSE:CNX) to announce earnings of $0.13 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for CNX Resources’ earnings. The lowest EPS estimate is $0.09 and the highest is $0.18. CNX Resources reported earnings per share of $0.17 during the same quarter last year, which would suggest a negative year over year growth rate of 23.5%. The business is scheduled to issue its next earnings results on Tuesday, May 1st.
On average, analysts expect that CNX Resources will report full-year earnings of $0.29 per share for the current fiscal year, with EPS estimates ranging from $0.04 to $0.46. For the next financial year, analysts anticipate that the company will report earnings of $0.21 per share, with EPS estimates ranging from ($0.11) to $0.60. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for CNX Resources.
CNX Resources (NYSE:CNX) last released its quarterly earnings data on Tuesday, January 30th. The oil and gas producer reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. The business had revenue of $333.30 million for the quarter, compared to analyst estimates of $331.76 million. CNX Resources had a return on equity of 1.36% and a net margin of 14.03%. The company’s revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.33) EPS.
A number of hedge funds have recently bought and sold shares of CNX. Strategic Global Advisors LLC purchased a new stake in CNX Resources during the 3rd quarter worth approximately $172,000. TNB Financial purchased a new stake in CNX Resources during the 4th quarter worth approximately $176,000. Virtu KCG Holdings LLC purchased a new stake in CNX Resources during the 2nd quarter worth approximately $179,000. Emerald Advisers Inc. PA purchased a new stake in CNX Resources during the 3rd quarter worth approximately $192,000. Finally, State of Alaska Department of Revenue purchased a new stake in CNX Resources during the 4th quarter worth approximately $197,000. Institutional investors own 96.83% of the company’s stock.
CNX Resources (NYSE:CNX) traded up $0.31 during trading on Thursday, reaching $13.34. The company had a trading volume of 4,090,000 shares, compared to its average volume of 3,720,000. The firm has a market cap of $2,980.00, a price-to-earnings ratio of 7.94 and a beta of 1.49. The company has a quick ratio of 1.91, a current ratio of 1.93 and a debt-to-equity ratio of 0.57. CNX Resources has a 12-month low of $11.35 and a 12-month high of $15.51.
CNX Resources announced that its board has initiated a stock repurchase program on Tuesday, October 31st that allows the company to buyback $369.00 million in outstanding shares. This buyback authorization allows the oil and gas producer to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
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About CNX Resources
CNX Resources Corp., formerly CONSOL Energy Inc, is an integrated energy company. The Company’s divisions include Exploration and Production (E&P), Pennsylvania (PA) Mining Operations and Other. The E&P division operates through four segments: Marcellus Shale, Utica Shale, Coalbed Methane (CBM) and Other Gas, which produce pipeline quality natural gas for sale primarily to gas wholesalers.
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