Zacks: Analysts Anticipate CNX Resources Corp (NYSE:CNX) Will Announce Earnings of -$0.09 Per Share
Analysts predict that CNX Resources Corp (NYSE:CNX) will announce ($0.09) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have made estimates for CNX Resources’ earnings. The lowest EPS estimate is ($0.17) and the highest is $0.12. CNX Resources posted earnings of $0.17 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 152.9%. The firm is expected to report its next earnings results before the market opens on Tuesday, October 29th.
On average, analysts expect that CNX Resources will report full-year earnings of $0.54 per share for the current year, with EPS estimates ranging from $0.08 to $0.96. For the next fiscal year, analysts expect that the business will report earnings of $0.08 per share, with EPS estimates ranging from ($0.30) to $0.71. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover CNX Resources.
CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.06). The firm had revenue of $605.03 million during the quarter, compared to analyst estimates of $357.30 million. CNX Resources had a return on equity of 4.09% and a net margin of 17.60%. The business’s revenue was up 50.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 earnings per share.
In related news, Director Bernard Lanigan, Jr. acquired 200,000 shares of the stock in a transaction on Friday, July 26th. The shares were bought at an average price of $6.39 per share, with a total value of $1,278,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC raised its position in CNX Resources by 386.5% in the second quarter. Signaturefd LLC now owns 6,641 shares of the oil and gas producer’s stock valued at $49,000 after purchasing an additional 5,276 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in CNX Resources in the first quarter valued at $168,000. Magnus Financial Group LLC purchased a new stake in CNX Resources in the second quarter valued at $84,000. Tower Research Capital LLC TRC raised its position in CNX Resources by 11,406.0% in the second quarter. Tower Research Capital LLC TRC now owns 11,506 shares of the oil and gas producer’s stock valued at $84,000 after purchasing an additional 11,406 shares during the period. Finally, Weiss Asset Management LP raised its position in CNX Resources by 17.2% in the first quarter. Weiss Asset Management LP now owns 14,540 shares of the oil and gas producer’s stock valued at $157,000 after purchasing an additional 2,129 shares during the period. 95.90% of the stock is currently owned by institutional investors.
Shares of NYSE:CNX traded down $0.03 during trading on Wednesday, reaching $7.34. The stock had a trading volume of 1,470,690 shares, compared to its average volume of 4,136,470. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.72 and a current ratio of 0.74. The business has a fifty day moving average price of $7.70 and a 200-day moving average price of $8.08. The stock has a market cap of $1.37 billion, a PE ratio of 4.80 and a beta of 0.64. CNX Resources has a 1-year low of $6.14 and a 1-year high of $16.09.
CNX Resources Company Profile
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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