Core Natural Resources (NYSE:CNR) Issues Earnings Results, Beats Expectations By $1.91 EPS

Core Natural Resources (NYSE:CNR) issued its quarterly earnings results on Thursday. The energy company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $1.91, FiscalAI reports. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. Core Natural Resources had a return on equity of 0.03% and a net margin of 2.34%.

Core Natural Resources Price Performance

CNR traded down $0.21 during midday trading on Friday, reaching $89.77. 608,314 shares of the company’s stock were exchanged, compared to its average volume of 548,759. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 2,999.32 and a beta of 0.14. The company has a quick ratio of 1.21, a current ratio of 1.83 and a debt-to-equity ratio of 0.11. Core Natural Resources has a one year low of $68.78 and a one year high of $114.80. The business has a 50-day simple moving average of $84.87 and a two-hundred day simple moving average of $89.90.

Core Natural Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, August 31st. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. Core Natural Resources’s dividend payout ratio (DPR) is currently -32.79%.

Analyst Upgrades and Downgrades

A number of analysts have commented on CNR shares. B. Riley Financial reiterated a “buy” rating on shares of Core Natural Resources in a research report on Thursday, April 30th. Weiss Ratings cut Core Natural Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. Zacks Research upgraded Core Natural Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 24th. Wall Street Zen raised Core Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, UBS Group decreased their price target on shares of Core Natural Resources from $107.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $112.50.

Institutional Investors Weigh In On Core Natural Resources

Several large investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust lifted its holdings in Core Natural Resources by 155.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,134 shares of the energy company’s stock valued at $100,000 after purchasing an additional 690 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Core Natural Resources by 34.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,633 shares of the energy company’s stock worth $145,000 after buying an additional 414 shares during the last quarter. Cerity Partners LLC bought a new stake in Core Natural Resources during the fourth quarter worth about $235,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Core Natural Resources during the third quarter worth approximately $118,000. Finally, Resources Management Corp CT ADV increased its holdings in shares of Core Natural Resources by 190.6% during the second quarter. Resources Management Corp CT ADV now owns 3,310 shares of the energy company’s stock worth $231,000 after buying an additional 2,171 shares in the last quarter. 86.54% of the stock is currently owned by institutional investors.

About Core Natural Resources

Core Natural Resources, Inc, together with its subsidiaries, produces and sells bituminous coal in the United States and internationally. It operates through two segments, Pennsylvania Mining Complex (PAMC) and CONSOL Marine Terminal. The company’s PAMC segment engages in the mining, preparing, and marketing of bituminous coal to power generators, industrial end-users, and metallurgical end-users. This segment includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine, and the central preparation plant.