Equities analysts expect CNX Resources Corp (NYSE:CNX) to report $421.21 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for CNX Resources’ earnings. The lowest sales estimate is $359.00 million and the highest is $460.64 million. CNX Resources posted sales of $698.71 million during the same quarter last year, which suggests a negative year-over-year growth rate of 39.7%. The company is expected to issue its next quarterly earnings report on Tuesday, May 1st.
On average, analysts expect that CNX Resources will report full-year sales of $421.21 million for the current year, with estimates ranging from $1.56 billion to $1.86 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.84 billion per share, with estimates ranging from $1.73 billion to $1.95 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow CNX Resources.
CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Tuesday, January 30th. The oil and gas producer reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. CNX Resources had a return on equity of 1.36% and a net margin of 14.03%. The company had revenue of $333.30 million for the quarter, compared to analyst estimates of $331.76 million. During the same quarter last year, the firm earned ($1.33) EPS. CNX Resources’s revenue for the quarter was up 19.0% compared to the same quarter last year.
Shares of CNX Resources (CNX) traded up $0.45 during trading hours on Tuesday, hitting $15.43. The stock had a trading volume of 945,253 shares, compared to its average volume of 3,734,756. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.93 and a quick ratio of 1.91. The firm has a market cap of $3,349.66, a price-to-earnings ratio of 9.30 and a beta of 1.49. CNX Resources has a one year low of $11.29 and a one year high of $15.61.
CNX Resources announced that its board has authorized a share repurchase program on Tuesday, October 31st that permits the company to buyback $369.00 million in shares. This buyback authorization permits the oil and gas producer to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Several hedge funds have recently added to or reduced their stakes in the company. Delek Group Ltd. bought a new stake in shares of CNX Resources during the fourth quarter worth $2,922,000. CapWealth Advisors LLC raised its position in shares of CNX Resources by 28.1% during the fourth quarter. CapWealth Advisors LLC now owns 278,415 shares of the oil and gas producer’s stock worth $4,073,000 after acquiring an additional 61,115 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of CNX Resources during the fourth quarter worth $1,917,000. Jane Street Group LLC raised its position in shares of CNX Resources by 39.1% during the fourth quarter. Jane Street Group LLC now owns 16,923 shares of the oil and gas producer’s stock worth $248,000 after acquiring an additional 4,753 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of CNX Resources by 27.8% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 41,835 shares of the oil and gas producer’s stock worth $612,000 after acquiring an additional 9,100 shares during the last quarter. Institutional investors own 96.83% of the company’s stock.
CNX Resources Company Profile
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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