CNX Resources Corp (CNX) Expected to Announce Earnings of $0.14 Per Share

Brokerages predict that CNX Resources Corp (NYSE:CNX) will report $0.14 earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for CNX Resources’ earnings, with the highest EPS estimate coming in at $0.21 and the lowest estimate coming in at $0.09. CNX Resources reported earnings per share of $0.17 in the same quarter last year, which would suggest a negative year-over-year growth rate of 17.6%. The firm is scheduled to announce its next earnings report on Tuesday, May 1st.

On average, analysts expect that CNX Resources will report full-year earnings of $0.52 per share for the current financial year, with EPS estimates ranging from $0.32 to $0.90. For the next year, analysts forecast that the company will post earnings of $0.49 per share, with EPS estimates ranging from $0.29 to $0.99. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow CNX Resources.

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CNX Resources (NYSE:CNX) last released its earnings results on Tuesday, January 30th. The oil and gas producer reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $331.76 million. During the same quarter last year, the company earned ($1.33) earnings per share. CNX Resources’s quarterly revenue was up 19.0% compared to the same quarter last year.

A number of equities research analysts have commented on CNX shares. Zacks Investment Research raised CNX Resources from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 19th. ValuEngine cut CNX Resources from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Barclays set a $16.00 price target on CNX Resources and gave the company a “hold” rating in a research report on Tuesday, December 12th. Robert W. Baird assumed coverage on CNX Resources in a research report on Tuesday, December 19th. They issued an “outperform” rating and a $22.00 price target for the company. Finally, Tudor Pickering upgraded CNX Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. CNX Resources presently has an average rating of “Hold” and a consensus target price of $23.00.

CNX Resources stock traded down $0.65 during midday trading on Friday, reaching $14.95. The company’s stock had a trading volume of 5,310,264 shares, compared to its average volume of 4,000,991. CNX Resources has a fifty-two week low of $11.29 and a fifty-two week high of $18.08. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.91 and a current ratio of 1.93. The company has a market cap of $3,490.63, a P/E ratio of -93.44 and a beta of 1.25.

A number of institutional investors have recently bought and sold shares of CNX. Strategic Global Advisors LLC purchased a new stake in CNX Resources during the 3rd quarter worth about $172,000. TNB Financial purchased a new stake in CNX Resources during the 4th quarter worth about $176,000. State of Alaska Department of Revenue purchased a new stake in CNX Resources during the 4th quarter worth about $197,000. Jane Street Group LLC increased its position in CNX Resources by 411.2% during the 3rd quarter. Jane Street Group LLC now owns 12,170 shares of the oil and gas producer’s stock worth $206,000 after purchasing an additional 16,081 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in CNX Resources during the 4th quarter worth about $219,000. Hedge funds and other institutional investors own 95.50% of the company’s stock.

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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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Earnings History and Estimates for CNX Resources (NYSE:CNX)

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