Consol Energy Inc (NYSE:CEIX) – Seaport Global Securities boosted their FY2019 earnings per share estimates for Consol Energy in a research note issued on Monday, October 15th. Seaport Global Securities analyst M. Levin now expects that the company will post earnings of $4.32 per share for the year, up from their prior forecast of $3.56. Seaport Global Securities currently has a “Buy” rating and a $52.00 price target on the stock. Seaport Global Securities also issued estimates for Consol Energy’s FY2020 earnings at $3.05 EPS.
Several other brokerages also recently weighed in on CEIX. Zacks Investment Research downgraded Consol Energy from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. B. Riley upped their target price on Consol Energy from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, July 10th. Finally, Stifel Nicolaus started coverage on Consol Energy in a research note on Wednesday, June 27th. They set a “hold” rating and a $40.00 target price for the company. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.00.
Consol Energy (NYSE:CEIX) last announced its earnings results on Thursday, August 2nd. The company reported $1.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.16. The business had revenue of $370.70 million during the quarter, compared to the consensus estimate of $413.40 million. Consol Energy had a return on equity of 28.97% and a net margin of 5.70%. Consol Energy’s revenue was up 22.1% on a year-over-year basis.
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Consol Energy by 37.0% during the 2nd quarter. BlackRock Inc. now owns 3,733,884 shares of the company’s stock worth $143,194,000 after buying an additional 1,008,965 shares during the period. Sei Investments Co. raised its stake in Consol Energy by 493.8% in the 2nd quarter. Sei Investments Co. now owns 27,717 shares of the company’s stock valued at $1,063,000 after purchasing an additional 23,049 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Consol Energy in the 2nd quarter valued at $543,000. Schwab Charles Investment Management Inc. raised its stake in Consol Energy by 96.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 172,332 shares of the company’s stock valued at $6,609,000 after purchasing an additional 84,478 shares during the last quarter. Finally, Richard Bernstein Advisors LLC acquired a new position in Consol Energy in the 2nd quarter valued at $2,888,000. 88.27% of the stock is owned by institutional investors and hedge funds.
About Consol Energy
CONSOL Energy Inc produces and exports bituminous thermal and crossover metallurgical coal. The company owns and operates its mining operations in the Northern Appalachian Basin. Its flagship operation is the Pennsylvania Mining Complex (PAMC), which comprises three underground mines, including Bailey, Enlow Fork, and Harvey.
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