CNX Resources Corp (CNX) Expected to Post Earnings of $0.28 Per Share

Brokerages expect CNX Resources Corp (NYSE:CNX) to post earnings per share of $0.28 for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for CNX Resources’ earnings. The highest EPS estimate is $0.32 and the lowest is $0.20. CNX Resources posted earnings per share of $0.19 during the same quarter last year, which suggests a positive year-over-year growth rate of 47.4%. The company is expected to announce its next earnings results on Thursday, May 2nd.

According to Zacks, analysts expect that CNX Resources will report full-year earnings of $0.61 per share for the current fiscal year, with EPS estimates ranging from $0.31 to $0.87. For the next year, analysts anticipate that the firm will post earnings of $0.42 per share, with EPS estimates ranging from ($0.21) to $0.73. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for CNX Resources.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, January 31st. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.39. CNX Resources had a return on equity of 5.91% and a net margin of 46.03%. The company had revenue of $435.46 million during the quarter, compared to analysts’ expectations of $436.26 million. During the same period last year, the firm posted ($0.23) earnings per share.

Several analysts recently weighed in on the company. MKM Partners assumed coverage on CNX Resources in a report on Wednesday, December 5th. They set a “buy” rating and a $19.00 price target for the company. Zacks Investment Research raised CNX Resources from a “hold” rating to a “strong-buy” rating and set a $13.00 price target for the company in a report on Wednesday, January 2nd. ValuEngine raised CNX Resources from a “strong sell” rating to a “sell” rating in a report on Monday, January 7th. TheStreet cut CNX Resources from a “b-” rating to a “c+” rating in a report on Wednesday, March 6th. Finally, Susquehanna Bancshares set a $11.00 price target on CNX Resources and gave the stock a “hold” rating in a report on Saturday, February 2nd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. CNX Resources presently has an average rating of “Hold” and an average price target of $15.00.

CNX opened at $10.61 on Friday. CNX Resources has a 12-month low of $9.58 and a 12-month high of $18.37. The company has a market capitalization of $2.14 billion, a PE ratio of 7.46 and a beta of 0.79. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.47.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in CNX Resources by 3.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,232,922 shares of the oil and gas producer’s stock valued at $46,263,000 after acquiring an additional 103,196 shares in the last quarter. Morgan Stanley raised its holdings in CNX Resources by 97.0% in the 3rd quarter. Morgan Stanley now owns 1,623,046 shares of the oil and gas producer’s stock valued at $23,225,000 after acquiring an additional 799,145 shares in the last quarter. Quantamental Technologies LLC acquired a new position in CNX Resources in the 4th quarter valued at $175,000. Paloma Partners Management Co raised its holdings in CNX Resources by 105.5% in the 3rd quarter. Paloma Partners Management Co now owns 585,527 shares of the oil and gas producer’s stock valued at $8,379,000 after acquiring an additional 300,612 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in CNX Resources by 4.9% in the 4th quarter. Prudential Financial Inc. now owns 2,300,835 shares of the oil and gas producer’s stock valued at $26,275,000 after acquiring an additional 107,412 shares in the last quarter. 99.18% of the stock is owned by hedge funds and other institutional investors.

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

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