Consol Energy Upgraded by Goldman Sachs Group Inc. to “Buy” (CNX)
Consol Energy (NYSE:CNX) was upgraded by analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $43.00 target price on the stock, up from their previous target price of $35.00. Goldman Sachs Group Inc.’s price target points to a potential upside of 27.33% from the company’s current price.
The analysts wrote, “We upgrade Consol Energy (CNX) from Neutral to Buy given (1) improving cash flow from the coal segment, (2) strong production growth from the E&P segment, driven by higher volumes from its low-cost Marcellus Shale position, (3) potential for asset sales and restructuring that can help investors recognize the SOTP value and (4) a strong financial profile, with industry-leading EBITDA growth and solid leverage metrics.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Macquarie initiated coverage on shares of Consol Energy (NYSE:CNX) in a research note to investors on Friday, September 6th. They set an “outperform” rating on the stock. Separately, analysts at Zacks upgraded shares of Consol Energy (NYSE:CNX) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, August 20th. They now have a $32.00 price target on the stock. Finally, analysts at Howard Weil raised their price target on shares of Consol Energy (NYSE:CNX) from $39.00 to $43.00 in a research note to investors on Wednesday, July 31st. They now have a “sector outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. Consol Energy has a consensus rating of “Buy” and a consensus price target of $41.90.
Consol Energy (NYSE:CNX) traded down 0.16% on Friday, hitting $33.715. 733,544 shares of the company’s stock traded hands. Consol Energy has a 1-year low of $26.25 and a 1-year high of $37.39. The stock has a 50-day moving average of $32.9 and a 200-day moving average of $32.32. The company has a market cap of $7.716 billion and a price-to-earnings ratio of 61.96.
Consol Energy (NYSE:CNX) last issued its quarterly earnings data on Thursday, July 25th. The company reported ($0.03) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.17 by $0.20. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the company posted $0.67 earnings per share. The company’s quarterly revenue was down 16.3% on a year-over-year basis. Analysts expect that Consol Energy will post $0.38 EPS for the current fiscal year.
CONSOL Energy Inc (NYSE:CNX) is a producer of coal and natural gas for global energy and raw material markets, which include the electric power generation industry and the steelmaking industry.
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