Consol Energy Receives Buy Rating from Deutsche Bank (CNX)
Consol Energy (NYSE:CNX)‘s stock had its “buy” rating restated by Deutsche Bank in a research note issued on Monday, AR Network reports. They currently have a $45.00 target price on the stock, up from their previous target price of $38.00. Deutsche Bank’s target price points to a potential upside of 17.89% from the stock’s previous close.
The analysts wrote, “Recent CNX comments have gone well beyond the ‘our shares are undervalued’ & indicate that CNX is reviewing (midstream) MLP options, the current coal-gas structure and other asset options. Also, the company indicated that meaningful news may be forthcoming as soon as its 3Q report. Coal asset sales are being considered (according to trade reports), but much of value accretion exists outside of coal mining where resource expansion is underway (Marcellus & Utica) and/or multiples are attractive (MLPs). Given that corporate action appears likely we have shifted to a SOTP-NAV valuation with a PT of $45. Our SOTP-NAV points to net value of $45-50/share with less than 50% of total value attributable to coal (which generated nearly 80% of operating earnings in 1H13) and up to $10b of value in gas. An MLP of its coal/gas infrastructure is a possible early move and more accretion is likely from the development of its gas resources. Risks are that CNX doesn’t deliver a ‘deal’ within 30 days but we continue to see multiple ways for investors to ‘win’ including strategic moves, resources & commodity momentum.”
Shares of Consol Energy (NYSE:CNX) traded down 0.84% on Monday, hitting $37.85. The stock had a trading volume of 1,303,644 shares. Consol Energy has a 52-week low of $26.25 and a 52-week high of $39.23. The stock’s 50-day moving average is $34. and its 200-day moving average is $32.45. The company has a market cap of $8.662 billion and a P/E ratio of 70.04. Consol Energy also saw some unusual options trading activity on Friday. Investors purchased 19,433 call options on the company. This represents an increase of approximately 633% compared to the average daily volume of 2,650 call options.
Consol Energy (NYSE:CNX) last issued its quarterly earnings data on Thursday, July 25th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the 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. On average, analysts predict that Consol Energy will post $0.38 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on CNX. Analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Consol Energy in a research note to investors on Monday. They now have a $43.00 price target on the stock. Separately, analysts at Raymond James raised their price target on shares of Consol Energy from $40.00 to $50.00 in a research note to investors on Thursday, October 3rd. They now have an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $43.21.
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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