Hi-Crush Partners LP (HCLP) Posts Quarterly Earnings, Hits Estimates
Hi-Crush Partners LP (NASDAQ:HCLP) posted its quarterly earnings results on Thursday. The company reported $0.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.63, AR Network reports. The company had revenue of $51.50 million for the quarter, compared to the consensus estimate of $45.60 million.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of 0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend is Wednesday, January 29th. This is an increase from Hi-Crush Partners LP’s previous quarterly dividend of $0.49.
HCLP has been the subject of a number of recent research reports. Analysts at Barclays downgraded shares of Hi-Crush Partners LP from an “overweight” rating to an “equal weight” rating in a research note to investors on Tuesday, January 14th. On the ratings front, analysts at RBC Capital reiterated a “hold” rating on shares of Hi-Crush Partners LP in a research note to investors on Thursday, November 21st. They now have a $30.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $29.25.
Hi-Crush Partners LP is a domestic producer of monocrystalline sand, a specialized mineral that is used as a proppant to enhance the recovery rates of hydrocarbons from oil and natural gas wells.
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