CVR Partners Stock Price Down 9.5% After Earnings Miss (UAN)
Shares of CVR Partners (NYSE:UAN) traded down 9.5% during trading on Thursday after the company announced weaker than expected quarterly earnings, American Banking & Market News reports. The stock traded as low as $16.28 and last traded at $16.63, with a volume of 524,558 shares changing hands. The stock had previously closed at $18.37.
The company reported $0.23 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.87 by $0.64. The company had revenue of $77.20 million for the quarter, compared to the consensus estimate of $2.74 million. During the same quarter last year, the company posted $0.48 earnings per share. CVR Partners’s revenue was down 13.1% compared to the same quarter last year.
Separately, analysts at Zacks upgraded shares of CVR Partners from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 6th. They now have a $23.20 price target on the stock.
The stock has a 50-day moving average of $18.39 and a 200-day moving average of $19.38. The company has a market cap of $1.244 billion and a P/E ratio of 12.94.
CVR Partners, LP (NYSE:UAN), is a Delaware limited partnership formed by CVR Energy, Inc (CVR Energy) to own and operate a nitrogen fertilizer business.
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