Rentech Nitrogen Partners Stock Price Down 2.3% on Disappointing Earnings (RNF)
Shares of Rentech Nitrogen Partners (NYSE:RNF) were down 2.3% on Friday following a weaker than expected earnings announcement, StockRatingsNetwork reports. The stock traded as low as $15.00 and last traded at $15.04, with a volume of 54,903 shares traded. The stock had previously closed at $15.40.
The company reported $0.47 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.69 by $0.22.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Friday, August 22nd will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Wednesday, August 20th. This is an increase from Rentech Nitrogen Partners’s previous quarterly dividend of $0.08.
RNF has been the subject of a number of recent research reports. Analysts at BMO Capital Markets cut their price target on shares of Rentech Nitrogen Partners from $20.00 to $17.00 in a research note on Tuesday, August 19th. They now have a “market perform” rating on the stock. Analysts at RBC Capital cut their price target on shares of Rentech Nitrogen Partners from $17.00 to $15.00 in a research note on Monday, August 18th. They now have a “sector perform” rating on the stock. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $22.00.
The stock has a 50-day moving average of $15.96 and a 200-day moving average of $17.02. The company’s market cap is $583.9 million.
Rentech Nitrogen Partners, L.P. is a provider of clean energy solutions and nitrogen fertilizer, to own, operate and grow its nitrogen fertilizer business.
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