Ciner Resources LP (CINR) Expected to Post Quarterly Sales of $122.71 Million
Wall Street analysts expect that Ciner Resources LP (NYSE:CINR) will announce sales of $122.71 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Ciner Resources’ earnings. The lowest sales estimate is $108.00 million and the highest is $130.92 million. Ciner Resources reported sales of $116.70 million during the same quarter last year, which indicates a positive year over year growth rate of 5.1%. The company is expected to announce its next earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that Ciner Resources will report full year sales of $122.71 million for the current financial year, with estimates ranging from $495.00 million to $508.54 million. For the next financial year, analysts expect that the business will post sales of $508.44 million per share, with estimates ranging from $496.90 million to $518.42 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Ciner Resources.
Ciner Resources (NYSE:CINR) last released its earnings results on Monday, May 8th. The basic materials company reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.02. The business had revenue of $126.60 million during the quarter, compared to analysts’ expectations of $122.42 million. Ciner Resources had a return on equity of 22.91% and a net margin of 12.52%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share.
A number of research firms recently weighed in on CINR. ValuEngine lowered shares of Ciner Resources from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. FBR & Co reaffirmed a “buy” rating on shares of Ciner Resources in a research report on Friday, February 24th. Finally, Zacks Investment Research lowered shares of Ciner Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, February 22nd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $32.17.
A number of hedge funds have recently made changes to their positions in CINR. Creative Planning raised its stake in shares of Ciner Resources by 49.4% in the first quarter. Creative Planning now owns 3,735 shares of the basic materials company’s stock valued at $107,000 after buying an additional 1,235 shares in the last quarter. Central Bank & Trust Co. bought a new stake in shares of Ciner Resources during the first quarter valued at approximately $181,000. Advisory Services Network LLC bought a new stake in shares of Ciner Resources during the first quarter valued at approximately $305,000. Russell Investments Group Ltd. bought a new stake in shares of Ciner Resources during the fourth quarter valued at approximately $592,000. Finally, Geode Capital Management LLC raised its stake in shares of Ciner Resources by 24.0% in the first quarter. Geode Capital Management LLC now owns 22,975 shares of the basic materials company’s stock valued at $655,000 after buying an additional 4,450 shares in the last quarter. 19.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ciner Resources (NYSE:CINR) opened at 28.35 on Friday. Ciner Resources has a 52-week low of $26.25 and a 52-week high of $39.10. The stock has a market capitalization of $570.60 million, a P/E ratio of 13.44 and a beta of 1.13. The stock has a 50 day moving average of $28.27 and a 200-day moving average of $29.23.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 1st were given a $0.567 dividend. This is a positive change from Ciner Resources’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Thursday, April 27th. This represents a $2.27 annualized dividend and a yield of 8.00%. Ciner Resources’s payout ratio is currently 100.00%.
Ciner Resources Company Profile
Ciner Resources LP, through its subsidiary, Ciner Wyoming LLC (Ciner Wyoming), produces soda ash and serves a global market from its facility in the Green River Basin of Wyoming. The Company processes trona ore into soda ash, a raw material in flat glass, container glass, detergents, chemicals, paper and other consumer and industrial products.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ciner Resources LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciner Resources LP and related companies with MarketBeat.com's FREE daily email newsletter.