Hi-Crush Partners LP (NYSE:HCLP) Expected to Post Quarterly Sales of $140.07 Million
Equities analysts expect Hi-Crush Partners LP (NYSE:HCLP) to post $140.07 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Hi-Crush Partners’ earnings, with the highest sales estimate coming in at $143.88 million and the lowest estimate coming in at $133.40 million. Hi-Crush Partners posted sales of $38.43 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 264.5%. The business is scheduled to report its next earnings results after the market closes on Wednesday, August 2nd.
According to Zacks, analysts expect that Hi-Crush Partners will report full year sales of $140.07 million for the current financial year, with estimates ranging from $566.90 million to $642.91 million. For the next financial year, analysts expect that the company will post sales of $927.52 million per share, with estimates ranging from $822.30 million to $1.13 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Hi-Crush Partners.
Hi-Crush Partners (NYSE:HCLP) last issued its earnings results on Monday, May 1st. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.04. The company had revenue of $83.40 million during the quarter, compared to analyst estimates of $84.31 million. Hi-Crush Partners had a negative net margin of 8.19% and a negative return on equity of 4.15%. The business’s revenue for the quarter was up 60.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.48) EPS.
A number of research analysts recently issued reports on the stock. Credit Suisse Group AG lowered their target price on shares of Hi-Crush Partners from $24.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday. Zacks Investment Research lowered shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Johnson Rice began coverage on shares of Hi-Crush Partners in a research report on Friday, June 23rd. They issued an “accumulate” rating and a $17.00 price target on the stock. ValuEngine lowered shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a research report on Thursday, June 15th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $30.00 price target on shares of Hi-Crush Partners in a research report on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $21.36.
COPYRIGHT VIOLATION WARNING: This news story was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another site, it was copied illegally and reposted in violation of United States and international trademark and copyright laws. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/07/22/hi-crush-partners-lp-nysehclp-expected-to-post-quarterly-sales-of-140-07-million.html.
Shares of Hi-Crush Partners (NYSE HCLP) opened at 9.30 on Friday. The firm’s market cap is $846.46 million. The stock has a 50 day moving average of $10.81 and a 200-day moving average of $15.50. Hi-Crush Partners has a 52 week low of $9.00 and a 52 week high of $23.30.
Several institutional investors have recently added to or reduced their stakes in HCLP. Goldman Sachs Group Inc. increased its position in Hi-Crush Partners by 86.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,371,553 shares of the basic materials company’s stock worth $75,847,000 after buying an additional 2,027,256 shares during the last quarter. Morgan Stanley increased its position in Hi-Crush Partners by 19.5% in the first quarter. Morgan Stanley now owns 10,011,999 shares of the basic materials company’s stock worth $173,709,000 after buying an additional 1,633,971 shares during the last quarter. Sprott Inc. acquired a new position in Hi-Crush Partners during the first quarter worth approximately $18,218,000. Kayne Anderson Capital Advisors LP acquired a new position in Hi-Crush Partners during the first quarter worth approximately $14,830,000. Finally, Bronson Point Management LLC acquired a new position in Hi-Crush Partners during the first quarter worth approximately $13,880,000. 65.47% of the stock is owned by institutional investors.
About Hi-Crush Partners
Hi-Crush Partners LP is an integrated producer, transporter, marketer and distributor of monocrystalline sand, a specialized mineral that is used as a proppant to manage the recovery rates of hydrocarbons from oil and natural gas wells. Its reserves consist of northern white sand, a resource in Wisconsin and limited portions of the upper Midwest region of the United States.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hi-Crush Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hi-Crush Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.