Ciner Resources LP (CINR) Posts Quarterly Earnings Results, Misses Estimates By $0.12 EPS
Ciner Resources LP (NYSE:CINR) issued its quarterly earnings results on Monday. The basic materials company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.53 by $0.12, Briefing.com reports. The business had revenue of $119.70 million for the quarter, compared to the consensus estimate of $129.20 million. Ciner Resources had a return on equity of 16.31% and a net margin of 8.68%. Ciner Resources’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share.
Ciner Resources (NYSE CINR) traded down 9.357% during midday trading on Tuesday, hitting $23.114. The stock had a trading volume of 41,460 shares. Ciner Resources has a 1-year low of $22.61 and a 1-year high of $32.50. The stock has a market capitalization of $465.22 million, a PE ratio of 10.955 and a beta of 0.97. The stock’s 50-day moving average is $27.67 and its 200-day moving average is $28.57.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be issued a $0.567 dividend. This represents a $2.27 annualized dividend and a dividend yield of 8.89%. The ex-dividend date of this dividend is Thursday, August 3rd. This is an increase from Ciner Resources’s previous quarterly dividend of $0.56. Ciner Resources’s dividend payout ratio is presently 108.10%.
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Several brokerages have recently weighed in on CINR. ValuEngine cut shares of Ciner Resources from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research cut shares of Ciner Resources from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. Finally, BidaskClub cut shares of Ciner Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Ciner Resources presently has an average rating of “Hold” and an average price target of $32.17.
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.
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