Ciner Resources LP (CINR) Expected to Post Quarterly Sales of $123.60 Million
Wall Street brokerages forecast that Ciner Resources LP (NYSE:CINR) will report $123.60 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Ciner Resources’ earnings, with the lowest sales estimate coming in at $117.20 million and the highest estimate coming in at $130.00 million. Ciner Resources posted sales of $121.00 million in the same quarter last year, which suggests a positive year over year growth rate of 2.1%. The company is expected to issue its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Ciner Resources will report full-year sales of $123.60 million for the current fiscal year, with estimates ranging from $495.00 million to $496.80 million. For the next fiscal year, analysts forecast that the firm will report sales of $503.45 million per share, with estimates ranging from $496.90 million to $510.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Ciner Resources.
Ciner Resources (NYSE:CINR) last issued its earnings results on Monday, August 7th. The basic materials company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by $0.12. Ciner Resources had a net margin of 8.18% and a return on equity of 15.65%. The company had revenue of $119.70 million during the quarter, compared to analyst estimates of $129.20 million. During the same quarter in the prior year, the business earned $0.52 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis.
A number of equities research analysts have recently issued reports on CINR shares. Zacks Investment Research cut shares of Ciner Resources from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. ValuEngine cut shares of Ciner Resources from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub cut shares of Ciner Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 6th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $25.00 price objective (down previously from $29.00) on shares of Ciner Resources in a research note on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $28.75.
Shares of Ciner Resources (CINR) opened at 24.00 on Thursday. Ciner Resources has a 12 month low of $22.61 and a 12 month high of $32.50. The firm has a 50-day moving average of $26.65 and a 200-day moving average of $28.10. The firm has a market cap of $483.10 million, a price-to-earnings ratio of 12.06 and a beta of 0.97.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be paid a $0.567 dividend. This is a boost from Ciner Resources’s previous quarterly dividend of $0.56. The ex-dividend date is Thursday, August 3rd. This represents a $2.27 dividend on an annualized basis and a dividend yield of 9.45%. Ciner Resources’s dividend payout ratio is 114.07%.
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Large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in shares of Ciner Resources by 58.1% in the fourth quarter. Renaissance Technologies LLC now owns 59,902 shares of the basic materials company’s stock worth $1,737,000 after buying an additional 22,002 shares during the period. Creative Planning boosted 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 worth $107,000 after buying an additional 1,235 shares during the period. Midas Management Corp boosted its stake in shares of Ciner Resources by 60.0% in the first quarter. Midas Management Corp now owns 94,802 shares of the basic materials company’s stock worth $2,704,000 after buying an additional 35,564 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Ciner Resources by 5.2% in the first quarter. Russell Investments Group Ltd. now owns 21,461 shares of the basic materials company’s stock worth $612,000 after buying an additional 1,059 shares during the period. Finally, Central Bank & Trust Co. acquired a new stake in shares of Ciner Resources during the first quarter worth about $181,000. 9.04% of the stock is owned by institutional investors.
About Ciner Resources
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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