Hi-Crush Partners LP (HCLP) Expected to Post Quarterly Sales of $172.83 Million
Equities research analysts expect Hi-Crush Partners LP (NYSE:HCLP) to report $172.83 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Hi-Crush Partners’ earnings, with the lowest sales estimate coming in at $165.37 million and the highest estimate coming in at $179.43 million. Hi-Crush Partners posted sales of $46.56 million in the same quarter last year, which suggests a positive year over year growth rate of 271.2%. The business is scheduled to report its next quarterly earnings report on Monday, October 30th.
On average, analysts expect that Hi-Crush Partners will report full year sales of $172.83 million for the current year, with estimates ranging from $583.11 million to $610.56 million. For the next year, analysts anticipate that the business will report sales of $833.99 million per share, with estimates ranging from $804.31 million to $881.06 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Hi-Crush Partners.
Hi-Crush Partners (NYSE:HCLP) last posted its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Hi-Crush Partners had a negative net margin of 2.53% and a negative return on equity of 1.58%. The firm had revenue of $135.22 million during the quarter, compared to analysts’ expectations of $138.61 million. During the same quarter in the previous year, the company posted ($0.26) EPS. Hi-Crush Partners’s revenue was up 251.9% on a year-over-year basis.
HCLP has been the subject of several research reports. Jefferies Group LLC set a $15.00 price objective on shares of Hi-Crush Partners and gave the company a “buy” rating in a research note on Monday, August 28th. Zacks Investment Research downgraded shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Credit Suisse Group AG dropped their price objective on shares of Hi-Crush Partners from $24.00 to $12.00 and set an “outperform” rating for the company in a research note on Thursday, July 20th. ValuEngine downgraded shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a research note on Thursday, June 15th. Finally, Johnson Rice initiated coverage on shares of Hi-Crush Partners in a research note on Friday, June 23rd. They issued an “accumulate” rating and a $17.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Hi-Crush Partners currently has an average rating of “Buy” and a consensus price target of $16.58.
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Hi-Crush Partners (NYSE:HCLP) opened at 9.95 on Friday. The company’s market cap is $905.75 million. Hi-Crush Partners has a 52-week low of $7.25 and a 52-week high of $23.30. The company has a 50-day moving average of $8.77 and a 200 day moving average of $11.53.
Hedge funds have recently added to or reduced their stakes in the company. Strid Group LLC bought a new position in shares of Hi-Crush Partners during the second quarter valued at $109,000. S. Muoio & CO. LLC bought a new position in shares of Hi-Crush Partners during the second quarter valued at $111,000. Bank of New York Mellon Corp bought a new position in shares of Hi-Crush Partners during the first quarter valued at $209,000. NEXT Financial Group Inc raised its stake in shares of Hi-Crush Partners by 761.9% during the second quarter. NEXT Financial Group Inc now owns 13,575 shares of the basic materials company’s stock valued at $147,000 after acquiring an additional 12,000 shares during the last quarter. Finally, Pinnacle Associates Ltd. bought a new position in shares of Hi-Crush Partners during the second quarter valued at $157,000. 51.23% of the stock is owned by hedge funds and other institutional investors.
Hi-Crush Partners Company Profile
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.
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