$118.10 Million in Sales Expected for Ciner Resources LP (CINR) This Quarter
Equities analysts predict that Ciner Resources LP (NYSE:CINR) will announce sales of $118.10 million for the current quarter, Zacks reports. Two analysts have issued estimates for Ciner Resources’ earnings, with estimates ranging from $115.20 million to $121.00 million. Ciner Resources reported sales of $121.00 million during the same quarter last year, which indicates a negative year over year growth rate of 2.4%. The company is scheduled to report its next earnings results on Thursday, November 2nd.
On average, analysts expect that Ciner Resources will report full year sales of $118.10 million for the current financial year, with estimates ranging from $482.60 million to $487.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $502.15 million per share, with estimates ranging from $494.30 million to $510.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Ciner Resources.
Ciner Resources (NYSE:CINR) last announced 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 return on equity of 15.65% and a net margin of 8.18%. The firm had revenue of $119.70 million for the quarter, compared to the consensus estimate of $129.20 million. During the same period in the prior year, the business earned $0.52 EPS. Ciner Resources’s quarterly revenue was up 2.6% on a year-over-year basis.
Several brokerages have commented on CINR. Zacks Investment Research lowered shares of Ciner Resources from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Citigroup Inc. restated a “neutral” rating and issued a $25.00 price objective (down from $29.00) on shares of Ciner Resources in a report on Thursday, August 10th. Finally, BidaskClub lowered shares of Ciner Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $25.00.
Institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC increased its stake in shares of Ciner Resources by 0.3% in the 2nd quarter. Advisory Services Network LLC now owns 10,723 shares of the basic materials company’s stock worth $294,000 after acquiring an additional 32 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Ciner Resources by 5.2% in the 1st quarter. Russell Investments Group Ltd. now owns 21,461 shares of the basic materials company’s stock worth $612,000 after acquiring an additional 1,059 shares in the last quarter. Pointe Capital Management LLC bought a new position in shares of Ciner Resources in the 1st quarter worth about $737,000. Bank of New York Mellon Corp increased its stake in shares of Ciner Resources by 55.0% in the 1st quarter. Bank of New York Mellon Corp now owns 60,871 shares of the basic materials company’s stock worth $1,737,000 after acquiring an additional 21,591 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Ciner Resources by 1.2% in the 2nd quarter. California Public Employees Retirement System now owns 91,100 shares of the basic materials company’s stock worth $2,496,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors own 9.29% of the company’s stock.
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Shares of Ciner Resources (CINR) opened at 25.60 on Thursday. The company has a market capitalization of $515.30 million, a P/E ratio of 12.86 and a beta of 1.00. The firm has a 50-day moving average of $24.71 and a 200 day moving average of $26.86. Ciner Resources has a 1-year low of $22.61 and a 1-year high of $32.50.
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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