Analysts Anticipate CONSOL Energy Inc. (CNX) Will Announce Quarterly Sales of $608.64 Million
Analysts expect that CONSOL Energy Inc. (NYSE:CNX) will report sales of $608.64 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for CONSOL Energy’s earnings. The lowest sales estimate is $598.68 million and the highest is $618.60 million. CONSOL Energy posted sales of $745.58 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 18.4%. The company is scheduled to report its next quarterly earnings report before the market opens on Tuesday, October 31st.
On average, analysts expect that CONSOL Energy will report full year sales of $608.64 million for the current financial year, with estimates ranging from $2.67 billion to $2.86 billion. For the next year, analysts forecast that the company will post sales of $2.97 billion per share, with estimates ranging from $2.91 billion to $3.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover CONSOL Energy.
CONSOL Energy (NYSE:CNX) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.07. CONSOL Energy had a negative net margin of 5.42% and a positive return on equity of 1.09%. The firm had revenue of $865.95 million for the quarter, compared to analyst estimates of $678.79 million. During the same period in the previous year, the business earned ($0.21) EPS. The company’s revenue was up 202.8% compared to the same quarter last year.
CNX has been the topic of a number of recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $24.00 price objective (down from $26.00) on shares of CONSOL Energy in a research note on Wednesday, September 6th. Jefferies Group LLC set a $20.00 price objective on shares of CONSOL Energy and gave the company a “buy” rating in a research note on Monday, August 28th. Zacks Investment Research raised shares of CONSOL Energy from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Monday, July 24th. Finally, Scotiabank set a $21.00 price objective on shares of CONSOL Energy and gave the company a “hold” rating in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. CONSOL Energy has a consensus rating of “Hold” and a consensus target price of $20.97.
Shares of CONSOL Energy (CNX) opened at 16.32 on Monday. The firm’s market capitalization is $3.75 billion. CONSOL Energy has a 52 week low of $13.55 and a 52 week high of $22.34. The firm has a 50-day moving average of $16.10 and a 200 day moving average of $15.49.
CONSOL Energy announced that its Board of Directors has approved a stock buyback plan on Tuesday, September 5th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the oil and gas producer to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director J. Palmer Clarkson bought 10,000 shares of the stock in a transaction dated Thursday, August 3rd. The stock was bought at an average price of $15.40 per share, for a total transaction of $154,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. purchased a new stake in CONSOL Energy during the third quarter worth about $337,000. Murphy Pohlad Asset Management LLC increased its holdings in CONSOL Energy by 27.8% during the third quarter. Murphy Pohlad Asset Management LLC now owns 46,900 shares of the oil and gas producer’s stock worth $794,000 after buying an additional 10,200 shares during the last quarter. Nationwide Fund Advisors increased its holdings in CONSOL Energy by 14.2% during the third quarter. Nationwide Fund Advisors now owns 380,873 shares of the oil and gas producer’s stock worth $6,452,000 after buying an additional 47,447 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in CONSOL Energy during the third quarter worth about $554,000. Finally, State Treasurer State of Michigan increased its holdings in CONSOL Energy by 6.7% during the third quarter. State Treasurer State of Michigan now owns 77,900 shares of the oil and gas producer’s stock worth $1,320,000 after buying an additional 4,900 shares during the last quarter. Institutional investors and hedge funds own 99.84% of the company’s stock.
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CONSOL Energy Company Profile
CONSOL Energy Inc (CONSOL Energy) is an integrated energy company. The Company’s divisions include Exploration and Production (E&P), Pennsylvania (PA) Mining Operations and Other. The E&P division operates through four segments: Marcellus Shale, Utica Shale, Coalbed Methane (CBM) and Other Gas, which produce pipeline quality natural gas for sale primarily to gas wholesalers.
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