Zacks: Analysts Expect Ciner Resources LP (CINR) Will Post Quarterly Sales of $118.10 Million
Wall Street analysts expect that Ciner Resources LP (NYSE:CINR) will announce sales of $118.10 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Ciner Resources’ earnings, with the lowest sales estimate coming in at $115.20 million and the highest estimate coming in at $121.00 million. Ciner Resources reported sales of $121.00 million in the same quarter last year, which would suggest a negative year over year growth rate of 2.4%. The company is expected to announce its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, 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 year, analysts anticipate that the business will report sales of $502.15 million per share, with estimates ranging from $494.30 million to $510.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Ciner Resources.
Ciner Resources (NYSE:CINR) last posted its quarterly earnings data on Monday, August 7th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 company posted $0.52 earnings per share. Ciner Resources’s quarterly revenue was up 2.6% on a year-over-year basis.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Ciner Resources from a “sell” rating to a “hold” rating in a report on Monday, October 16th. BidaskClub upgraded shares of Ciner Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. Finally, Citigroup Inc. restated a “neutral” rating and set a $25.00 target price (down from $29.00) on shares of Ciner Resources in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Ciner Resources currently has an average rating of “Hold” and a consensus price target of $25.00.
Shares of Ciner Resources (NYSE CINR) opened at 25.13 on Tuesday. The company has a market capitalization of $505.84 million, a P/E ratio of 12.63 and a beta of 1.00. The firm has a 50-day moving average of $25.20 and a 200-day moving average of $26.56. Ciner Resources has a one year low of $22.61 and a one year high of $32.50.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, November 6th will be issued a $0.567 dividend. This is an increase from Ciner Resources’s previous quarterly dividend of $0.56. This represents a $2.27 annualized dividend and a dividend yield of 9.03%. The ex-dividend date of this dividend is Friday, November 3rd. Ciner Resources’s payout ratio is currently 114.07%.
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Several large investors have recently added to or reduced their stakes in the business. Walthausen & Co. LLC increased its holdings in shares of Ciner Resources by 15.1% in the second quarter. Walthausen & Co. LLC now owns 403,860 shares of the basic materials company’s stock valued at $11,066,000 after purchasing an additional 53,090 shares during the last quarter. FMR LLC increased its holdings in shares of Ciner Resources by 97.5% in the second quarter. FMR LLC now owns 285,435 shares of the basic materials company’s stock valued at $7,821,000 after purchasing an additional 140,931 shares during the last quarter. Midas Management Corp increased its holdings in shares of Ciner Resources by 17.4% in the third quarter. Midas Management Corp now owns 111,302 shares of the basic materials company’s stock valued at $2,788,000 after purchasing an additional 16,500 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Ciner Resources by 1.2% in the second quarter. California Public Employees Retirement System now owns 91,100 shares of the basic materials company’s stock valued at $2,496,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Ciner Resources by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 71,021 shares of the basic materials company’s stock valued at $1,946,000 after purchasing an additional 10,150 shares during the last quarter. Hedge funds and other institutional investors own 9.28% of the company’s stock.
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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