Hi-Crush Partners LP (NYSE:HCLP) – Equities researchers at Seaport Global Securities increased their Q4 2017 earnings estimates for shares of Hi-Crush Partners in a research note issued on Friday. Seaport Global Securities analyst S. Randhawa now anticipates that the basic materials company will earn $0.54 per share for the quarter, up from their prior forecast of $0.53. Seaport Global Securities has a “Buy” rating and a $17.00 price objective on the stock. Seaport Global Securities also issued estimates for Hi-Crush Partners’ Q1 2018 earnings at $0.55 EPS, Q2 2018 earnings at $0.61 EPS, Q3 2018 earnings at $0.59 EPS, Q4 2018 earnings at $0.54 EPS, FY2018 earnings at $2.29 EPS, Q1 2019 earnings at $0.48 EPS, Q2 2019 earnings at $0.48 EPS, Q3 2019 earnings at $0.48 EPS, Q4 2019 earnings at $0.45 EPS and FY2019 earnings at $1.89 EPS.
Hi-Crush Partners (NYSE:HCLP) last released its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.08). The firm had revenue of $167.58 million for the quarter, compared to analyst estimates of $168.95 million. Hi-Crush Partners had a net margin of 7.09% and a return on equity of 5.01%. The firm’s quarterly revenue was up 259.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.21) EPS.
Hi-Crush Partners (HCLP) opened at $12.35 on Monday. The company has a current ratio of 1.77, a quick ratio of 1.29 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1,120.00, a price-to-earnings ratio of 38.59 and a beta of 0.96. Hi-Crush Partners has a twelve month low of $7.25 and a twelve month high of $23.30.
Hi-Crush Partners declared that its Board of Directors has approved a share repurchase program on Tuesday, October 17th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the basic materials company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of hedge funds have recently modified their holdings of HCLP. Bank of New York Mellon Corp raised its stake in Hi-Crush Partners by 70.1% during the second quarter. Bank of New York Mellon Corp now owns 20,462 shares of the basic materials company’s stock worth $222,000 after purchasing an additional 8,431 shares during the period. Principal Financial Group Inc. raised its stake in Hi-Crush Partners by 11.0% during the second quarter. Principal Financial Group Inc. now owns 30,720 shares of the basic materials company’s stock worth $333,000 after purchasing an additional 3,053 shares during the period. Wells Fargo & Company MN raised its stake in Hi-Crush Partners by 252.3% during the second quarter. Wells Fargo & Company MN now owns 52,318 shares of the basic materials company’s stock worth $568,000 after purchasing an additional 37,469 shares during the period. Penn Capital Management Co. Inc. raised its stake in Hi-Crush Partners by 68.1% during the second quarter. Penn Capital Management Co. Inc. now owns 73,961 shares of the basic materials company’s stock worth $802,000 after purchasing an additional 29,968 shares during the period. Finally, Virtu KCG Holdings LLC raised its stake in Hi-Crush Partners by 48.0% during the second quarter. Virtu KCG Holdings LLC now owns 70,763 shares of the basic materials company’s stock worth $768,000 after purchasing an additional 22,954 shares during the period. 43.88% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION NOTICE: This news story was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/22/q4-2017-earnings-forecast-for-hi-crush-partners-lp-issued-by-seaport-global-securities-hclp.html.
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.
Receive News & Ratings for Hi-Crush Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hi-Crush Partners and related companies with MarketBeat.com's FREE daily email newsletter.