Wall Street brokerages expect Ciner Resources LP (NYSE:CINR) to post $125.55 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Ciner Resources’ earnings, with the lowest sales estimate coming in at $124.10 million and the highest estimate coming in at $127.00 million. Ciner Resources reported sales of $123.10 million in the same quarter last year, which indicates a positive year-over-year growth rate of 2%. The business is scheduled to issue its next earnings report after the market closes on Thursday, February 15th.
According to Zacks, analysts expect that Ciner Resources will report full year sales of $125.55 million for the current year, with estimates ranging from $492.90 million to $496.00 million. For the next year, analysts forecast that the company will report sales of $505.20 million per share, with estimates ranging from $500.40 million to $510.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Ciner Resources.
A number of research analysts recently weighed in on CINR shares. ValuEngine upgraded shares of Ciner Resources from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. B. Riley restated a “buy” rating on shares of Ciner Resources in a research report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Ciner Resources from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Tuesday, January 2nd. Finally, SunTrust Banks reaffirmed a “hold” rating on shares of Ciner Resources in a report on Tuesday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $26.50.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Monday, February 12th will be issued a dividend of $0.567 per share. The ex-dividend date is Friday, February 9th. This represents a $2.27 dividend on an annualized basis and a yield of 8.16%. Ciner Resources’s dividend payout ratio is currently 119.47%.
A number of hedge funds have recently made changes to their positions in the business. Deutsche Bank AG increased its holdings in Ciner Resources by 267.8% during the fourth quarter. Deutsche Bank AG now owns 33,100 shares of the basic materials company’s stock valued at $831,000 after buying an additional 24,100 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Ciner Resources by 27.8% in the fourth quarter. Renaissance Technologies LLC now owns 11,500 shares of the basic materials company’s stock worth $289,000 after purchasing an additional 2,500 shares in the last quarter. Employees Retirement System of Texas increased its stake in shares of Ciner Resources by 100.0% in the fourth quarter. Employees Retirement System of Texas now owns 70,000 shares of the basic materials company’s stock worth $1,765,000 after purchasing an additional 35,000 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Ciner Resources by 1.1% in the fourth quarter. Wells Fargo & Company MN now owns 164,018 shares of the basic materials company’s stock worth $4,118,000 after purchasing an additional 1,834 shares in the last quarter. Finally, Starfire Investment Advisers Inc. purchased a new stake in shares of Ciner Resources in the fourth quarter worth $486,000. 9.05% of the stock is owned by institutional investors and hedge funds.
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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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