Q1 2018 EPS Estimates for CNX Resources Corp Cut by Jefferies Group (CNX)

CNX Resources Corp (NYSE:CNX) – Stock analysts at Jefferies Group dropped their Q1 2018 earnings per share estimates for CNX Resources in a research report issued on Tuesday. Jefferies Group analyst Z. Parham now anticipates that the oil and gas producer will post earnings per share of $0.12 for the quarter, down from their previous forecast of $0.15. Jefferies Group also issued estimates for CNX Resources’ Q3 2019 earnings at $0.16 EPS and FY2019 earnings at $0.91 EPS.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Tuesday, January 30th. The oil and gas producer reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.06. The business had revenue of $333.30 million for the quarter, compared to analyst estimates of $331.76 million. CNX Resources had a return on equity of 1.36% and a net margin of 14.03%. CNX Resources’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period last year, the company posted ($1.33) earnings per share.

CNX has been the topic of a number of other reports. Seaport Global Securities began coverage on CNX Resources in a report on Thursday, November 30th. They set a “buy” rating and a $32.00 price target on the stock. Robert W. Baird lifted their price target on CNX Resources from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Scotiabank set a $21.00 price target on CNX Resources and gave the stock a “hold” rating in a report on Monday, November 13th. Zacks Investment Research lowered CNX Resources from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, ValuEngine upgraded CNX Resources from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.00.

Shares of CNX Resources (NYSE CNX) opened at $14.56 on Thursday. The company has a market capitalization of $2,984.94, a price-to-earnings ratio of 8.77 and a beta of 1.49. CNX Resources has a fifty-two week low of $11.29 and a fifty-two week high of $15.51. The company has a current ratio of 1.93, a quick ratio of 1.91 and a debt-to-equity ratio of 0.57.

CNX Resources announced that its Board of Directors has initiated a stock buyback plan on Tuesday, October 31st that permits the company to repurchase $369.00 million in outstanding shares. This repurchase authorization permits the oil and gas producer to purchase 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.

Institutional investors and hedge funds have recently modified their holdings of the business. Strategic Global Advisors LLC bought a new stake in shares of CNX Resources in the third quarter valued at $172,000. Emerald Advisers Inc. PA bought a new stake in shares of CNX Resources in the third quarter valued at $192,000. Virtu KCG Holdings LLC bought a new stake in shares of CNX Resources in the second quarter valued at $179,000. TNB Financial bought a new stake in shares of CNX Resources in the fourth quarter valued at $176,000. Finally, Jane Street Group LLC raised its stake in shares of CNX Resources by 411.2% in the third quarter. Jane Street Group LLC now owns 12,170 shares of the oil and gas producer’s stock valued at $206,000 after buying an additional 16,081 shares during the period. Hedge funds and other institutional investors own 96.83% of the company’s stock.

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CNX Resources Company Profile

CNX Resources Corp., formerly CONSOL Energy Inc, 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.

Earnings History and Estimates for CNX Resources (NYSE:CNX)

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