Equities analysts expect CNX Resources Co. (NYSE:CNX – Get Rating) to report sales of $597.09 million for the current quarter, Zacks reports. Six analysts have issued estimates for CNX Resources’ earnings, with the highest sales estimate coming in at $981.50 million and the lowest estimate coming in at $480.73 million. CNX Resources reported sales of $359.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 66.3%. The company is scheduled to announce its next earnings results on Monday, January 1st.
On average, analysts expect that CNX Resources will report full-year sales of $2.47 billion for the current financial year, with estimates ranging from $1.93 billion to $4.07 billion. For the next year, analysts expect that the company will report sales of $2.26 billion, with estimates ranging from $1.87 billion to $3.55 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for CNX Resources.
CNX Resources (NYSE:CNX – Get Rating) last issued its earnings results on Thursday, April 28th. The oil and gas producer reported $0.79 EPS for the quarter, topping the consensus estimate of $0.60 by $0.19. The business had revenue of ($913.10) million during the quarter, compared to analyst estimates of $519.43 million. The business’s quarterly revenue was down 293.0% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS.
Several brokerages recently issued reports on CNX. Piper Sandler cut their price objective on CNX Resources to $23.00 and set a “na” rating for the company in a report on Wednesday, May 18th. StockNews.com began coverage on CNX Resources in a report on Thursday, March 31st. They set a “hold” rating for the company. Stifel Nicolaus increased their price objective on CNX Resources from $29.00 to $33.00 in a report on Thursday, April 28th. Wells Fargo & Company lifted their target price on shares of CNX Resources from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, March 14th. Finally, Truist Financial boosted their target price on shares of CNX Resources from $16.00 to $22.00 in a research report on Thursday, April 21st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.60.
Shares of CNX opened at $22.61 on Friday. The company’s 50 day moving average price is $20.91 and its 200 day moving average price is $17.36. The company has a market capitalization of $4.41 billion, a PE ratio of -3.06, a PEG ratio of 0.38 and a beta of 1.28. CNX Resources has a 52 week low of $10.41 and a 52 week high of $23.33. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.19 and a current ratio of 0.20.
A number of institutional investors have recently added to or reduced their stakes in CNX. Massachusetts Financial Services Co. MA acquired a new stake in shares of CNX Resources in the fourth quarter valued at about $32,704,000. State Street Corp boosted its stake in CNX Resources by 15.6% during the 1st quarter. State Street Corp now owns 13,033,827 shares of the oil and gas producer’s stock valued at $270,061,000 after purchasing an additional 1,760,214 shares during the period. Renaissance Technologies LLC grew its holdings in CNX Resources by 2,477.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,513,616 shares of the oil and gas producer’s stock valued at $31,362,000 after buying an additional 1,454,887 shares during the last quarter. American Century Companies Inc. increased its position in CNX Resources by 151.2% in the 1st quarter. American Century Companies Inc. now owns 1,904,328 shares of the oil and gas producer’s stock worth $39,458,000 after buying an additional 1,146,313 shares during the period. Finally, Aequim Alternative Investments LP lifted its holdings in shares of CNX Resources by 41.2% during the first quarter. Aequim Alternative Investments LP now owns 2,803,701 shares of the oil and gas producer’s stock worth $58,093,000 after buying an additional 817,701 shares during the last quarter. 95.34% of the stock is owned by hedge funds and other institutional investors.
CNX Resources Company Profile (Get Rating)
CNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane. It produces and sells pipeline quality natural gas primarily for gas wholesalers.
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