Ciner Resources LP (NYSE:CINR) announced a quarterly dividend on Friday, July 28th, Fidelity reports. Stockholders of record on Monday, August 7th will be paid a dividend of 0.567 per share by the basic materials company on Monday, August 21st. This represents a $2.27 dividend on an annualized basis and a dividend yield of 9.51%. The ex-dividend date is Thursday, August 3rd. This is an increase from Ciner Resources’s previous quarterly dividend of $0.56.
Ciner Resources has a payout ratio of 103.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Ciner Resources to earn $2.18 per share next year, which means the company may not be able to cover its $2.27 annual dividend with an expected future payout ratio of 104.1%.
Shares of Ciner Resources (NYSE:CINR) traded down 6.47% during midday trading on Tuesday, hitting $23.85. The stock had a trading volume of 181,099 shares. Ciner Resources has a 52 week low of $22.61 and a 52 week high of $32.50. The stock has a market cap of $480.03 million, a PE ratio of 11.30 and a beta of 0.97. The stock has a 50-day moving average of $27.67 and a 200 day moving average of $28.57.
Ciner Resources (NYSE:CINR) last released its earnings results on Monday, August 7th. The basic materials company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by $0.12. Ciner Resources had a return on equity of 16.31% and a net margin of 8.68%. The business had revenue of $119.70 million for the quarter, compared to analyst estimates of $129.20 million. During the same period in the prior year, the firm posted $0.52 EPS. Ciner Resources’s revenue was up 2.6% on a year-over-year basis. Analysts anticipate that Ciner Resources will post $2.17 EPS for the current fiscal year.
A number of research firms have commented on CINR. BidaskClub lowered shares of Ciner Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, July 6th. ValuEngine lowered shares of Ciner Resources from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research raised shares of Ciner Resources from a “sell” rating to a “hold” rating in a research report on Thursday, May 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Ciner Resources presently has a consensus rating of “Hold” and an average target price of $32.17.
About Ciner Resources
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.
Receive News & Ratings for Ciner Resources LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciner Resources LP and related companies with MarketBeat.com's FREE daily email newsletter.