SunTrust Banks Research Analysts Reduce Earnings Estimates for CNX Resources Corp (CNX)

CNX Resources Corp (NYSE:CNX) – Investment analysts at SunTrust Banks reduced their Q2 2018 earnings per share estimates for shares of CNX Resources in a note issued to investors on Tuesday. SunTrust Banks analyst W. Fitzpatrick now anticipates that the oil and gas producer will post earnings of ($0.06) per share for the quarter, down from their prior estimate of ($0.05). SunTrust Banks has a “Buy” rating on the stock.

A number of other research analysts also recently issued reports on the company. Zacks Investment Research upgraded CNX Resources from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Jefferies Group reiterated a “buy” rating and issued a $20.00 price target on shares of CNX Resources in a report on Tuesday, October 10th. B. Riley began coverage on CNX Resources in a report on Tuesday, November 21st. They issued a “buy” rating and a $32.00 price target on the stock. Scotiabank set a $21.00 target price on CNX Resources and gave the stock a “hold” rating in a research note on Monday, November 13th. Finally, Robert W. Baird began coverage on CNX Resources in a research note on Tuesday, December 19th. They set an “outperform” rating and a $22.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $22.91.

Shares of CNX Resources (NYSE CNX) traded up $0.33 during trading hours on Thursday, hitting $15.04. The stock had a trading volume of 1,883,800 shares, compared to its average volume of 2,495,887. CNX Resources has a twelve month low of $11.29 and a twelve month high of $16.47. The stock has a market cap of $3,460.00, a P/E ratio of -15.51 and a beta of 1.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.94 and a quick ratio of 0.86.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Tuesday, October 31st. The oil and gas producer reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.14). The business had revenue of $671.30 million for the quarter, compared to the consensus estimate of $623.00 million. CNX Resources had a negative return on equity of 2.69% and a negative net margin of 4.53%. CNX Resources’s revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share.

CNX Resources announced that its Board of Directors has approved a share buyback program on Tuesday, October 31st that permits the company to buyback $369.00 million in shares. This buyback authorization permits the oil and gas producer to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in CNX Resources by 9.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,634 shares of the oil and gas producer’s stock worth $114,000 after buying an additional 631 shares during the last quarter. Strategic Global Advisors LLC purchased a new position in CNX Resources during the 3rd quarter worth $172,000. Virtu KCG Holdings LLC purchased a new position in CNX Resources during the 2nd quarter worth $179,000. Emerald Advisers Inc. PA purchased a new position in CNX Resources during the 3rd quarter worth $192,000. Finally, Jane Street Group LLC lifted its position in CNX Resources by 411.2% during the 3rd quarter. Jane Street Group LLC now owns 12,170 shares of the oil and gas producer’s stock worth $206,000 after acquiring an additional 16,081 shares during the period. Hedge funds and other institutional investors own 99.29% of the company’s stock.

WARNING: “SunTrust Banks Research Analysts Reduce Earnings Estimates for CNX Resources Corp (CNX)” was posted by Markets Daily and is the sole property of of Markets Daily. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this news story can be viewed at https://www.themarketsdaily.com/2018/01/12/suntrust-banks-research-analysts-reduce-earnings-estimates-for-cnx-resources-corp-cnx.html.

About CNX Resources

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)

Receive News & Ratings for CNX Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNX Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply