Wall Street brokerages predict that Ciner Resources LP (NYSE:CINR) will report $125.55 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Ciner Resources’ earnings, with estimates ranging from $124.10 million to $127.00 million. Ciner Resources reported sales of $123.10 million during the same quarter last year, which would suggest a positive year over year growth rate of 2%. The firm is expected to report its next quarterly earnings results 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 fiscal year, with estimates ranging from $492.90 million to $496.00 million. For the next year, analysts expect that the company will post sales of $505.20 million per share, with estimates ranging from $500.40 million to $510.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Ciner Resources.
CINR has been the subject of several research reports. Zacks Investment Research upgraded Ciner Resources from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Tuesday, January 2nd. SunTrust Banks restated a “hold” rating on shares of Ciner Resources in a research note on Tuesday, December 19th. ValuEngine upgraded Ciner Resources from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, B. Riley restated a “buy” rating on shares of Ciner Resources in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $26.50.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Monday, February 12th will be paid a $0.567 dividend. The ex-dividend date is Friday, February 9th. This represents a $2.27 annualized dividend and a dividend yield of 8.16%. Ciner Resources’s dividend payout ratio is presently 119.47%.
Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in Ciner Resources by 97.5% during the 2nd quarter. FMR LLC now owns 285,435 shares of the basic materials company’s stock valued at $7,821,000 after purchasing an additional 140,931 shares during the last quarter. Atlantic Trust Group LLC boosted its stake in Ciner Resources by 79.5% during the 3rd quarter. Atlantic Trust Group LLC now owns 126,182 shares of the basic materials company’s stock valued at $3,161,000 after purchasing an additional 55,903 shares during the last quarter. Western Standard LLC acquired a new position in Ciner Resources during the 3rd quarter valued at about $816,000. Midas Management Corp boosted its stake in Ciner Resources by 17.4% during the 3rd quarter. Midas Management Corp now owns 111,302 shares of the basic materials company’s stock valued at $2,788,000 after purchasing an additional 16,500 shares during the last quarter. Finally, Starfire Investment Advisers Inc. acquired a new position in Ciner Resources during the 4th quarter valued at about $486,000. Institutional investors own 9.05% of the company’s stock.
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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.
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