Core Natural Resources (NYSE:CNR) Releases Quarterly Earnings Results, Beats Expectations By $1.91 EPS

Core Natural Resources (NYSE:CNR) announced its quarterly earnings results on Thursday. The energy company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $1.91, FiscalAI reports. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. Core Natural Resources had a return on equity of 0.03% and a net margin of 2.34%.

Core Natural Resources Stock Down 0.2%

Shares of Core Natural Resources stock traded down $0.21 during midday trading on Friday, hitting $89.77. The company had a trading volume of 608,314 shares, compared to its average volume of 548,759. Core Natural Resources has a 52-week low of $68.78 and a 52-week high of $114.80. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.21 and a current ratio of 1.83. The company has a 50 day moving average of $84.87 and a 200 day moving average of $89.90. The stock has a market capitalization of $4.53 billion, a P/E ratio of 45.11 and a beta of 0.14.

Core Natural Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, August 31st. Core Natural Resources’s dividend payout ratio (DPR) is presently -32.79%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CNR shares. Zacks Research upgraded Core Natural Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 24th. UBS Group decreased their target price on Core Natural Resources from $107.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Weiss Ratings downgraded shares of Core Natural Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 23rd. Wall Street Zen upgraded shares of Core Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Core Natural Resources in a research report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $112.50.

Hedge Funds Weigh In On Core Natural Resources

A number of hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC raised its holdings in Core Natural Resources by 89.0% in the fourth quarter. Corient Private Wealth LLC now owns 5,053 shares of the energy company’s stock worth $447,000 after buying an additional 2,379 shares during the last quarter. Alberta Investment Management Corp bought a new position in shares of Core Natural Resources during the fourth quarter valued at $1,567,000. Regal Partners Ltd purchased a new stake in shares of Core Natural Resources during the fourth quarter valued at $4,148,000. Empowered Funds LLC boosted its position in shares of Core Natural Resources by 8.0% during the fourth quarter. Empowered Funds LLC now owns 19,533 shares of the energy company’s stock valued at $1,729,000 after buying an additional 1,440 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Core Natural Resources in the 4th quarter worth about $423,000. Institutional investors own 86.54% of the company’s stock.

About Core Natural Resources

Core Natural Resources, Inc, together with its subsidiaries, produces and sells bituminous coal in the United States and internationally. It operates through two segments, Pennsylvania Mining Complex (PAMC) and CONSOL Marine Terminal. The company’s PAMC segment engages in the mining, preparing, and marketing of bituminous coal to power generators, industrial end-users, and metallurgical end-users. This segment includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine, and the central preparation plant.