Core Natural Resources (NYSE:CNR) Announces Quarterly Earnings Results

Key Points

• Core Natural Resources reported an earnings per share (EPS) of ($0.70), missing the consensus estimate of $1.31 by ($2.01).
• The company's stock experienced a 3.3% increase in value, trading at $79.09 during mid-day trading.
• Dividend declared was $0.10 with a yield of 57.0% and the company has a current debt-to-equity ratio of 0.08.

Core Natural Resources (NYSE:CNR - Get Free Report) released its earnings results on Tuesday. The energy company reported ($0.70) earnings per share for the quarter, missing analysts' consensus estimates of $1.31 by ($2.01), Zacks reports. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.04 billion. Core Natural Resources had a return on equity of 3.47% and a net margin of 0.63%.

Core Natural Resources Stock Performance

NYSE:CNR traded down $1.19 during trading on Thursday, reaching $74.27. The company's stock had a trading volume of 319,751 shares, compared to its average volume of 976,395. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 34.07 and a beta of 0.66. The firm has a 50 day moving average of $72.33 and a 200-day moving average of $78.96. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.34 and a current ratio of 1.89. Core Natural Resources has a 12 month low of $58.19 and a 12 month high of $134.59.

Core Natural Resources Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 57.0%. Core Natural Resources's payout ratio is currently 8.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Jefferies Financial Group restated a "hold" rating and issued a $78.00 price target (up from $67.00) on shares of Core Natural Resources in a research report on Tuesday. UBS Group cut their price target on Core Natural Resources from $80.00 to $78.00 and set a "buy" rating for the company in a report on Thursday, July 3rd. Benchmark reduced their target price on Core Natural Resources from $112.00 to $105.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, B. Riley decreased their target price on shares of Core Natural Resources from $112.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Core Natural Resources has an average rating of "Moderate Buy" and a consensus price target of $104.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CNR. Royal Bank of Canada bought a new stake in shares of Core Natural Resources in the first quarter valued at $2,037,000. AQR Capital Management LLC purchased a new stake in shares of Core Natural Resources during the 1st quarter valued at approximately $796,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Core Natural Resources in the 1st quarter valued at approximately $2,413,000. NewEdge Advisors LLC purchased a new stake in shares of Core Natural Resources during the first quarter worth $1,223,000. Finally, United Services Automobile Association bought a new position in shares of Core Natural Resources in the first quarter worth $256,000. 86.54% of the stock is owned by institutional investors.

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.