Core Natural Resources (NYSE:CNR) Announces Earnings Results, Misses Estimates By $2.01 EPS

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 quarterly earnings data on Tuesday. The energy company reported ($0.70) EPS 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 3.01% and a net margin of 0.63%.

Core Natural Resources Stock Up 0.3%

NYSE:CNR traded up $0.21 on Friday, reaching $76.14. The stock had a trading volume of 747,755 shares, compared to its average volume of 845,461. The company has a 50-day moving average of $72.66 and a 200 day moving average of $77.73. The company has a current ratio of 1.78, a quick ratio of 1.34 and a debt-to-equity ratio of 0.09. The stock has a market cap of $3.92 billion, a P/E ratio of 34.93 and a beta of 0.66. 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 company 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. This represents a yield of 57.0%. The ex-dividend date of this dividend was Friday, May 30th. Core Natural Resources's dividend payout ratio is presently 18.35%.

Institutional Trading of Core Natural Resources

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

Analyst Ratings Changes

A number of research firms have recently commented on CNR. UBS Group upped their price objective on Core Natural Resources from $78.00 to $86.00 and gave the stock a "buy" rating in a report on Friday. Jefferies Financial Group reiterated a "hold" rating and issued a $78.00 price target (up from $67.00) on shares of Core Natural Resources in a report on Tuesday. Benchmark lowered their price target on Core Natural Resources from $112.00 to $105.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, B. Riley lowered their price target on Core Natural Resources from $112.00 to $110.00 and set a "buy" rating for the company in a report 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $105.80.

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.