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

Key Points

• Core Natural Resources beat quarterly earnings expectations, reporting $2.51 in EPS versus the $0.60 consensus estimate, while revenue reached $1.14 billion compared with forecasts of $1.11 billion.
• The company declared a quarterly dividend of $0.10 per share, equivalent to $0.40 annually and a 0.4% yield, with payment scheduled for September 18 to shareholders of record August 31.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $112.50 price target; however, recent ratings ranged from UBS lowering its target to $100 to Weiss Ratings downgrading the stock to “sell.”

Core Natural Resources (NYSE:CNR - Get Free Report) issued its quarterly earnings data on Thursday. The energy company reported $2.51 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $1.91, FiscalAI reports. Core Natural Resources had a return on equity of 0.03% and a net margin of 2.34%.The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion.

Core Natural Resources Stock Performance

Shares of NYSE CNR traded down $0.21 during trading hours on Friday, hitting $89.77. 608,314 shares of the company's stock were exchanged, compared to its average volume of 548,759. Core Natural Resources has a 1-year low of $68.78 and a 1-year high of $114.80. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.83 and a quick ratio of 1.21. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 2,999.32 and a beta of 0.14. The company's 50-day moving average price is $84.87 and its 200-day moving average price is $89.90.

Core Natural Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Monday, August 31st will be paid a $0.10 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. Core Natural Resources's payout ratio is presently -32.79%.

Institutional Trading of Core Natural Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Triumph Capital Management acquired a new position in shares of Core Natural Resources during the third quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Core Natural Resources by 84.9% in the second quarter. EverSource Wealth Advisors LLC now owns 416 shares of the energy company's stock worth $29,000 after acquiring an additional 191 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Core Natural Resources during the fourth quarter worth $38,000. Northwestern Mutual Wealth Management Co. increased its position in Core Natural Resources by 11,140.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 562 shares of the energy company's stock worth $50,000 after acquiring an additional 557 shares during the period. Finally, Parallel Advisors LLC raised its stake in Core Natural Resources by 666.7% during the 3rd quarter. Parallel Advisors LLC now owns 690 shares of the energy company's stock valued at $58,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 86.54% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on CNR. UBS Group reduced 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. Wall Street Zen upgraded Core Natural Resources from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Zacks Research raised shares of Core Natural Resources from a "strong sell" rating to a "hold" rating in a research report on Wednesday, June 24th. Weiss Ratings cut shares of Core Natural Resources from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, June 23rd. Finally, B. Riley Financial reaffirmed a "buy" rating on shares of Core Natural Resources in a report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $112.50.

Core Natural Resources Company Profile

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.

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