Analysts expect CNX Resources Co. (NYSE:CNX) to report $419.29 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for CNX Resources' earnings, with the highest sales estimate coming in at $547.00 million and the lowest estimate coming in at $370.00 million. CNX Resources posted sales of $66.08 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 534.5%. The company is expected to report its next quarterly earnings results on Thursday, November 4th.
On average, analysts expect that CNX Resources will report full year sales of $1.52 billion for the current year, with estimates ranging from $1.10 billion to $2.01 billion. For the next financial year, analysts anticipate that the company will report sales of $1.67 billion, with estimates ranging from $1.53 billion to $2.07 billion. Zacks' sales averages are a mean average based on a survey of sell-side analysts that follow CNX Resources.
CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, July 29th. The oil and gas producer reported $0.18 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.25 by ($0.07). The business had revenue of $359.00 million for the quarter, compared to analyst estimates of $390.40 million. CNX Resources had a positive return on equity of 4.05% and a negative net margin of 4.31%.
Several analysts have recently commented on CNX shares. BMO Capital Markets downgraded shares of CNX Resources from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $15.00 to $13.00 in a report on Friday, August 27th. Bank of America downgraded shares of CNX Resources from a "neutral" rating to an "underperform" rating and set a $15.00 target price for the company. in a report on Monday, June 21st. MKM Partners upgraded shares of CNX Resources from a "neutral" rating to a "buy" rating and increased their price target for the company from $15.00 to $16.00 in a research report on Thursday, July 8th. Raymond James reduced their price target on shares of CNX Resources from $18.00 to $15.00 and set an "outperform" rating for the company in a research report on Tuesday, August 31st. Finally, Wells Fargo & Company increased their price target on shares of CNX Resources from $19.00 to $20.00 and gave the company an "overweight" rating in a research report on Wednesday, May 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $15.58.
Large investors have recently modified their holdings of the business. Holocene Advisors LP bought a new position in CNX Resources during the first quarter worth about $1,808,000. Citigroup Inc. boosted its position in CNX Resources by 3.8% during the first quarter. Citigroup Inc. now owns 1,188,680 shares of the oil and gas producer's stock worth $17,474,000 after purchasing an additional 43,225 shares during the period. Hodges Capital Management Inc. bought a new position in CNX Resources during the second quarter worth about $2,835,000. Principal Financial Group Inc. boosted its position in CNX Resources by 14.5% during the first quarter. Principal Financial Group Inc. now owns 762,471 shares of the oil and gas producer's stock worth $11,208,000 after purchasing an additional 96,599 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of CNX Resources by 5.8% in the first quarter. Geode Capital Management LLC now owns 3,541,024 shares of the oil and gas producer's stock valued at $52,053,000 after acquiring an additional 193,408 shares during the period. Hedge funds and other institutional investors own 91.29% of the company's stock.
Shares of CNX stock opened at $12.11 on Wednesday. The firm has a 50-day moving average of $11.99 and a 200-day moving average of $13.34. The company has a market cap of $2.64 billion, a P/E ratio of -9.04, a P/E/G ratio of 0.42 and a beta of 1.54. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.41 and a quick ratio of 0.41. CNX Resources has a one year low of $8.31 and a one year high of $15.89.
About CNX Resources
CNX Resources Corp. is an independent natural gas exploration, development and production companies, with operations centered in the major shale formations of the Appalachian basin. The company deploys an organic growth strategy focused on responsibly developing its resource base. The firm operates through the Marcellus Shale, and Coalbed Methane segments.
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