CNX Resources Corp (CNX) Expected to Announce Quarterly Sales of $381.48 Million

Analysts expect that CNX Resources Corp (NYSE:CNX) will post $381.48 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for CNX Resources’ earnings, with the highest sales estimate coming in at $429.00 million and the lowest estimate coming in at $358.30 million. CNX Resources reported sales of $671.28 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 43.2%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, October 30th.

On average, analysts expect that CNX Resources will report full-year sales of $1.61 billion for the current financial year, with estimates ranging from $1.47 billion to $1.77 billion. For the next fiscal year, analysts expect that the company will post sales of $1.62 billion per share, with estimates ranging from $1.37 billion to $1.88 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow CNX Resources.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, August 2nd. The oil and gas producer reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.21. The firm had revenue of $402.12 million during the quarter, compared to analysts’ expectations of $381.22 million. CNX Resources had a return on equity of 2.37% and a net margin of 40.07%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS.

A number of research firms have recently commented on CNX. Zacks Investment Research upgraded shares of CNX Resources from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a research note on Wednesday, September 19th. ValuEngine downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th. Raymond James downgraded shares of CNX Resources from a “market perform” rating to an “underperform” rating in a research note on Monday, August 6th. They noted that the move was a valuation call. Finally, Goldman Sachs Group downgraded shares of CNX Resources from a “neutral” rating to a “sell” rating and set a $14.00 price objective for the company. in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $20.73.

In other CNX Resources news, Director J. Palmer Clarkson acquired 10,000 shares of CNX Resources stock in a transaction dated Thursday, August 16th. The stock was bought at an average cost of $14.90 per share, for a total transaction of $149,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Large investors have recently modified their holdings of the stock. Stratos Wealth Partners LTD. acquired a new stake in CNX Resources in the 1st quarter valued at about $118,000. Point72 Asia Hong Kong Ltd acquired a new stake in CNX Resources in the 1st quarter valued at about $123,000. Gargoyle Investment Advisor L.L.C. acquired a new stake in CNX Resources in the 1st quarter valued at about $170,000. Sciencast Management LP acquired a new stake in CNX Resources in the 1st quarter valued at about $174,000. Finally, Commonwealth Equity Services LLC lifted its stake in CNX Resources by 61.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 16,253 shares of the oil and gas producer’s stock valued at $250,000 after purchasing an additional 6,205 shares during the last quarter. Institutional investors and hedge funds own 95.60% of the company’s stock.

CNX stock opened at $14.70 on Friday. CNX Resources has a 1 year low of $11.69 and a 1 year high of $18.37. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.67 and a quick ratio of 0.65. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -91.88 and a beta of 1.04.

About CNX Resources

CNX Resources Corporation, an independent oil and natural gas company, explores for, develops, and produces natural gas in the Appalachian Basin. As of December 31, 2017, it had 7.6 trillion cubic feet equivalent of proved natural gas reserves. The company also owns, operates, and develops natural gas gathering and other midstream energy assets in the Marcellus Shale in Pennsylvania and West Virginia.

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