Brokers expect CNX Resources Co. (NYSE:CNX) to post quarterly sales of $508.32 million
Brokers expect CNX Resources Co. (NYSE:CNX) to report revenue of $508.32 million for the current fiscal quarter, reports Zacks Investment Research. Six analysts provided CNX Resources earnings estimates. The highest sales estimate is $684.50 million and the lowest is $448.00 million. CNX Resources reported sales of $473.07 million in the same quarter last year, suggesting a positive year-over-year growth rate of 7.5%. The company is expected to release its next quarterly earnings report on Thursday, May 5.
On average, analysts expect CNX Resources to report annual revenue of $1.94 billion for the current year, with estimates ranging from $1.71 billion to $2.54 billion. For the next fiscal year, analysts expect the company to post sales of $1.91 billion, with estimates ranging from $1.67 billion to $2.25 billion. Zacks’ sell calculations are an average based on a survey of sell-side research analysts who cover CNX Resources.
Several research analysts have recently weighed in on CNX shares. Zacks Investment Research moved CNX Resources shares from a “buy” rating to a “hold” rating and set a price target of $15.00 for the company. in a research report on Thursday, December 9. Raymond James upgraded CNX Resources shares from an “outperform” rating to an “underperform” rating in a Tuesday, October 26 research report. Truist Financial lowered its price target on CNX Resources shares from $16.00 to $15.00 in a Friday, January 14 research report. Finally, JPMorgan Chase & Co. cut CNX Resources shares from an “overweight” rating to a “neutral” rating and lowered its price target for the stock from $20.00 to $18.00 in a research report of Tuesday, December 7. Two research analysts gave the stock a sell rating, four issued a hold rating and three issued a buy rating. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.00.
Several large investors have recently bought and sold shares of the stock. FMR LLC increased its stake in CNX Resources by 29.3% in the 1st quarter. FMR LLC now owns 3,326,024 shares of the oil and gas producer worth $35,821,000 after acquiring an additional 752,984 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in CNX Resources by 116.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,872 shares of the oil and gas producer valued at $25,000 after acquiring 1,007 additional shares during the period. Vanguard Group Inc. increased its stake in CNX Resources by 6.1% during the second quarter. Vanguard Group Inc. now owns 19,215,526 shares of the oil and gas producer valued at $262,483,000 after acquiring an additional 1,100,465 shares during the period. Geode Capital Management LLC increased its stake in CNX Resources by 4.1% during the second quarter. Geode Capital Management LLC now owns 3,684,687 shares of the oil and gas producer valued at $50,332,000 after acquiring an additional 143,663 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new stake in CNX Resources during the 2nd quarter at a value of $446,000. 91.54% of the shares are currently held by institutional investors.
CNX shares opened at $15.85 on Friday. The company has a market capitalization of $3.21 billion, a P/E ratio of -6.80, a PEG ratio of 0.20 and a beta of 1.34. The company has a debt ratio of 0.60, a current ratio of 0.48 and a quick ratio of 0.48. CNX Resources has a 1-year low of $10.41 and a 1-year high of $16.99. The company’s 50-day simple moving average is $14.89 and its 200-day simple moving average is $13.54.
About CNX Resources
CNX Resources Corp. is an independent natural gas exploration, development and production company with operations centered in the major shale formations of the Appalachian Basin. The company deploys an organic growth strategy focused on the responsible development of its resource base. The Company operates through Marcellus Shale and Coalbed Methane segments.
Get a Free Copy of Zacks Research Report at CNX Resources (CNX)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in CNX Resources right now?
Before you consider CNX resources, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market ripples…and CNX Resources was not on the list.
Although CNX Resources currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here