Core Natural Resources (NYSE:CNR) Issues Earnings Results, Misses Estimates By $2.01 EPS
Core Natural Resources (NYSE:CNR) reported a quarterly EPS of ($0.70), missing estimates by ($2.01). The company has a net margin of 4.29% and a return on equity of 8.32%. Despite the earnings miss, CNR's stock rose 3.3% to $79.09. Analysts have adjusted price targets, with a consensus rating of "Moderate Buy" and an average price target of $118.60. Hedge funds hold 86.54% of the stock, indicating strong institutional interest.
Core Natural Resources (NYSE:CNR - Get Free Report) released its quarterly earnings results on Tuesday. The energy company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($2.01), Zacks reports. Core Natural Resources had a return on equity of 8.32% and a net margin of 4.29%.
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Core Natural Resources Stock Up 3.3%
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NYSE CNR traded up $2.53 during mid-day trading on Tuesday, hitting $79.09. The company's stock had a trading volume of 301,326 shares, compared to its average volume of 978,692. The company has a current ratio of 1.89, a quick ratio of 1.34 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 16.34 and a beta of 0.66. The company's 50 day simple moving average is $72.22 and its 200 day simple moving average is $78.96. Core Natural Resources has a twelve month low of $58.19 and a twelve month high of $134.59.
Core Natural Resources Cuts Dividend
The firm also recently declared a dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 57.0%. Core Natural Resources's dividend payout ratio (DPR) is presently 8.26%.
Analysts Set New Price Targets
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Several research analysts have issued reports on the stock. Benchmark lowered their price target on shares of Core Natural Resources from $112.00 to $105.00 and set a "buy" rating for the company in a report on Friday, May 9th. B. Riley reduced their price objective on shares of Core Natural Resources from $112.00 to $110.00 and set a "buy" rating for the company in a research report on Tuesday, July 22nd. Finally, UBS Group reduced their price objective on shares of Core Natural Resources from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Thursday, July 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Core Natural Resources has a consensus rating of "Moderate Buy" and an average price target of $118.60.
Read Our Latest Stock Analysis on Core Natural Resources
Hedge Funds Weigh In On Core Natural Resources
Hedge funds have recently bought and sold shares of the company. United Services Automobile Association purchased a new stake in shares of Core Natural Resources during the first quarter valued at approximately $256,000. AQR Capital Management LLC bought a new position in Core Natural Resources in the first quarter worth $796,000. NewEdge Advisors LLC bought a new position in shares of Core Natural Resources during the first quarter valued at $1,223,000. Intech Investment Management LLC bought a new position in shares of Core Natural Resources during the first quarter valued at $1,743,000. Finally, Royal Bank of Canada bought a new position in shares of Core Natural Resources during the first quarter valued at $2,037,000. 86.54% of the stock is owned by hedge funds and other institutional investors.
Core Natural Resources Company Profile
(Get Free Report)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.
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