Wall Street analysts forecast that Ciner Resources LP (NYSE:CINR) will post sales of $122.71 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Ciner Resources’ earnings. The lowest sales estimate is $108.00 million and the highest is $130.92 million. Ciner Resources posted sales of $116.70 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.1%. The company is scheduled to report its next quarterly earnings report on Thursday, August 3rd.
On average, analysts expect that Ciner Resources will report full-year sales of $122.71 million for the current financial year, with estimates ranging from $495.00 million to $508.54 million. For the next fiscal year, analysts anticipate that the business will report sales of $508.44 million per share, with estimates ranging from $496.90 million to $518.42 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Ciner Resources.
Ciner Resources (NYSE:CINR) last released its quarterly earnings data on Monday, May 8th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by $0.02. The business had revenue of $126.60 million during the quarter, compared to the consensus estimate of $122.42 million. Ciner Resources had a net margin of 8.68% and a return on equity of 16.31%. Ciner Resources’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS.
CINR has been the topic of a number of analyst reports. FBR & Co reissued a “buy” rating on shares of Ciner Resources in a report on Friday, February 24th. Zacks Investment Research cut shares of Ciner Resources from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. Finally, ValuEngine cut shares of Ciner Resources from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $32.17.
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Shares of Ciner Resources (NYSE:CINR) traded up 0.28% during trading on Friday, hitting $28.34. The stock had a trading volume of 11,298 shares. The company’s 50 day moving average price is $28.27 and its 200 day moving average price is $29.18. Ciner Resources has a 52 week low of $26.25 and a 52 week high of $39.10. The company has a market capitalization of $570.40 million, a price-to-earnings ratio of 13.43 and a beta of 0.98.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CINR. Creative Planning boosted its position in Ciner Resources by 49.4% in the first quarter. Creative Planning now owns 3,735 shares of the basic materials company’s stock valued at $107,000 after buying an additional 1,235 shares during the last quarter. Central Bank & Trust Co. purchased a new position in Ciner Resources during the first quarter valued at $181,000. Advisory Services Network LLC purchased a new position in Ciner Resources during the first quarter valued at $305,000. Russell Investments Group Ltd. purchased a new position in Ciner Resources during the fourth quarter valued at $592,000. Finally, Geode Capital Management LLC boosted its position in Ciner Resources by 24.0% in the first quarter. Geode Capital Management LLC now owns 22,975 shares of the basic materials company’s stock valued at $655,000 after buying an additional 4,450 shares during the last quarter. 9.76% of the stock is currently owned by hedge funds and other institutional investors.
About Ciner Resources
Ciner Resources LP, through its subsidiary, Ciner Wyoming LLC (Ciner Wyoming), produces soda ash and serves a global market from its facility in the Green River Basin of Wyoming. The Company processes trona ore into soda ash, a raw material in flat glass, container glass, detergents, chemicals, paper and other consumer and industrial products.
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