Core Natural Resources (NYSE:CNR) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Core Natural Resources (NYSE:CNR) from a hold rating to a strong sell rating in a report released on Thursday,Zacks.com reports.

Several other research analysts have also weighed in on CNR. Wall Street Zen lowered shares of Core Natural Resources from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Benchmark reaffirmed a “buy” rating on shares of Core Natural Resources in a research report on Monday, November 10th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Core Natural Resources in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $111.38.

Core Natural Resources Stock Performance

Shares of CNR opened at $86.99 on Thursday. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of -28.90 and a beta of 0.34. The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $91.98 and its two-hundred day moving average is $85.42. Core Natural Resources has a 52-week low of $58.19 and a 52-week high of $103.50.

Core Natural Resources (NYSE:CNR) last released its quarterly earnings results on Thursday, February 12th. The energy company reported ($1.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.76). The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $996.54 million. Core Natural Resources had a negative return on equity of 4.05% and a negative net margin of 3.68%.The firm’s quarterly revenue was up 81.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 EPS. Analysts forecast that Core Natural Resources will post 11.4 EPS for the current fiscal year.

Core Natural Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, March 2nd. Core Natural Resources’s dividend payout ratio is -13.29%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CNR. CWM LLC grew its position in shares of Core Natural Resources by 45.7% during the 4th quarter. CWM LLC now owns 338 shares of the energy company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Core Natural Resources by 1.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 11,596 shares of the energy company’s stock valued at $968,000 after acquiring an additional 121 shares during the period. AlphaQuest LLC boosted its stake in Core Natural Resources by 4.2% in the third quarter. AlphaQuest LLC now owns 3,085 shares of the energy company’s stock valued at $258,000 after acquiring an additional 124 shares during the period. Maryland State Retirement & Pension System grew its holdings in shares of Core Natural Resources by 1.7% during the fourth quarter. Maryland State Retirement & Pension System now owns 7,526 shares of the energy company’s stock valued at $666,000 after purchasing an additional 126 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Core Natural Resources by 10.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,414 shares of the energy company’s stock worth $118,000 after purchasing an additional 128 shares during the period. 86.54% of the stock is owned by institutional investors and hedge funds.

About Core Natural Resources

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. This segment includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine, and the central preparation plant.