Ciner Resources LP (NYSE:CINR) Issues Quarterly Earnings Results
Ciner Resources LP (NYSE:CINR) issued its earnings results on Monday. The basic materials company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.53 by $0.12, Briefing.com reports. Ciner Resources had a return on equity of 15.52% and a net margin of 8.18%. The company had revenue of $119.70 million during the quarter, compared to the consensus estimate of $129.20 million. During the same quarter in the prior year, the business earned $0.52 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year.
Shares of Ciner Resources (CINR) opened at 23.85 on Wednesday. The stock’s 50 day moving average price is $27.52 and its 200-day moving average price is $28.53. The company has a market cap of $480.03 million, a P/E ratio of 11.30 and a beta of 0.97. Ciner Resources has a 12 month low of $22.61 and a 12 month high of $32.50.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Monday, August 7th will be paid a $0.567 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.27 annualized dividend and a yield of 9.51%. This is an increase from Ciner Resources’s previous quarterly dividend of $0.56. Ciner Resources’s dividend payout ratio (DPR) is currently 114.07%.
Several research analysts have commented on the company. Zacks Investment Research upgraded Ciner Resources from a “sell” rating to a “hold” rating in a research note on Thursday, May 18th. ValuEngine downgraded Ciner Resources from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub downgraded Ciner Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Ciner Resources presently has an average rating of “Hold” and a consensus target price of $32.50.
Ciner Resources Company Profile
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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