CNX Resources Corporation (NYSE:CNX) rose 0.9% in recent trade and currently has a stock-market value of $2.03B. The shares finished at $10.05, after trading as low as $9.94 earlier in the session. It hit an intraday high Wednesday at $10.2. Trading activity significantly weakened as the volume at ready counter decreased to 3,903,256 shares versus 4,014,320 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 3,709,617 shares. The stock is now 4.91% above against its bear-market low of $9.58 on February 11, 2019. It has retreated -82.79% since it’s 52-week high of $18.37 reached in July. Now the market price is down -22.87% on the year and down -12% YTD.
CNX’s 50 day simple moving average (SMA 50) price is $12.19 and its 200-day simple moving average (SMA 200) price is $14.74. The company’s stock currently has a total float of 194.96M shares. Its weekly volatility is hovering around 3.79% and felt 3.99% volatility in price over a month. On the upside, the share price will test short term resistance at around $10.19. On a downside, the stock is likely to find some support, which begins at $9.93. The failure to get near-term support could push it to $9.8.
Separately, it has been reported that multiple insider activity took place at CNX Resources Corporation (CNX). Director Lanigan Bernard Jr acquired 100,000 shares for $199,201 in transaction occurred on 2018/12/19. After making this transaction, the Director owns a direct stake of 1,195,000 shares, worth $2,001,970, as per the last closing price. On 2018/08/16 Clarkson J. Palmer, Director at CNX, purchased 10,000 shares at an average price of $14.9 per share. The new stake is valued at $572,528.
Director, Lally-Green Maureen had invested in 1,500 shares for $36,753 through a trade on 2018/02/13. Following this activity, the insider holds 19,485 shares worth $369,368 as of recent close. Wall Street’s most bullish CNX Resources Corporation (NYSE:CNX) analysts are predicting the share price to blow past $25 per share during the next 12 months. The current median share price forecast by them is $15, suggesting that the stock could increase 49.25% in that time frame. The average price target of $15.31 calls for a nearly 52.34% increase in the stock price.
It had seen a negative analyst call from Tudor Pickering, which downgraded the stock from Buy to Hold on February 01. Analysts at MKM Partners, started covering the stock on December 06 with a Buy rating. The stock lost favor of Goldman analysts who expressed their lack of confidence in it using a downgrade from Neutral to Sell on September 11. Raymond James analysts came out with bearish views on August 06 when the call was made. They think the stock is now Underperform compared to to their prior call for Mkt Perform.
When looking at valuations, CNX Resources Corporation (CNX) has a cheap P/E of 2.77x as compared to industry average of 7.35x. Moreover, it trades for 15.49 times the next 12 months of expected earnings. Also, it is trading at rather inexpensive levels at just over 0.49x price/book and 1.17x price/sales. Compared to others, CNX Resources Corporation is in a different league with regards to profitability, having net margins of 53.9%. To put some perspective around this, the industry’s average net margin is 17.01%. CNX’s ROE is 22.2%, which is also considerably worse than the industry’s ROE of 23.37%. It’s also not liquid in the near term, with a current ratio of 0.6. The stock has a debt/capital of 0.51.
Shares of CNX Resources Corporation (CNX) have dropped -26.4% since the company’s last earnings report. Over the past 12 fiscal quarters, CNX Resources Corporation (NYSE:CNX) has topped consensus earnings estimates in 8 quarters (66%), missed earnings in 4 quarters (33%), whereas at 0 occasion EPS met analyst expectations. CNX last reported earnings on January 31, 2019 when it released Dec-18 results that exceeded expectations. The company raked in $0.67 per share, -99.51% change on the same period last year. That was better than consensus for $0.28. Revenue for the recent quarter stood at $435.45 million, down -9% on last year and above the $432.47 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $376 million to $458 million, which should be compared with $495.1 million generated last year. EPS is seen in a range of $0.12 to $0.36, against the $0.19 reported a year ago.