The stock of CNX Resources Corporation (NYSE:CNX) increased by $0.04 on Wednesday to $21.91, up 0.16 percent. The last five days have seen an average of 2,651,749 shares of common stock traded. 37 times new highs were reached in the current year, with a gain of $5.08. The average number of shares traded over the last 20 days was 2,471,127, while the average volume over the last 50 days totaled 2,991,829.
CNX stock dropped -1.64% since last month. On 08/25/23, the company’s shares reached a one-month low of $21.39. The stock touched a high of $22.97 on 09/12/23, after rallying from a low of $14.36 in 52 weeks. The price of CNX stock has risen by 30.08% or $5.08 this year, reaching a new high 37 times. Still, the stock price is down -4.62% from the 52-week high.
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Insider Transactions
CNX stock investors should be aware that CNX Resources Corporation (CNX) stock had its last reported insider trading activity 2 days ago on Sep 18. On Sep 18, Director LANIGAN BERNARD JR acquired 45,805 shares at $21.83 each. This transaction resulted in the insider spending $999,923. On Sep 15, LANIGAN BERNARD JR added 98,635 shares at a price of US$22.00. After the transaction, the insider now owns 206,015 shares. Director LANIGAN BERNARD JR had earlier bought 28,390 shares on Jun 30 for $17.72 a share. The transaction was completed for $503,071.
Valuation Metrics
CNX Resources Corporation (CNX) has a trailing price-to-earnings (P/E) ratio of 2.10. Beta for the stock is 1.36. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.31, the price-to-book (PB) ratio of 0.90, and the price-to-cash flow ratio of 7.50.
Company paid $0.5125 per share in dividends, an increase of 5025.0% from $0.01 last year.
Financial Health
For the three months ended June 29, CNX Resources Corporation’s quick ratio was 0.50, while its current ratio was 0.60, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.54, and the total debt to equity ratio is 0.54. As far as profitability goes, gross margin for the trailing twelve months is 77.40% percent. CNX Resources Corporation’s EBITDA margin for the year ended June 29 was 78.15%, whereas its operating margin stood at 57.00% for the same period. Based on annual data, it had gross profit of -$60.43 million and revenue of $1.26 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CNX’s return on assets (ROA) during the last 12 months has been 22.70%. There was a 51.20% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 62.00%.
Earnings Surprise
According to CNX Resources Corporation’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $839.7 million, while revenues rose by 49.93% to $1.28 billion. It was predicted that CNX Resources Corporation’s quarterly earnings would be $0.3, but it ended up being $0.31, beating the consensus by -3.20%. EBITDA was $674.07 million for the quarter. At the end of CNX Resources Corporation’s most recent quarter ended June 29, its liabilities totaled 4.55 billion, while its total debt was $2.34 billion. Equity owned by shareholders amounts to $161.47 million.
Technical Picture
Here’s a quick look at CNX Resources Corporation’s (CNX) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 46.75%, suggesting the stock is Neutral, with a 19.83% historical volatility rate.
The stochastic %K and %D were 23.62% and 25.02% respectively, while the average true range (ATR) was 0.49. Based on the 14-day stochastic reading of 25.09%, the RSI (14) reading is 52.59%. On the 9-day MACD Oscillator, the stock is at -0.30, and the 14-day reading is at -0.37.
Analyst Ratings
CNX Resources Corporation (NYSE: CNX) was downgraded by Scotiabank to a a Sector underperform rating in its latest research report. The stock was previously rated as a a Sector perform. Analysts have assigned CNX Resources Corporation (CNX) an Hold rating. CNX is a stock that is recommended for selling by 3 brokerage firms, while 8 companies recommend holding. The stock is underweighted by 2 analysts. Among the analysts who rate the stock, 1 rate it overweight and 1 other recommend it as a buy.
What is CNX’s price target for the next 12 months?
The current consensus forecast for the stock is between $19.00 and $27.00, with a median target price of $21.50. In analyzing these forecasts, the average price target given by analysts for CNX Resources Corporation (CNX) is $22.08.
