B. Riley Has Positive View of CONSOL Energy FY2024 Earnings

CONSOL Energy Inc. (NYSE:CEIX) – Investment analysts at B. Riley boosted their FY2024 earnings per share estimates for CONSOL Energy in a research report issued to clients and investors on Wednesday, November 6th. B. Riley analyst L. Pipes now forecasts that the company will post earnings per share of $11.57 for the year, up from their prior forecast of $11.50. B. Riley has a “Buy” rating and a $138.00 price objective on the stock. The consensus estimate for CONSOL Energy’s current full-year earnings is $11.50 per share. B. Riley also issued estimates for CONSOL Energy’s Q4 2024 earnings at $3.00 EPS and FY2025 earnings at $15.99 EPS.

CONSOL Energy (NYSE:CEIX) last posted its earnings results on Tuesday, November 5th. The company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.17 by $0.05. The firm had revenue of $574.90 million during the quarter, compared to analysts’ expectations of $554.00 million. CONSOL Energy had a return on equity of 30.50% and a net margin of 18.28%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.11 earnings per share.

CONSOL Energy Stock Up 0.4 %

CEIX stock opened at $128.14 on Friday. The company’s 50 day moving average is $104.38 and its two-hundred day moving average is $98.62. CONSOL Energy has a twelve month low of $75.43 and a twelve month high of $129.97. The company has a current ratio of 1.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.77 billion, a P/E ratio of 9.48 and a beta of 1.73.

Institutional Trading of CONSOL Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Moran Wealth Management LLC increased its holdings in shares of CONSOL Energy by 1.4% in the 3rd quarter. Moran Wealth Management LLC now owns 31,984 shares of the company’s stock valued at $3,347,000 after acquiring an additional 450 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in CONSOL Energy by 13.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,828 shares of the company’s stock worth $715,000 after purchasing an additional 804 shares during the last quarter. Avior Wealth Management LLC acquired a new position in CONSOL Energy in the third quarter valued at $145,000. Quest Partners LLC acquired a new position in CONSOL Energy in the third quarter valued at $104,000. Finally, Empowered Funds LLC raised its holdings in shares of CONSOL Energy by 14.7% in the third quarter. Empowered Funds LLC now owns 100,288 shares of the company’s stock valued at $10,495,000 after buying an additional 12,882 shares during the last quarter. 86.54% of the stock is owned by hedge funds and other institutional investors.

CONSOL Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.78%. CONSOL Energy’s dividend payout ratio (DPR) is presently 1.85%.

About CONSOL Energy

CONSOL Energy 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.