CNX Resources Corp [CNX] stock is trading at $20.73, down -0.05%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The CNX shares have gain 3.75% over the last week, with a monthly amount glided 3.24%, and seem to be holding up well over a long-time horizon.
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On 23, February 2024, CNX Resources Corporation Announces Closing of $400 Million Senior Notes Offering. In a post published today on Yahoo Finance, CNX Resources Corporation (NYSE: CNX) (“CNX,” “we,” or “our”) today announced the closing of its private placement of $400 million aggregate principal amount of its 7.250% senior notes due 2032 (the “Notes”). The Notes were offered under an indenture, dated February 23, 2024 (the “Indenture”), among CNX, the subsidiary guarantors party thereto and UMB Bank, N.A., as trustee. The Notes are guaranteed by all of CNX’s wholly-owned domestic restricted subsidiaries that guarantee its revolving credit facility.
From an analyst’s perspective:
CNX Resources Corp [NYSE: CNX] stock has seen the most recent analyst activity on January 05, 2024, when BofA Securities upgraded its rating to a Neutral but kept the price target unchanged to $23 for it. Previously, Mizuho upgraded its rating to Neutral on January 03, 2024. On December 04, 2023, upgrade upgraded it’s rating to Buy and revised its price target to $27 on the stock. Scotiabank downgraded its rating to a Sector Underperform. Stephens initiated its recommendation with a Equal-Weight and recommended $17 as its price target on April 25, 2023. Mizuho started tracking with a Underperform rating for this stock on January 10, 2023, and assigned it a price target of $19. In a note dated September 19, 2022, BofA Securities reiterated an Underperform rating on this stock and revised its target price from $25 to $23.
CNX Resources Corp [CNX] stock has fluctuated between $14.36 and $23.68 over the past year. Currently, Wall Street analysts expect the stock to reach $28.33 within the next 12 months. CNX Resources Corp [NYSE: CNX] shares were valued at $20.73 at the most recent close of the market. An investor can expect a potential return of 36.66% based on the average CNX price forecast.
Analyzing the CNX fundamentals
CNX Resources Corp [NYSE:CNX] reported sales of 1.50B for the trailing twelve months, which represents a drop of -54.53%. Gross Profit Margin for this corporation currently stands at -0.03% with Operating Profit Margin at -0.22%, Pretax Profit Margin comes in at -0.24%, and Net Profit Margin reading is -0.51%. To continue investigating profitability, this company’s Return on Assets is posted at -1.53, Equity is -2.61 and Total Capital is -22.65. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at -6.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 20.44 points at the first support level, and at 20.14 for the second support level. However, for the 1st resistance point, the stock is sitting at 20.89, and for the 2nd resistance point, it is at 21.04.
CNX Resources Corp [CNX] reported earnings per share of $0.67 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.29/share, meaning a difference of $0.38 and a surprise factor of 131.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.35 per share as compared to estimates of $0.32 per share, a difference of $0.03 representing a surprise of 9.40%.
Ratios To Look Out For
For context, CNX Resources Corp’s Current Ratio is 0.51. Further, the Quick Ratio stands at 0.49, while the Cash Ratio is 0.05. Considering the valuation of this stock, the price to sales ratio is 2.09, the price to book ratio is 0.73 and price to earnings (TTM) ratio is 2.29.
Transactions by insiders
Recent insider trading involved LANIGAN BERNARD JR, Director, that happened on Sep 18 when 45805.0 shares were purchased. Director, LANIGAN BERNARD JR completed a deal on Sep 15 to buy 98635.0 shares. Meanwhile, Director LANIGAN BERNARD JR bought 28390.0 shares on Jun 30.
