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Consol Energy (CEIX) Moves 11.2% Higher: Will This Strength Last?
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Consol Energy (CEIX - Free Report) shares soared 11.2% in the last trading session to close at $15.31. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 39.5% gain over the past four weeks.
CONSOL Energy’s first-quarter earnings per share were better than expected. The company is gaining from strong production volumes, proper cost management and higher demand for coal from domestic and international customers. Demand for its products continues to improve and the company was able to penetrate several new markets internationally.
Courtesy of strong performance the company continued with debt repurchase in first quarter and strengthened its balance sheet. With the new authorization from its board of directors, CONSOL Energy now has $132 million under the program to repurchase outstanding notes and shares.
Price and Consensus
This coal company is expected to post quarterly earnings of $0.22 per share in its upcoming report, which represents a year-over-year change of +131.9%. Revenues are expected to be $272.8 million, up 67.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Consol Energy, the consensus EPS estimate for the quarter has been revised 24.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CEIX going forward to see if this recent jump can turn into more strength down the road.
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Consol Energy (CEIX) Moves 11.2% Higher: Will This Strength Last?
Consol Energy (CEIX - Free Report) shares soared 11.2% in the last trading session to close at $15.31. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 39.5% gain over the past four weeks.
CONSOL Energy’s first-quarter earnings per share were better than expected. The company is gaining from strong production volumes, proper cost management and higher demand for coal from domestic and international customers. Demand for its products continues to improve and the company was able to penetrate several new markets internationally.
Courtesy of strong performance the company continued with debt repurchase in first quarter and strengthened its balance sheet. With the new authorization from its board of directors, CONSOL Energy now has $132 million under the program to repurchase outstanding notes and shares.
Price and Consensus
This coal company is expected to post quarterly earnings of $0.22 per share in its upcoming report, which represents a year-over-year change of +131.9%. Revenues are expected to be $272.8 million, up 67.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Consol Energy, the consensus EPS estimate for the quarter has been revised 24.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CEIX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>