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CNX Resources (CNX) to Report Q4 Earnings: What's in Store?
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CNX Resources Corporation (CNX - Free Report) is scheduled to release fourth-quarter 2019 earnings on Jan 30, 2020, before the market opens. This exploration and production company delivered a positive earnings surprise of 33.3% in the last reported quarter.
Factors to Consider
CNX Resources brought in-line 24 wells in the third quarter, with majority of them starting production during the latter part of the quarter. Fourth-quarter production is expected to have benefited from the same.
The Zacks Consensus Estimate for fourth-quarter gas sales volume is pegged at 141 billion cubic feet equivalent, indicating year-over-year growth of 3.7%.
Share repurchases and the resultant drop in shares outstanding are anticipated to have had a positive impact on fourth-quarter earnings.
However, ongoing decline in commodity prices may have had an adverse impact on earnings in the to-be-reported quarter.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for CNX Resources this time around. A stock needs to have both a positive Earnings ESP (which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate) and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. That is not the case here as you will see below.
Devon Energy Corporation (DVN - Free Report) is slated to release fourth-quarter results on Feb 18. It has an Earnings ESP of +4.30% and a Zacks Rank #2.
Matador Resources Company (MTDR - Free Report) is slated to release fourth-quarter results on Feb 25. It has an Earnings ESP of +2.50% and a Zacks Rank #2.
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This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
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CNX Resources (CNX) to Report Q4 Earnings: What's in Store?
CNX Resources Corporation (CNX - Free Report) is scheduled to release fourth-quarter 2019 earnings on Jan 30, 2020, before the market opens. This exploration and production company delivered a positive earnings surprise of 33.3% in the last reported quarter.
Factors to Consider
CNX Resources brought in-line 24 wells in the third quarter, with majority of them starting production during the latter part of the quarter. Fourth-quarter production is expected to have benefited from the same.
The Zacks Consensus Estimate for fourth-quarter gas sales volume is pegged at 141 billion cubic feet equivalent, indicating year-over-year growth of 3.7%.
Share repurchases and the resultant drop in shares outstanding are anticipated to have had a positive impact on fourth-quarter earnings.
However, ongoing decline in commodity prices may have had an adverse impact on earnings in the to-be-reported quarter.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for CNX Resources this time around. A stock needs to have both a positive Earnings ESP (which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate) and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. That is not the case here as you will see below.
CNX Resources Corporation. Price and EPS Surprise
CNX Resources Corporation. price-eps-surprise | CNX Resources Corporation. Quote
Earnings ESP: The company’s Earnings ESP is -411.11%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, CNX Resources carries a Zacks Rank #3.
Stocks to Consider
Berry Petroleum Corporation (BRY - Free Report) is slated to release fourth-quarter results on Mar 4. It has an Earnings ESP of +3.66% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Devon Energy Corporation (DVN - Free Report) is slated to release fourth-quarter results on Feb 18. It has an Earnings ESP of +4.30% and a Zacks Rank #2.
Matador Resources Company (MTDR - Free Report) is slated to release fourth-quarter results on Feb 25. It has an Earnings ESP of +2.50% and a Zacks Rank #2.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained an impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>