Wall Street analysts forecast that CNX Resources Corporation. (CNX) will report quarterly earnings of $0.65 per share in its upcoming release, pointing to a year-over-year increase of 44.4%. It is anticipated that revenues will amount to $495.75 million, exhibiting an increase of 30.1% compared to the year-ago quarter.
The current level reflects a downward revision of 3% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific CNX Resources metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus estimate for 'NGLs - Gross Price' stands at $22.99. The estimate is in contrast to the year-ago figure of $23.94.
According to the collective judgment of analysts, 'Oil/Condensate - Gross Price' should come in at $54.41. Compared to the present estimate, the company reported $64.08 in the same quarter last year.
Analysts predict that the 'Average Daily Production' will reach 1,658.29 Mcfe/D. Compared to the current estimate, the company reported 1,542.4 Mcfe/D in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Total Production Volumes' should arrive at 149.25 Bcfe. Compared to the current estimate, the company reported 140.4 Bcfe in the same quarter of the previous year.
Analysts forecast 'Natural Gas - Sales Volume' to reach 137.11 MMcf. Compared to the present estimate, the company reported 128.94 MMcf in the same quarter last year.
Analysts expect 'Oil/Condensate - Sales Volume' to come in at 47.62 MBBL. Compared to the present estimate, the company reported 29 MBBL in the same quarter last year.
Analysts' assessment points toward 'NGL - Sales Volume' reaching 2,133.99 MBBL. Compared to the current estimate, the company reported 1,873 MBBL in the same quarter of the previous year.
View all Key Company Metrics for CNX Resources here>>>
Shares of CNX Resources have demonstrated returns of -6% over the past month compared to the Zacks S&P 500 composite's -8.9% change. With a Zacks Rank #3 (Hold), CNX is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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CNX Resources Corporation. (CNX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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