CNX Midstream Partners LP (NYSE:CNXM) Expected to Announce Quarterly Sales of $71.71 Million

Equities analysts expect CNX Midstream Partners LP (NYSE:CNXM) to announce sales of $71.71 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for CNX Midstream Partners’ earnings, with the lowest sales estimate coming in at $66.20 million and the highest estimate coming in at $78.60 million. CNX Midstream Partners reported sales of $61.01 million in the same quarter last year, which indicates a positive year-over-year growth rate of 17.5%. The business is scheduled to announce its next earnings report before the market opens on Tuesday, July 30th.

According to Zacks, analysts expect that CNX Midstream Partners will report full-year sales of $291.03 million for the current year, with estimates ranging from $274.20 million to $313.30 million. For the next year, analysts expect that the business will report sales of $332.38 million, with estimates ranging from $321.70 million to $355.10 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow CNX Midstream Partners.

CNX Midstream Partners (NYSE:CNXM) last posted its earnings results on Tuesday, April 30th. The pipeline company reported $0.47 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.03). CNX Midstream Partners had a return on equity of 36.16% and a net margin of 53.32%. The firm had revenue of $72.22 million for the quarter, compared to analyst estimates of $68.55 million. During the same quarter last year, the firm posted $0.40 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis.

Several brokerages have weighed in on CNXM. TheStreet downgraded Hooker Furniture from a “b-” rating to a “c+” rating in a report on Friday, June 14th. Zacks Investment Research upgraded HENKEL AG & CO/S from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. Finally, ValuEngine downgraded USD Partners from a “hold” rating to a “sell” rating in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $20.80.

Institutional investors have recently modified their holdings of the company. Squar Milner Financial Services LLC acquired a new stake in shares of CNX Midstream Partners in the 1st quarter valued at about $25,000. PNC Financial Services Group Inc. lifted its holdings in CNX Midstream Partners by 18.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,350 shares of the pipeline company’s stock valued at $86,000 after purchasing an additional 850 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in CNX Midstream Partners by 15.6% during the 1st quarter. Penserra Capital Management LLC now owns 12,600 shares of the pipeline company’s stock valued at $191,000 after purchasing an additional 1,700 shares during the last quarter. Comerica Securities Inc. bought a new position in CNX Midstream Partners during the 4th quarter valued at about $244,000. Finally, American Financial Group Inc. lifted its holdings in CNX Midstream Partners by 25.0% during the 1st quarter. American Financial Group Inc. now owns 20,000 shares of the pipeline company’s stock valued at $304,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 49.28% of the company’s stock.

Shares of CNXM opened at $14.88 on Tuesday. The company has a fifty day simple moving average of $14.30. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.41 and a quick ratio of 0.41. The firm has a market cap of $925.68 million, a P/E ratio of 7.87 and a beta of 1.11. CNX Midstream Partners has a fifty-two week low of $13.43 and a fifty-two week high of $20.95.

About CNX Midstream Partners

CNX Midstream Partners LP owns, operates, develops, and acquires natural gas gathering and other midstream energy assets in the Marcellus Shale and Utica Shale in Pennsylvania and West Virginia. The company operates through two segments, Anchor Systems and Additional Systems. As of December 31, 2018, the company operated 14 compression and dehydration facilities.

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Earnings History and Estimates for CNX Midstream Partners (NYSE:CNXM)

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