CONSOL Energy (NYSE: CNX) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday. The firm currently has a $31.00 price target on the stock.
Zacks’ analyst wrote, “We have upgraded CONSOL Energy to Neutral from Underperform as its decision to invest more in liquid rich assets and shy away from natural gas activities bodes well in the present depressed gas price scenario. We believe CONSOL’s deep and diversified portfolio puts it at an advantage compared to peers. First quarter earnings per share were below our expectation as low gas prices and the increase in the cost per ton of coal production impacted the performance of the company. Dependence on a small group of consumers for bulk sales, along with stricter legislations and rigid penalties on underground mining, is of concern for underground miners like CONSOL Energy. However, its financial strength and increasing demand for thermal coal from developing Asian countries will benefit this low-cost coal producer. “
Several other analysts have also recently commented on the stock. Analysts at Dahlman Rose cut their price target on shares of CONSOL Energy from $40.00 to $38.00 in a research note to investors on Wednesday, May 2nd. They now have a “buy” rating on the stock. Separately, analysts at FBR Capital (NASDAQ: FBCM) cut their price target on shares of CONSOL Energy from $43.00 to $41.00 in a research note to investors on Monday, April 30th. They now have an “outperform” rating on the stock. Finally, analysts at UBS AG (NYSE: UBS) cut their price target on shares of CONSOL Energy from $46.00 to $44.00 in a research note to investors on Sunday, April 29th. They now have a “buy” rating on the stock.
Shares of CONSOL Energy traded up 0.07% during mid-day trading on Friday, hitting $29.59. CONSOL Energy has a one year low of $29.02 and a one year high of $55.02. The company has a market cap of $6.733 billion and a P/E ratio of 12.64.
CONSOL Energy last issued its quarterly earnings data on Thursday, April 26th. The company reported $0.42 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.58 by $0.16. CONSOL Energy’s revenue was down 2.7% compared to the same quarter last year. On average, analysts predict that CONSOL Energy will post $0.46 earnings per share next quarter.
CONSOL Energy Inc. (CONSOL Energy) is a producer of coal and natural gas for global energy and raw material markets, which include the electric power generation industry and the steelmaking industry.