CVR Energy (NYSE:CVI) was downgraded by investment analysts at Macquarie from a “neutral” rating to an “underperform” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $39.00 target price on the stock, down from their previous target price of $60.00. Macquarie’s target price would suggest a potential downside of 11.42% from the stock’s previous close.
CVR Energy (NYSE:CVI) traded down 4.01% on Thursday, hitting $44.03. CVR Energy has a 1-year low of $28.17 and a 1-year high of $72.32. The stock’s 50-day moving average is currently $47.22. The company has a market cap of $3.823 billion and a price-to-earnings ratio of 6.67.
CVR Energy (NYSE:CVI) last released its earnings data on Thursday, August 1st. The company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.39. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the company posted $2.52 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts predict that CVR Energy will post $5.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 19th. Stockholders of record on Monday, August 12th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 6.81%. The ex-dividend date is Thursday, August 8th.
CVR Energy, Inc (NYSE:CVI), through its wholly owned subsidiaries, acts as an independent petroleum refiner and marketer of transportation fuels in the mid-continental United States.
