B. Riley Cuts Consol Energy (NYSE:CEIX) Price Target to $24.00

Consol Energy (NYSE:CEIX) had its price target dropped by equities researchers at B. Riley from $27.00 to $24.00 in a report released on Wednesday, Stock Target Advisor reports. The firm presently has a “buy” rating on the stock. B. Riley’s target price points to a potential upside of 84.76% from the stock’s previous close.

A number of other research firms have also commented on CEIX. ValuEngine upgraded shares of Consol Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Consol Energy from a “sell” rating to a “hold” rating in a research report on Monday, October 14th. Finally, Clarkson Capital restated a “buy” rating on shares of Consol Energy in a research report on Monday, September 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $38.67.

CEIX stock opened at $12.99 on Wednesday. The firm has a 50 day moving average of $14.91 and a 200-day moving average of $22.02. The company has a current ratio of 0.97, a quick ratio of 0.85 and a debt-to-equity ratio of 1.28. Consol Energy has a 12 month low of $11.97 and a 12 month high of $41.98. The firm has a market capitalization of $379.83 million, a P/E ratio of 2.41 and a beta of 1.06.

Consol Energy (NYSE:CEIX) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.41). Consol Energy had a net margin of 7.06% and a return on equity of 22.28%. The firm had revenue of $301.54 million during the quarter, compared to the consensus estimate of $343.95 million. During the same quarter last year, the business posted $0.20 earnings per share. Consol Energy’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts predict that Consol Energy will post 4.08 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in CEIX. WINTON GROUP Ltd boosted its position in shares of Consol Energy by 4.6% in the second quarter. WINTON GROUP Ltd now owns 250,469 shares of the company’s stock valued at $6,665,000 after acquiring an additional 10,903 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in Consol Energy during the second quarter valued at approximately $418,000. Arizona State Retirement System lifted its position in Consol Energy by 1.2% during the second quarter. Arizona State Retirement System now owns 42,831 shares of the company’s stock valued at $1,140,000 after purchasing an additional 504 shares during the last quarter. Strs Ohio lifted its position in Consol Energy by 24.6% during the second quarter. Strs Ohio now owns 27,900 shares of the company’s stock valued at $742,000 after purchasing an additional 5,500 shares during the last quarter. Finally, Bowling Portfolio Management LLC bought a new stake in Consol Energy during the second quarter valued at approximately $1,004,000. Institutional investors own 88.43% of the company’s stock.

About Consol Energy

CONSOL Energy Inc produces and exports bituminous coal. It owns and operates its mining operations in the Northern Appalachian Basin. The company owns and operates the Pennsylvania Mining Complex (PAMC), which comprises three underground mines, including Bailey, Enlow Fork, and Harvey; and CONSOL Marine Terminal located in the port of Baltimore.

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