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CNX Resources (CNX) to Report Q1 Earnings: What's in Store?
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CNX Resources Corporation (CNX - Free Report) is scheduled to release first-quarter 2020 earnings on Apr 27, before the market opens. This exploration and production company delivered a positive earnings surprise of 340% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
CNX Resources’ low production cash cost, which creates a competitive advantage, is likely to have aided the company’s performance in the quarter. A substantial portion of first-quarter production was hedged, which protected the company from price fluctuation.
Lower shares outstanding are anticipated to have had a positive impact on first-quarter earnings.
Q1 Expectation
The Zacks Consensus Estimate for first-quarter gas sales volume is pegged at 133 billion cubic feet equivalent, indicating year-over-year growth of 5.55%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for CNX Resources this time around. The combination of a positive Earnings ESP (which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate) and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
Earnings ESP: The company’s Earnings ESP is -27.67%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, CNX Resources carries a Zacks Rank #3.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Concho Resources Inc. is slated to release first-quarter results on Apr 30. It has an Earnings ESP of +1.39% and a Zacks Rank #3.
Talos Energy Inc. (TALO - Free Report) is slated to release first-quarter results on May 6. It has an Earnings ESP of +40.00% and a Zacks Rank #3.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
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CNX Resources (CNX) to Report Q1 Earnings: What's in Store?
CNX Resources Corporation (CNX - Free Report) is scheduled to release first-quarter 2020 earnings on Apr 27, before the market opens. This exploration and production company delivered a positive earnings surprise of 340% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
CNX Resources’ low production cash cost, which creates a competitive advantage, is likely to have aided the company’s performance in the quarter. A substantial portion of first-quarter production was hedged, which protected the company from price fluctuation.
Lower shares outstanding are anticipated to have had a positive impact on first-quarter earnings.
Q1 Expectation
The Zacks Consensus Estimate for first-quarter gas sales volume is pegged at 133 billion cubic feet equivalent, indicating year-over-year growth of 5.55%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for CNX Resources this time around. The combination of a positive Earnings ESP (which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate) and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
CNX Resources Corporation. Price and EPS Surprise
CNX Resources Corporation. price-eps-surprise | CNX Resources Corporation. Quote
Earnings ESP: The company’s Earnings ESP is -27.67%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, CNX Resources carries a Zacks Rank #3.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Southwestern Energy Company (SWN - Free Report) is slated to release first-quarter results on Apr 30. It has an Earnings ESP of +20.51% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Concho Resources Inc. is slated to release first-quarter results on Apr 30. It has an Earnings ESP of +1.39% and a Zacks Rank #3.
Talos Energy Inc. (TALO - Free Report) is slated to release first-quarter results on May 6. It has an Earnings ESP of +40.00% and a Zacks Rank #3.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>