Ciner Resources LP (NYSE:CINR) declared a quarterly dividend on Friday, July 28th, Fidelity reports. Stockholders of record on Monday, August 7th will be paid a dividend of 0.567 per share by the basic materials company on Monday, August 21st. This represents a $2.27 annualized dividend and a dividend yield of 8.37%. The ex-dividend date of this dividend is Thursday, August 3rd. This is an increase from Ciner Resources’s previous quarterly dividend of $0.56.
Ciner Resources has a payout ratio of 103.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Ciner Resources to earn $2.26 per share next year, which means the company may not be able to cover its $2.27 annual dividend with an expected future payout ratio of 100.4%.
Shares of Ciner Resources (NYSE:CINR) traded up 0.44% during trading on Wednesday, hitting $27.21. The stock had a trading volume of 795 shares. Ciner Resources has a one year low of $26.80 and a one year high of $32.50. The stock has a market capitalization of $547.66 million, a price-to-earnings ratio of 12.90 and a beta of 0.97. The stock has a 50 day moving average price of $27.67 and a 200-day moving average price of $28.57.
Ciner Resources (NYSE:CINR) last issued its quarterly earnings data on Monday, May 8th. The basic materials company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $126.60 million for the quarter, compared to the consensus estimate of $122.42 million. Ciner Resources had a return on equity of 16.31% and a net margin of 8.68%. The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. On average, equities research analysts predict that Ciner Resources will post $2.17 earnings per share for the current year.
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A number of brokerages recently weighed in on CINR. Zacks Investment Research lowered Ciner Resources from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. BidaskClub downgraded Ciner Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, July 6th. Finally, ValuEngine downgraded Ciner Resources from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $32.17.
About Ciner Resources
Ciner Resources LP, through its subsidiary, Ciner Wyoming LLC (Ciner Wyoming), produces soda ash and serves a global market from its facility in the Green River Basin of Wyoming. The Company processes trona ore into soda ash, a raw material in flat glass, container glass, detergents, chemicals, paper and other consumer and industrial products.
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