Ciner Resources LP (CINR) Plans Dividend Increase – $0.57 Per Share

Ciner Resources LP (NYSE:CINR) declared a quarterly dividend on Friday, July 28th, Fidelity reports. Investors of record on Monday, August 7th will be given a dividend of 0.567 per share by the basic materials company on Monday, August 21st. This represents a $2.27 dividend on an annualized basis and a yield of 9.49%. The ex-dividend date of this dividend is Thursday, August 3rd. This is a boost 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 research 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%.

Ciner Resources (NYSE CINR) traded down 5.27% during midday trading on Friday, reaching $23.91. 43,025 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $27.01 and its 200 day moving average is $28.29. Ciner Resources has a 1-year low of $22.61 and a 1-year high of $32.50. The stock has a market cap of $481.28 million, a P/E ratio of 12.02 and a beta of 0.97.

Ciner Resources (NYSE:CINR) last announced its quarterly earnings data on Monday, August 7th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.12. Ciner Resources had a net margin of 8.18% and a return on equity of 15.65%. The firm had revenue of $119.70 million during the quarter, compared to the consensus estimate of $129.20 million. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. Equities analysts anticipate that Ciner Resources will post $1.93 earnings per share for the current fiscal year.

CINR has been the topic of several analyst reports. BidaskClub cut Ciner Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 6th. Zacks Investment Research raised Ciner Resources from a “sell” rating to a “hold” rating in a report on Thursday, May 18th. ValuEngine lowered Ciner Resources from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $25.00 target price (down previously from $29.00) on shares of Ciner Resources in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Ciner Resources presently has an average rating of “Hold” and a consensus target price of $28.75.

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Ciner Resources Company Profile

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.

Dividend History for Ciner Resources (NYSE:CINR)

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