Hi-Crush Partners LP (NYSE:HCLP) – Research analysts at Jefferies Group reduced their Q1 2018 earnings per share estimates for shares of Hi-Crush Partners in a report released on Thursday, Zacks Investment Research reports. Jefferies Group analyst B. Handler now anticipates that the basic materials company will post earnings of $0.61 per share for the quarter, down from their previous forecast of $0.62. Jefferies Group also issued estimates for Hi-Crush Partners’ Q2 2018 earnings at $0.67 EPS, Q3 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.57 EPS, FY2018 earnings at $2.50 EPS, FY2019 earnings at $2.00 EPS and FY2020 earnings at $1.70 EPS.
Several other brokerages also recently weighed in on HCLP. Barclays started coverage on Hi-Crush Partners in a research report on Friday, December 15th. They issued an “equal weight” rating and a $12.00 price objective for the company. R. F. Lafferty started coverage on Hi-Crush Partners in a research report on Wednesday, February 14th. They issued a “buy” rating and a $23.00 price objective for the company. Seaport Global Securities started coverage on Hi-Crush Partners in a research report on Friday, December 8th. They issued a “buy” rating and a $17.00 price objective for the company. Guggenheim reiterated a “buy” rating and issued a $20.00 price objective on shares of Hi-Crush Partners in a research report on Friday, February 23rd. Finally, ValuEngine upgraded Hi-Crush Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Hi-Crush Partners currently has an average rating of “Buy” and a consensus target price of $16.66.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Thursday, February 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.30%. The ex-dividend date was Wednesday, January 31st. This is an increase from Hi-Crush Partners’s previous quarterly dividend of $0.15. Hi-Crush Partners’s dividend payout ratio is currently 88.89%.
Several institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. raised its holdings in shares of Hi-Crush Partners by 27.0% during the fourth quarter. Advisor Group Inc. now owns 20,047 shares of the basic materials company’s stock valued at $215,000 after acquiring an additional 4,267 shares in the last quarter. Malaga Cove Capital LLC grew its stake in Hi-Crush Partners by 5.2% in the fourth quarter. Malaga Cove Capital LLC now owns 87,364 shares of the basic materials company’s stock worth $935,000 after purchasing an additional 4,345 shares during the period. Valicenti Advisory Services Inc. grew its stake in Hi-Crush Partners by 6.1% in the third quarter. Valicenti Advisory Services Inc. now owns 131,425 shares of the basic materials company’s stock worth $1,249,000 after purchasing an additional 7,500 shares during the period. Penn Capital Management Co. Inc. grew its stake in Hi-Crush Partners by 44.8% in the fourth quarter. Penn Capital Management Co. Inc. now owns 24,284 shares of the basic materials company’s stock worth $260,000 after purchasing an additional 7,513 shares during the period. Finally, Barnett & Company Inc. grew its stake in Hi-Crush Partners by 20.8% in the fourth quarter. Barnett & Company Inc. now owns 43,895 shares of the basic materials company’s stock worth $470,000 after purchasing an additional 7,550 shares during the period. Institutional investors own 34.11% of the company’s stock.
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About Hi-Crush Partners
Hi-Crush Partners LP is an integrated producer, transporter, marketer and distributor of monocrystalline sand, a specialized mineral that is used as a proppant to manage the recovery rates of hydrocarbons from oil and natural gas wells. Its reserves consist of northern white sand, a resource in Wisconsin and limited portions of the upper Midwest region of the United States.
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