CVR Energy (NYSE:CVI) Issues Earnings Results, Misses Expectations By $0.41 EPS

CVR Energy (NYSE:CVI) released its quarterly earnings data on Monday. The oil and gas company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41), Briefing.com reports. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.91 billion. CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. The firm’s revenue was down 27.3% compared to the same quarter last year. During the same period last year, the company earned $1.89 earnings per share.

CVR Energy Price Performance

Shares of NYSE:CVI opened at $18.05 on Wednesday. CVR Energy has a twelve month low of $17.50 and a twelve month high of $38.07. The company’s 50 day moving average is $23.73 and its 200 day moving average is $26.37. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The company has a market cap of $1.81 billion, a PE ratio of 26.16 and a beta of 1.48.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Mizuho decreased their price target on shares of CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Tudor, Pickering, Holt & Co. lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Tudor Pickering raised shares of CVR Energy to a “strong sell” rating in a research report on Monday, September 9th. Scotiabank decreased their price objective on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $24.75.

CVR Energy Company Profile

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.