Hi-Crush Partners LP (HCLP) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS
Hi-Crush Partners LP (NYSE:HCLP) announced its quarterly earnings data on Tuesday. The basic materials company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.08), Bloomberg Earnings reports. The firm had revenue of $167.58 million during the quarter, compared to analysts’ expectations of $168.95 million. Hi-Crush Partners had a return on equity of 5.41% and a net margin of 7.09%. The company’s revenue was up 259.9% compared to the same quarter last year. During the same period last year, the business posted ($0.21) EPS.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.15 per share. The ex-dividend date is Monday, October 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.66%. Hi-Crush Partners’s dividend payout ratio (DPR) is presently 187.51%.
HCLP has been the subject of a number of recent analyst reports. Cowen and Company reaffirmed a “buy” rating and set a $12.00 target price on shares of Hi-Crush Partners in a report on Sunday, September 17th. UBS AG reduced their target price on Hi-Crush Partners from $23.00 to $17.00 and set a “buy” rating for the company in a report on Friday, August 4th. Jefferies Group LLC set a $15.00 target price on Hi-Crush Partners and gave the company a “buy” rating in a report on Monday, August 28th. BidaskClub raised Hi-Crush Partners from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Finally, Piper Jaffray Companies set a $12.00 target price on Hi-Crush Partners and gave the company a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $16.60.
Hi-Crush Partners announced that its Board of Directors has initiated a share buyback plan on Tuesday, October 17th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the basic materials company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Hi-Crush Partners Company Profile
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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