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

CVR Energy (NYSE:CVI - Get Free Report) released its quarterly earnings results 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 company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.91 billion. CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. The firm's quarterly revenue was down 27.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 EPS.

CVR Energy Stock Performance

CVR Energy stock traded down $5.77 during mid-day trading on Tuesday, hitting $18.05. 9,420,517 shares of the company's stock traded hands, compared to its average volume of 1,076,653. CVR Energy has a one year low of $17.50 and a one year high of $38.07. The company has a market cap of $1.81 billion, a PE ratio of 2.77 and a beta of 1.48. The firm has a 50 day moving average price of $23.73 and a 200 day moving average price of $26.37. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 1.51.

Analysts Set New Price Targets

Several brokerages have weighed in on CVI. Tudor Pickering raised shares of CVR Energy to a "strong sell" rating in a report on Monday, September 9th. JPMorgan Chase & Co. cut their price objective on CVR Energy from $26.00 to $23.00 and set an "underweight" rating on the stock in a research note on Wednesday, October 2nd. Scotiabank dropped their price target on CVR Energy from $25.00 to $21.00 and set a "sector underperform" rating on the stock in a research report on Thursday, October 10th. Tudor, Pickering, Holt & Co. lowered shares of CVR Energy from a "hold" rating to a "sell" rating in a research note on Monday, September 9th. Finally, UBS Group decreased their price target on shares of CVR Energy from $33.75 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, August 13th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, CVR Energy presently has an average rating of "Reduce" and a consensus 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.