Brokerages Anticipate Hi-Crush Partners LP (HCLP) to Announce $0.50 Earnings Per Share

Brokerages forecast that Hi-Crush Partners LP (NYSE:HCLP) will announce earnings per share of $0.50 for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Hi-Crush Partners’ earnings, with the highest EPS estimate coming in at $0.54 and the lowest estimate coming in at $0.44. Hi-Crush Partners reported earnings per share of ($0.11) in the same quarter last year, which would indicate a positive year-over-year growth rate of 554.5%. The company is expected to announce its next quarterly earnings results on Tuesday, February 20th.

On average, analysts expect that Hi-Crush Partners will report full year earnings of $0.97 per share for the current financial year, with EPS estimates ranging from $0.92 to $1.01. For the next fiscal year, analysts expect that the firm will post earnings of $2.29 per share, with EPS estimates ranging from $1.69 to $2.60. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Hi-Crush Partners.

Hi-Crush Partners (NYSE:HCLP) last issued its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.08). Hi-Crush Partners had a return on equity of 5.01% and a net margin of 7.09%. The company had revenue of $167.58 million for the quarter, compared to the consensus estimate of $168.95 million. During the same period in the prior year, the company earned ($0.21) EPS. The firm’s revenue was up 259.9% on a year-over-year basis.

Several brokerages recently commented on HCLP. Cowen set a $12.00 target price on shares of Hi-Crush Partners and gave the stock a “buy” rating in a report on Wednesday, October 18th. Barclays began coverage on shares of Hi-Crush Partners in a report on Friday, December 15th. They set an “equal weight” rating and a $12.00 target price for the company. BidaskClub upgraded shares of Hi-Crush Partners from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Seaport Global Securities began coverage on shares of Hi-Crush Partners in a report on Friday, December 8th. They set a “buy” rating and a $17.00 target price for the company. Finally, TheStreet upgraded shares of Hi-Crush Partners from a “d+” rating to a “c+” rating in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company. Hi-Crush Partners has an average rating of “Buy” and an average price target of $16.08.

Shares of Hi-Crush Partners (HCLP) traded down $0.25 during mid-day trading on Monday, hitting $9.95. 2,403,300 shares of the stock traded hands, compared to its average volume of 1,870,411. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.29. Hi-Crush Partners has a 52 week low of $7.25 and a 52 week high of $23.30. The company has a market capitalization of $928.51, a P/E ratio of 31.88 and a beta of 0.94.

Hi-Crush Partners announced that its Board of Directors has approved a share repurchase plan on Tuesday, October 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the basic materials company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

A number of hedge funds have recently made changes to their positions in HCLP. Russell Investments Group Ltd. lifted its stake in Hi-Crush Partners by 84.4% in the second quarter. Russell Investments Group Ltd. now owns 40,747 shares of the basic materials company’s stock valued at $442,000 after acquiring an additional 18,648 shares during the last quarter. Global X Management Co. LLC acquired a new stake in Hi-Crush Partners in the second quarter valued at $225,000. Wedbush Securities Inc. acquired a new stake in Hi-Crush Partners in the second quarter valued at $258,000. Bank of New York Mellon Corp lifted its stake in Hi-Crush Partners by 70.1% in the second quarter. Bank of New York Mellon Corp now owns 20,462 shares of the basic materials company’s stock valued at $222,000 after acquiring an additional 8,431 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Hi-Crush Partners by 7.3% in the second quarter. BNP Paribas Arbitrage SA now owns 298,697 shares of the basic materials company’s stock valued at $3,241,000 after acquiring an additional 20,451 shares during the last quarter. Hedge funds and other institutional investors own 43.87% 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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