Hi-Crush Partners LP (NYSE:HCLP) – Investment analysts at B. Riley increased their Q4 2017 earnings per share estimates for Hi-Crush Partners in a report released on Friday. B. Riley analyst L. Pipes now expects that the basic materials company will earn $0.45 per share for the quarter, up from their previous estimate of $0.44. B. Riley currently has a “Buy” rating and a $16.00 target price on the stock. B. Riley also issued estimates for Hi-Crush Partners’ Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.61 EPS, Q3 2018 earnings at $0.65 EPS, Q4 2018 earnings at $0.60 EPS, FY2018 earnings at $2.43 EPS and FY2019 earnings at $2.53 EPS.
HCLP has been the topic of a number of other research reports. Piper Jaffray Companies began coverage on Hi-Crush Partners in a research note on Monday, September 25th. They set an “overweight” rating and a $11.75 price objective on the stock. BidaskClub raised Hi-Crush Partners from a “hold” rating to a “buy” rating in a report on Monday, October 23rd. ValuEngine raised Hi-Crush Partners from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research raised Hi-Crush Partners from a “sell” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, Johnson Rice raised Hi-Crush Partners from an “accumulate” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Monday, December 4th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $16.15.
Hi-Crush Partners (NYSE:HCLP) last announced its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the company earned ($0.21) EPS. The company’s revenue for the quarter was up 259.9% on a year-over-year basis.
Hi-Crush Partners declared 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 outstanding shares. This repurchase authorization permits the basic materials company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 13th. Investors of record on Thursday, February 1st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, January 31st. This is a positive change from Hi-Crush Partners’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.88%. Hi-Crush Partners’s payout ratio is presently 187.50%.
Several hedge funds have recently bought and sold shares of the stock. First National Bank of Mount Dora Trust Investment Services acquired a new position in Hi-Crush Partners in the 4th quarter valued at $107,000. GSA Capital Partners LLP acquired a new position in Hi-Crush Partners in the 3rd quarter valued at $129,000. Advisor Group Inc. grew its holdings in Hi-Crush Partners by 80.5% in the 3rd quarter. Advisor Group Inc. now owns 15,780 shares of the basic materials company’s stock valued at $151,000 after buying an additional 7,036 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new position in Hi-Crush Partners in the 3rd quarter valued at $190,000. Finally, CAPROCK Group Inc. acquired a new position in Hi-Crush Partners in the 3rd quarter valued at $190,000. 43.19% of the stock is currently owned by institutional investors and hedge funds.
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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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