Hi-Crush Partners LP (NYSE:HCLP) – Investment analysts at Jefferies Group reduced their Q1 2018 earnings per share (EPS) estimates for shares of Hi-Crush Partners in a report released on Thursday. Jefferies Group analyst B. Handler now forecasts that the basic materials company will post earnings of $0.61 per share for the quarter, down from their prior forecast of $0.62. Jefferies Group also issued estimates for Hi-Crush Partners’ Q2 2018 earnings at $0.67 EPS, Q3 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.57 EPS, FY2018 earnings at $2.50 EPS, FY2019 earnings at $2.00 EPS and FY2020 earnings at $1.70 EPS.
A number of other brokerages also recently commented on HCLP. Barclays started coverage on Hi-Crush Partners in a research note on Friday, December 15th. They issued an “equal weight” rating and a $12.00 target price on the stock. R. F. Lafferty started coverage on Hi-Crush Partners in a research note on Wednesday, February 14th. They issued a “buy” rating and a $23.00 target price on the stock. Seaport Global Securities assumed coverage on Hi-Crush Partners in a research note on Friday, December 8th. They issued a “buy” rating and a $17.00 target price on the stock. ValuEngine raised Hi-Crush Partners from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Finally, TheStreet raised Hi-Crush Partners from a “d+” rating to a “c+” rating in a report on Wednesday, November 1st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Hi-Crush Partners presently has a consensus rating of “Buy” and a consensus target price of $17.07.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Thursday, February 1st were issued a $0.20 dividend. This is a boost from Hi-Crush Partners’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $0.80 dividend on an annualized basis and a yield of 6.45%. Hi-Crush Partners’s dividend payout ratio is presently 250.00%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Malaga Cove Capital LLC raised its holdings in shares of Hi-Crush Partners by 27.1% during the third quarter. Malaga Cove Capital LLC now owns 83,019 shares of the basic materials company’s stock valued at $791,000 after acquiring an additional 17,721 shares during the last quarter. Ninepoint Partners LP acquired a new position in shares of Hi-Crush Partners during the third quarter valued at approximately $15,200,000. L & S Advisors Inc raised its holdings in shares of Hi-Crush Partners by 161.9% during the third quarter. L & S Advisors Inc now owns 134,575 shares of the basic materials company’s stock valued at $1,278,000 after acquiring an additional 83,200 shares during the last quarter. Covenant Asset Management LLC acquired a new position in shares of Hi-Crush Partners during the fourth quarter valued at approximately $444,000. Finally, Clear Harbor Asset Management LLC raised its holdings in shares of Hi-Crush Partners by 69.5% during the third quarter. Clear Harbor Asset Management LLC now owns 796,137 shares of the basic materials company’s stock valued at $7,563,000 after acquiring an additional 326,414 shares during the last quarter. 40.98% of the stock is owned by institutional investors.
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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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