Hi-Crush Partners LP (NYSE:HCLP) announced a quarterly dividend on Thursday, October 19th, Wall Street Journal reports. Stockholders of record on Tuesday, October 31st will be paid a dividend of 0.15 per share by the basic materials company on Tuesday, November 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date is Monday, October 30th.
Shares of Hi-Crush Partners (HCLP) opened at 9.65 on Friday. The company’s market capitalization is $878.44 million. The stock has a 50 day moving average price of $9.22 and a 200-day moving average price of $11.07. Hi-Crush Partners has a 12 month low of $7.25 and a 12 month high of $23.30.
Hi-Crush Partners (NYSE:HCLP) last issued its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The company had revenue of $135.22 million for the quarter, compared to analyst estimates of $138.61 million. Hi-Crush Partners had a negative net margin of 2.53% and a negative return on equity of 1.58%. Hi-Crush Partners’s revenue was up 251.9% compared to the same quarter last year. During the same period last year, the company posted ($0.26) earnings per share. Analysts forecast that Hi-Crush Partners will post $1.03 EPS for the current year.
Hi-Crush Partners announced that its Board of Directors has authorized a stock buyback 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
HCLP has been the subject of several recent analyst reports. Cowen and Company set a $12.00 target price on shares of Hi-Crush Partners and gave the company a “buy” rating in a research note on Wednesday. BidaskClub upgraded shares of Hi-Crush Partners from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Johnson Rice initiated coverage on shares of Hi-Crush Partners in a research note on Friday, June 23rd. They issued an “accumulate” rating and a $17.00 target price for the company. Zacks Investment Research downgraded shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, UBS AG lowered their target price on shares of Hi-Crush Partners from $23.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $16.58.
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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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