What does an Overweight rating mean for CNX Midstream Partners LP (CNXM) stock?

CNX Midstream Partners LP (NYSE:CNXM) closed the previous session at $13.54, down by -0.26 or -1.88% lower on its price over the last trading period. Shares of the company have traded -5.25% down in the last 5 days, with the price reaching as high as $14.29 since 11/18/19. The stock however has recovered since hitting 5-day low of $13.54. The CNXM stock is -13.80% lower than the $15.71 top value it marked over a period of month. CNX Midstream Partners LP (NYSE:CNXM) has a 52-week price range of $12.95- $18.96. The stock is -16.83% down year-to-date. Can CNXM go on to record further gains or will the drop below $13.80 be witnessed again in coming days?

What do analysts say about the CNX Midstream Partners LP (NYSE:CNXM) stock in terms of estimates, with 5 ratings?. The analysts’ current recommendation for the stock is a Overweight, versus Overweight a month ago and a Overweight rating 3-month ago. The total number of analysts who have rated CNXM as a buy is 1, with just 0 of 5 recommending it as a Sell. 5 analysts of the 0 rated it as underweight; while 3 advised Hold and a further 1 say the stock is Overweight.

Lets us now look at some key statistics for the company and see what they tell us about its books. CNX Midstream Partners LP has a market valuation of $843.27 million, with its Enterprise Value at $1.6 billion. The enterprise value (EV) is 47.3% off CNX Midstream Partners LP’s market cap. Shares traded in the last session stood at 545302 while the average trading volume is 323.64K. Insiders own 34.25% of the shares institutions own 49.80% as outstanding shares currently stand at 62.28 million. When we look at the 20-day simple moving average, CNXM is -5.11%, while that moves to -4.09% over its 50-day SMA and the SMA200 is -7.44%.

When we look at the consensus estimate for CNXM shares, we find that Wall Street analysts have given the average target price of $15.40. The earnings estimate for the current quarter is 0.53, lower than the 0.58 expected for the next quarter. The stock has earnings per share estimate ranging between a low of 0.49 and a high of 0.59, with the coefficient variance at 8.40. For this fiscal year, the estimate climbs to 4.00 versus the 4.00 expected for the next year. CNXM has current-year EPS range between a low of 2.17 and a high of 2.28, with the coefficient variance at 2.31.

The stock’s trailing per-earning (P/E) is $5.95 while the forward P/E is $5.20. The company’s trailing 12-month price-to-sales ratio is 2.86. In terms of profitability, the company has a profit margin of 49.10% and a trailing 12-month (ttm) operating margin of 68.80%. The company’s gross margin is 86.60%. CNXM is one of the hottest stocks right now and that shows in its potential upside on returns with a 13.70% ROA for the last 12 months and a return on equity (ROE) of 43.00% over the same period.

For the fiscal quarter ending 12/30/2018, CNX Midstream Partners LP had revenue of $73.95M. The earnings per share for the most recent quarter were 0.59. The EPS for the recent quarter beat consensus estimates by $0.13 per share after analysts had predicted $0.46. EPS posted in 3 out of the last 4 quarters have beaten analysts’ estimates. The company’s total fiscal year 2019 revenue is $256.67 billion and an EPS of $2.28, while the annualized dividend $1.60.

The investor community is excited about the CNXM stock, with the Barchart 64% Sell showing that the stock could be headed for a massive downtrend. The stock’s 1-month chart already shows that the stock is 0.82% up and -5.45% lower in the last 3 months. Its 12-month performance is showing the stock trending lower by -22.89%. There might be a slight pullback as $13.83 is the first resistance point and if crossed $14.13 should come in play as the second resistance level. CNXM could see support around 13.39 and will later test the 13.25 support.