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Could Consol Energy Beat Its 4Q16 Earnings Estimates?

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Odds of beating earnings estimates

In the last four quarters, Consol Energy (CNX) has beaten EPS (earnings per share) expectations 25.0% of the time.

In 3Q16, excluding one-time items, the company missed the consensus EPS estimate by $0.03 per share. But it reported revenues of ~$746.0 million, which was ~34.0% higher than Wall Street analysts’ revenue consensus of ~$558.0 million.

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CNX stock after 3Q16 EPS miss

Consol Energy reported its 3Q16 earnings before the market opened on November 1, 2016. Following its earnings release, a contrarian reaction that was worse than expected saw CNX stock rise ~11.0% in just one session.

Other oil and gas producers

In the last four quarters, other upstream players such as Pioneer Natural Resources (PXD), Devon Energy (DVN), and Murphy Oil (MUR) have beaten earnings expectations ~75.0%, ~100.0%, and ~75.0% of the time, respectively. The Vanguard Energy ETF (VDE) invests in the broader energy market.

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