Westmoreland Coal Co. (WLB) Downgraded by Zacks Investment Research to Strong Sell
According to Zacks, “Westmoreland Coal Company’s principal activities are: the production and sale of coal from the Powder River Basin in eastern Montana; the ownership of interests in cogeneration and other non-regulated independent power plants; and the leasing of capacity at Dominion Terminal Associates, a coal storage and vessel loading facility. “
A number of other research firms have also recently weighed in on WLB. FBR & Co set a $12.00 price target on Westmoreland Coal and gave the company an outperform rating in a report on Thursday, October 13th. BMO Capital Markets reaffirmed a buy rating and set a $8.00 price target on shares of Westmoreland Coal in a report on Wednesday, August 3rd.
Westmoreland Coal (NASDAQ:WLB) opened at 9.27 on Tuesday. Westmoreland Coal has a 52-week low of $3.44 and a 52-week high of $12.97. The firm’s market cap is $172.13 million. The firm’s 50-day moving average price is $8.77 and its 200 day moving average price is $8.50.
Westmoreland Coal (NASDAQ:WLB) last issued its earnings results on Tuesday, August 2nd. The company reported ($1.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by $1.11. The business had revenue of $356.20 million for the quarter, compared to analysts’ expectations of $352.90 million. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Westmoreland Coal will post $1.66 earnings per share for the current year.
A number of large investors have recently made changes to their positions in the company. BlackRock Fund Advisors boosted its stake in shares of Westmoreland Coal by 3.9% in the second quarter. BlackRock Fund Advisors now owns 475,106 shares of the company’s stock valued at $4,523,000 after buying an additional 17,930 shares during the last quarter. BlackRock Investment Management LLC boosted its stake in shares of Westmoreland Coal by 9.4% in the second quarter. BlackRock Investment Management LLC now owns 76,878 shares of the company’s stock valued at $732,000 after buying an additional 6,606 shares during the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of Westmoreland Coal during the second quarter valued at approximately $204,000. GSA Capital Partners LLP purchased a new stake in shares of Westmoreland Coal during the second quarter valued at approximately $370,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Westmoreland Coal by 4.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 18,103 shares of the company’s stock valued at $172,000 after buying an additional 806 shares during the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.
Westmoreland Coal Company Profile
Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal – U.S., Coal – Canada, Coal – Westmoreland Resource Partners, LP (WMLP), Power, Heritage and Corporate. Coal – U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico.
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