Quarterly Dividend of $1.11 Planned by Alliance Resource (ARLP)
Alliance Resource (NASDAQ:ARLP) declared a quarterly dividend on Wednesday, January 30th. Stockholders of record on Thursday, February 7th will be given a dividend of $1.11 per share on Thursday, February 14th. This represents a $4.43 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date of this dividend is Tuesday, February 5th. This is a boost from Alliance Resource’s previous quarterly dividend of $1.09.
A number of research firms have also recently commented on ARLP. Analysts at Goldman Sachs upgraded shares of Alliance Resource to a “buy” rating in a research note to investors on Wednesday, January 9th. Analysts at Deutsche Bank upgraded shares of Alliance Resource from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, January 9th. They now have a $70.00 price target on the stock.
Eight analysts have rated the stock with a buy rating, and two have issued a hold rating to the stock. Alliance Resource presently has an average rating of “buy” and a consensus target price of $75.62.
Alliance Resource (ARLP) traded down 0.38% on Wednesday, hitting $63.70. Alliance Resource (ARLP) has a 52-week low of $50.42 and a 52-week high of $80.10. The stock’s 50-day moving average is currently $60.56. The company has a market cap of $2.349 billion and a price-to-earnings ratio of 16.63.
Alliance Resource last announced its earnings results on Tuesday, January 29th. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.55. The company had revenue of $549.41 million for the quarter, compared to the consensus estimate of $536.26 million. During the same quarter in the previous year, the company posted $1.93 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, analysts predict that Alliance Resource (ARLP) will post $6.71 earnings per share for the current fiscal year.
Alliance Resource Partners, L.P. (ARLP Partnership) is a producer and marketer of coal primarily to the United States utilities and industrial users.
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