Arch Coal Inc. (ARCH) Given a $95.00 Price Target at B. Riley
ARCH has been the subject of several other reports. FBR & Co set a $96.00 price objective on Arch Coal and gave the company a buy rating in a research note on Wednesday, October 11th. Macquarie assumed coverage on Arch Coal in a research note on Thursday, September 7th. They issued a neutral rating and a $84.00 price objective for the company. Zacks Investment Research raised Arch Coal from a sell rating to a hold rating in a research note on Friday, October 13th. Stifel Nicolaus set a $92.00 price objective on Arch Coal and gave the company a buy rating in a research note on Friday, August 25th. Finally, Jefferies Group LLC reissued a buy rating on shares of Arch Coal in a research note on Thursday, September 21st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $93.00.
Shares of Arch Coal (NYSE:ARCH) traded down $0.40 during trading hours on Tuesday, hitting $78.45. The stock had a trading volume of 218,600 shares, compared to its average volume of 439,665. Arch Coal has a 52-week low of $60.13 and a 52-week high of $86.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.40 and a current ratio of 2.79.
Arch Coal (NYSE:ARCH) last announced its earnings results on Tuesday, October 31st. The energy company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.96. The business had revenue of $613.53 million for the quarter, compared to analysts’ expectations of $550.35 million. During the same quarter last year, the business earned ($1.43) EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. sell-side analysts expect that Arch Coal will post 9.62 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Wednesday, November 29th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Arch Coal by 10.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,801,011 shares of the energy company’s stock worth $123,010,000 after purchasing an additional 171,751 shares during the period. BlackRock Inc. boosted its holdings in Arch Coal by 242.4% during the 2nd quarter. BlackRock Inc. now owns 1,415,537 shares of the energy company’s stock valued at $96,680,000 after acquiring an additional 1,002,176 shares during the period. Davidson Kempner Capital Management LP boosted its holdings in Arch Coal by 51.2% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 999,951 shares of the energy company’s stock valued at $68,297,000 after acquiring an additional 338,500 shares during the period. Bank of New York Mellon Corp boosted its holdings in Arch Coal by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 995,469 shares of the energy company’s stock valued at $67,989,000 after acquiring an additional 22,752 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Arch Coal by 25.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 812,195 shares of the energy company’s stock valued at $55,674,000 after acquiring an additional 162,743 shares during the period.
About Arch Coal
Arch Coal, Inc is a coal producer. The Company is engaged in the production of thermal and metallurgical coal from surface and underground mines located throughout the United States, for sale to utility, industrial and steel producers both in the United States and around the world. The Company operates mining complexes in West Virginia, Kentucky, Maryland, Virginia, Illinois, Wyoming and Colorado.
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