Equities Analysts Issue Forecasts for Peabody Energy Co.’s FY2018 Earnings (BTU)
Peabody Energy Co. (NYSE:BTU) – Equities researchers at Jefferies Financial Group raised their FY2018 EPS estimates for shares of Peabody Energy in a note issued to investors on Monday, July 9th. Jefferies Financial Group analyst C. Lafemina now forecasts that the coal producer will earn $3.38 per share for the year, up from their prior forecast of $3.14. Jefferies Financial Group also issued estimates for Peabody Energy’s FY2019 earnings at $2.60 EPS.
Several other research firms have also commented on BTU. Zacks Investment Research raised Peabody Energy from a “hold” rating to a “strong-buy” rating and set a $54.00 target price for the company in a report on Friday, June 8th. MKM Partners reaffirmed a “buy” rating and set a $53.00 target price on shares of Peabody Energy in a report on Wednesday, June 6th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $48.00 target price (down from $52.00) on shares of Peabody Energy in a report on Friday, March 16th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $45.00.
Peabody Energy (NYSE:BTU) last posted its earnings results on Wednesday, April 25th. The coal producer reported $0.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.01). The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.37 billion. Peabody Energy had a net margin of 15.59% and a return on equity of 26.49%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the company posted $6.80 earnings per share.
A number of hedge funds have recently modified their holdings of BTU. Contrarian Capital Management L.L.C. boosted its stake in Peabody Energy by 31.5% during the 1st quarter. Contrarian Capital Management L.L.C. now owns 9,985,667 shares of the coal producer’s stock valued at $364,477,000 after purchasing an additional 2,394,771 shares in the last quarter. Boston Partners bought a new position in Peabody Energy during the 1st quarter valued at $64,842,000. Platinum Investment Management Ltd. boosted its stake in Peabody Energy by 45.0% during the 4th quarter. Platinum Investment Management Ltd. now owns 3,787,899 shares of the coal producer’s stock valued at $149,129,000 after purchasing an additional 1,176,200 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Peabody Energy by 846.8% during the 4th quarter. Two Sigma Advisers LP now owns 1,097,725 shares of the coal producer’s stock valued at $43,217,000 after purchasing an additional 981,788 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Peabody Energy by 209.1% during the 1st quarter. JPMorgan Chase & Co. now owns 1,345,702 shares of the coal producer’s stock valued at $49,119,000 after purchasing an additional 910,355 shares in the last quarter. 99.57% of the stock is owned by institutional investors and hedge funds.
About Peabody Energy
Peabody Energy Corporation engages in coal mining business. The company operates through six segments: Powder River Basin Mining, Midwestern U.S. Mining, Western U.S. Mining, Australian Metallurgical Mining, Australian Thermal Mining, and Trading and Brokerage. It is involved in mining, preparation, and sale of thermal coal primarily to electric utilities; and metallurgical coal that include hard coking coal, semi-hard coking coal, semi-soft coking coal, and low-volatile pulverized coal injection for industrial customers.
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