B. Riley Comments on Arch Resources, Inc.’s Q3 2024 Earnings (NYSE:ARCH)

Arch Resources, Inc. (NYSE:ARCH) – Research analysts at B. Riley decreased their Q3 2024 earnings per share (EPS) estimates for shares of Arch Resources in a note issued to investors on Friday, April 26th. B. Riley analyst L. Pipes now anticipates that the energy company will earn $3.89 per share for the quarter, down from their previous forecast of $4.12. B. Riley has a “Buy” rating and a $193.00 price objective on the stock. The consensus estimate for Arch Resources’ current full-year earnings is $14.50 per share. B. Riley also issued estimates for Arch Resources’ FY2024 earnings at $11.96 EPS.

Arch Resources (NYSE:ARCH) last released its quarterly earnings data on Monday, April 29th. The energy company reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.19. The firm had revenue of $680.19 million during the quarter, compared to analysts’ expectations of $596.52 million. Arch Resources had a net margin of 10.89% and a return on equity of 22.32%. Arch Resources’s revenue was down 21.8% compared to the same quarter last year. During the same period last year, the business earned $10.02 earnings per share.

Several other equities research analysts have also recently issued reports on ARCH. BMO Capital Markets reissued a “market perform” rating and set a $165.00 target price (down previously from $180.00) on shares of Arch Resources in a research note on Wednesday, April 10th. Benchmark restated a “buy” rating and issued a $180.00 price objective on shares of Arch Resources in a report on Monday, April 22nd. StockNews.com lowered Arch Resources from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, Citigroup restated a “neutral” rating and set a $170.00 price target (down from $185.00) on shares of Arch Resources in a research report on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $177.00.

Arch Resources Stock Down 3.9 %

Shares of NYSE ARCH opened at $158.70 on Monday. Arch Resources has a 1 year low of $102.42 and a 1 year high of $187.60. The company has a market capitalization of $2.88 billion, a P/E ratio of 9.34 and a beta of 0.68. The company has a 50 day simple moving average of $164.19 and a 200-day simple moving average of $163.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.64 and a quick ratio of 1.89.

Hedge Funds Weigh In On Arch Resources

Several hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in shares of Arch Resources by 681.4% in the 1st quarter. Principal Financial Group Inc. now owns 108,929 shares of the energy company’s stock valued at $17,515,000 after buying an additional 94,989 shares in the last quarter. Yousif Capital Management LLC purchased a new stake in Arch Resources in the first quarter valued at $1,354,000. Lindbrook Capital LLC boosted its stake in Arch Resources by 99.0% in the first quarter. Lindbrook Capital LLC now owns 201 shares of the energy company’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Arch Resources during the first quarter worth about $1,463,000. Finally, Maryland State Retirement & Pension System acquired a new stake in shares of Arch Resources during the first quarter worth about $1,102,000. 88.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Arch Resources

In other Arch Resources news, VP Paul T. Demzik sold 4,451 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $178.40, for a total transaction of $794,058.40. Following the completion of the transaction, the vice president now owns 2,192 shares in the company, valued at approximately $391,052.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Matthew C. Giljum sold 199 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $169.64, for a total value of $33,758.36. Following the transaction, the chief financial officer now owns 27,986 shares in the company, valued at approximately $4,747,545.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Paul T. Demzik sold 4,451 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $178.40, for a total value of $794,058.40. Following the sale, the vice president now owns 2,192 shares of the company’s stock, valued at approximately $391,052.80. The disclosure for this sale can be found here. Insiders have sold a total of 104,335 shares of company stock valued at $19,126,100 over the last 90 days. 5.90% of the stock is owned by corporate insiders.

Arch Resources Cuts Dividend

The company also recently announced a None dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a dividend yield of 0.6%. Arch Resources’s payout ratio is 5.88%.

About Arch Resources

Arch Resources, Inc engages in the production and sale of metallurgical products. It operates in two segments, Metallurgical and Thermal. The company operates active mines. It owned or controlled primarily through long-term leases of coal land in Ohio, Maryland, Virginia, West Virginia, Wyoming, Kentucky, Montana, Pennsylvania, Colorado, and Illinois; and smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.