$0.73 EPS Expected for Alliance Resource Partners, L.P. (ARLP) This Quarter
Wall Street brokerages expect Alliance Resource Partners, L.P. (NASDAQ:ARLP) to announce earnings per share (EPS) of $0.73 for the current quarter, Zacks reports. Three analysts have provided estimates for Alliance Resource Partners’ earnings, with the lowest EPS estimate coming in at $0.70 and the highest estimate coming in at $0.78. Alliance Resource Partners posted earnings of $0.52 per share during the same quarter last year, which would indicate a positive year over year growth rate of 40.4%. The firm is expected to announce its next quarterly earnings results on Monday, October 29th.
On average, analysts expect that Alliance Resource Partners will report full year earnings of $3.33 per share for the current financial year, with EPS estimates ranging from $3.27 to $3.40. For the next year, analysts forecast that the company will post earnings of $2.26 per share, with EPS estimates ranging from $2.02 to $2.48. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Alliance Resource Partners.
Alliance Resource Partners (NASDAQ:ARLP) last posted its quarterly earnings results on Monday, July 30th. The energy company reported $0.64 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.64. Alliance Resource Partners had a return on equity of 24.78% and a net margin of 19.77%. The company had revenue of $516.10 million during the quarter, compared to the consensus estimate of $491.55 million. During the same period last year, the business earned $0.82 EPS. The business’s quarterly revenue was up 29.4% on a year-over-year basis.
In related news, Director Nick Carter acquired 2,219 shares of the stock in a transaction dated Wednesday, August 8th. The shares were acquired at an average price of $19.85 per share, with a total value of $44,047.15. Following the acquisition, the director now owns 20,000 shares in the company, valued at approximately $397,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 44.03% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its holdings in Alliance Resource Partners by 2.1% in the 1st quarter. Van ECK Associates Corp now owns 154,894 shares of the energy company’s stock valued at $2,734,000 after buying an additional 3,235 shares during the last quarter. Bank of Montreal Can grew its holdings in Alliance Resource Partners by 64.3% in the 2nd quarter. Bank of Montreal Can now owns 1,047,600 shares of the energy company’s stock valued at $19,223,000 after buying an additional 410,000 shares during the last quarter. Tiedemann Advisors LLC grew its holdings in Alliance Resource Partners by 66.5% in the 2nd quarter. Tiedemann Advisors LLC now owns 230,152 shares of the energy company’s stock valued at $4,224,000 after buying an additional 91,905 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Alliance Resource Partners by 77.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 26,566 shares of the energy company’s stock valued at $470,000 after buying an additional 11,602 shares during the last quarter. Finally, First Manhattan Co. grew its holdings in Alliance Resource Partners by 40.9% in the 2nd quarter. First Manhattan Co. now owns 581,218 shares of the energy company’s stock valued at $10,665,000 after buying an additional 168,579 shares during the last quarter. 28.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ARLP traded up $0.35 during midday trading on Friday, reaching $19.70. 553,100 shares of the stock were exchanged, compared to its average volume of 397,264. Alliance Resource Partners has a 12-month low of $15.55 and a 12-month high of $21.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.15 and a quick ratio of 0.90. The company has a market capitalization of $2.55 billion, a PE ratio of 6.86 and a beta of 0.78.
Alliance Resource Partners declared that its Board of Directors has approved a share buyback plan on Thursday, May 31st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the energy company to buy up to 3.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
About Alliance Resource Partners
Alliance Resource Partners, L.P. produces and markets coal primarily to utilities and industrial users in the United States. The company operates through two segments, Illinois Basin and Appalachia. It produces a range of steam and metallurgical coal with sulfur and heat contents. The company operates eight underground mining complexes in Illinois, Indiana, Kentucky, Maryland, and West Virginia.
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