Brokerages Expect Westmoreland Coal Company (WLB) Will Post Quarterly Sales of $296.80 Million
Equities analysts expect Westmoreland Coal Company (NASDAQ:WLB) to post $296.80 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Westmoreland Coal’s earnings, with the highest sales estimate coming in at $317.60 million and the lowest estimate coming in at $276.00 million. Westmoreland Coal reported sales of $392.74 million during the same quarter last year, which indicates a negative year-over-year growth rate of 24.4%. The firm is scheduled to announce its next earnings report on Tuesday, March 27th.
According to Zacks, analysts expect that Westmoreland Coal will report full year sales of $296.80 million for the current year, with estimates ranging from $1.30 billion to $1.34 billion. For the next financial year, analysts expect that the firm will post sales of $1.05 billion per share, with estimates ranging from $910.00 million to $1.19 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Westmoreland Coal.
WLB has been the topic of a number of recent analyst reports. BMO Capital Markets downgraded Westmoreland Coal from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $18.00 to $5.00 in a research note on Thursday, August 3rd. FBR & Co reissued a “buy” rating and issued a $7.00 price objective on shares of Westmoreland Coal in a research note on Friday, September 1st. Zacks Investment Research downgraded Westmoreland Coal from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 24th. Finally, B. Riley reissued a “buy” rating on shares of Westmoreland Coal in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Westmoreland Coal currently has a consensus rating of “Hold” and an average target price of $6.00.
Westmoreland Coal (NASDAQ WLB) opened at $1.88 on Friday. Westmoreland Coal has a twelve month low of $1.64 and a twelve month high of $19.92. The company has a quick ratio of 0.71, a current ratio of 1.04 and a debt-to-equity ratio of -1.32.
Several large investors have recently made changes to their positions in WLB. American International Group Inc. increased its position in Westmoreland Coal by 7.1% in the 1st quarter. American International Group Inc. now owns 11,341 shares of the coal producer’s stock valued at $165,000 after buying an additional 751 shares in the last quarter. OppenheimerFunds Inc. increased its position in Westmoreland Coal by 4.3% in the 1st quarter. OppenheimerFunds Inc. now owns 13,899 shares of the coal producer’s stock valued at $202,000 after buying an additional 579 shares in the last quarter. Tudor Investment Corp ET AL increased its position in Westmoreland Coal by 15.3% in the 1st quarter. Tudor Investment Corp ET AL now owns 14,254 shares of the coal producer’s stock valued at $207,000 after buying an additional 1,892 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Westmoreland Coal by 16.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 14,319 shares of the coal producer’s stock valued at $208,000 after buying an additional 1,998 shares in the last quarter. Finally, Western Standard LLC bought a new stake in Westmoreland Coal in the 2nd quarter valued at about $123,000. 77.96% of the stock is currently owned by institutional investors.
About Westmoreland Coal
Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal-U.S., Coal-Canada, Coal-(WMLP), Power, Heritage and Corporate. The Coal-U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico. The Coal-Canada segment includes the operations of coal mines located in Alberta and Saskatchewan.
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