Foresight Energy LP (FELP) Cut to “Sell” at ValuEngine
Foresight Energy LP (NYSE:FELP) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Monday.
Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Foresight Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. BidaskClub raised Foresight Energy from a “strong sell” rating to a “sell” rating in a research note on Friday, September 15th. FBR & Co set a $5.00 target price on Foresight Energy and gave the stock a “hold” rating in a research report on Tuesday, August 15th. Finally, Stifel Nicolaus decreased their price objective on shares of Foresight Energy from $6.50 to $5.50 and set a “hold” rating for the company in a report on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $5.92.
Foresight Energy (NYSE FELP) traded down 3.78% on Monday, hitting $4.07. 10,042 shares of the stock traded hands. Foresight Energy has a 12-month low of $3.53 and a 12-month high of $8.33. The firm’s market cap is $579.52 million. The stock has a 50-day moving average of $4.20 and a 200-day moving average of $4.88.
Foresight Energy (NYSE:FELP) last posted its earnings results on Friday, August 11th. The energy company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. Foresight Energy had a negative return on equity of 15.37% and a negative net margin of 21.13%. The business had revenue of $207.10 million during the quarter, compared to the consensus estimate of $228.40 million. During the same quarter last year, the company earned ($0.11) EPS. Foresight Energy’s revenue was down 8.4% on a year-over-year basis. Analysts forecast that Foresight Energy will post ($0.99) earnings per share for the current year.
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About Foresight Energy
Foresight Energy LP is engaged in the mining and marketing of coal from reserves and operations located in the Illinois Basin. As of December 31, 2016, the Company controlled 2.1 billion tons of coal in the state of Illinois. Its reserves consist principally of three contiguous blocks of uniform, thick, high heat content (high Btu) thermal coal, which are used for longwall operations.
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