Peabody Energy (BTU) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Peabody Energy (NYSE:BTU) from a hold rating to a strong-buy rating in a research note released on Wednesday. They currently have $49.00 price target on the coal producer’s stock.
According to Zacks, “Peabody Energy Corporation is a coal company. It provides voice in advocating for sustainable mining, energy access and clean coal technologies. The company serves metallurgical and thermal coal customers primarily in Arizona, Colorado, New Mexico and Wyoming, Illinois, Indiana and Australia. Peabody Energy Corporation is based in St Louis, United States. “
Several other equities research analysts have also recently commented on BTU. B. Riley lifted their price target on shares of Peabody Energy from $51.00 to $52.00 and gave the stock a buy rating in a research report on Wednesday, July 25th. MKM Partners restated a buy rating and set a $53.00 price objective on shares of Peabody Energy in a report on Wednesday, June 6th. Finally, ValuEngine cut shares of Peabody Energy from a hold rating to a sell rating in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $46.88.
Peabody Energy (NYSE:BTU) last issued its quarterly earnings results on Tuesday, July 24th. The coal producer reported $0.93 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.12). Peabody Energy had a return on equity of 24.59% and a net margin of 15.71%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the firm earned ($0.18) EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. equities research analysts forecast that Peabody Energy will post 4.26 earnings per share for the current fiscal year.
In related news, EVP Charles F. Meintjes sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $42.10, for a total transaction of $1,473,500.00. Following the completion of the transaction, the executive vice president now owns 170,910 shares in the company, valued at $7,195,311. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider George John Schuller, Jr. sold 12,312 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $41.13, for a total transaction of $506,392.56. Following the transaction, the insider now owns 55,627 shares of the company’s stock, valued at approximately $2,287,938.51. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Contrarian Capital Management L.L.C. boosted its holdings in shares of Peabody Energy by 31.5% in the first 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 buying an additional 2,394,771 shares during the period. Victory Capital Management Inc. acquired a new position in shares of Peabody Energy in the second quarter valued at approximately $46,256,000. JPMorgan Chase & Co. boosted its holdings in shares of Peabody Energy by 209.1% in the first quarter. JPMorgan Chase & Co. now owns 1,345,702 shares of the coal producer’s stock valued at $49,119,000 after buying an additional 910,355 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Peabody Energy by 32.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,253,684 shares of the coal producer’s stock valued at $118,759,000 after buying an additional 798,936 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of Peabody Energy by 12.0% in the second quarter. BlackRock Inc. now owns 6,304,232 shares of the coal producer’s stock valued at $286,716,000 after buying an additional 674,014 shares during the period. Hedge funds and other institutional investors own 99.30% of the company’s stock.
Peabody Energy Company Profile
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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