Peabody Energy Corporation (BTU) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Peabody Energy Corporation (NYSE:BTU) from a sell rating to a hold rating in a research note released on Wednesday.
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 also recently issued reports on the company. FBR & Co increased their target price on Peabody Energy Corporation from $31.00 to $32.00 and gave the stock an outperform rating in a research report on Wednesday, July 12th. Clarkson Capital restated a buy rating on shares of Peabody Energy Corporation in a research report on Thursday, June 22nd. Stifel Nicolaus dropped their target price on Peabody Energy Corporation from $29.00 to $27.00 and set a hold rating on the stock in a research report on Friday, May 19th. MKM Partners assumed coverage on Peabody Energy Corporation in a research report on Thursday, April 27th. They set a buy rating and a $53.00 target price on the stock. Finally, J P Morgan Chase & Co restated an overweight rating and set a $35.00 target price on shares of Peabody Energy Corporation in a research report on Wednesday, April 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $34.86.
Shares of Peabody Energy Corporation (BTU) opened at 27.40 on Wednesday. The firm’s market cap is $2.66 billion. The stock’s 50 day moving average price is $24.42 and its 200-day moving average price is $24.82. Peabody Energy Corporation has a 52-week low of $8.75 and a 52-week high of $32.50.
Peabody Energy Corporation (NYSE:BTU) last posted its earnings results on Thursday, May 4th. The coal producer reported $6.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $4.83. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.54 billion. The company’s revenue was up 29.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($8.85) EPS. On average, analysts forecast that Peabody Energy Corporation will post $5.75 EPS for the current year.
In related news, major shareholder Discovery Capital Management, sold 6,190,000 shares of the stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $23.09, for a total value of $142,927,100.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Associates L.P. Elliott acquired 24,045 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was acquired at an average price of $23.49 per share, for a total transaction of $564,817.05. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 1,808,049 shares of company stock worth $43,876,761. Company insiders own 1.27% of the company’s stock.
Large investors have recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Peabody Energy Corporation during the second quarter worth about $748,000. Strs Ohio acquired a new stake in shares of Peabody Energy Corporation during the second quarter worth about $933,000. Parkwood LLC acquired a new stake in shares of Peabody Energy Corporation during the second quarter worth about $594,000. First Midwest Bank Trust Division acquired a new stake in shares of Peabody Energy Corporation during the second quarter worth about $562,000. Finally, Pacific Heights Asset Management LLC acquired a new stake in shares of Peabody Energy Corporation during the second quarter worth about $295,000.
Peabody Energy Corporation Company Profile
Peabody Energy Corporation is a coal company. The Company’s segments include Powder River Basin Mining, Midwestern U.S. Mining, Western U.S. Mining, Australian Metallurgical Mining, Australian Thermal Mining, Trading and Brokerage, and Corporate and Other. Its Powder River Basin Mining operations consist of its mines in Wyoming.
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