Warrior Met Coal Inc. (HCC) Declares Dividend Increase – $11.21 Per Share
Warrior Met Coal Inc. (NYSE:HCC) announced a special dividend on Thursday, November 2nd, RTT News reports. Investors of record on Monday, November 13th will be given a dividend of 11.21 per share on Wednesday, November 22nd. This is a positive change from Warrior Met Coal’s previous special dividend of $0.05.
Warrior Met Coal has a payout ratio of 2.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Warrior Met Coal to earn $3.01 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 6.6%.
Warrior Met Coal (NYSE:HCC) last released its quarterly earnings data on Thursday, August 3rd. The company reported $2.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.59. The business had revenue of $363.37 million during the quarter, compared to analysts’ expectations of $321.75 million.
Several analysts have weighed in on the company. Zacks Investment Research lowered Warrior Met Coal from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Royal Bank Of Canada set a $27.00 target price on Warrior Met Coal and gave the company a “buy” rating in a report on Tuesday, October 10th. MKM Partners reissued a “neutral” rating and issued a $21.00 target price (up previously from $18.00) on shares of Warrior Met Coal in a report on Thursday, August 24th. FBR & Co upped their target price on Warrior Met Coal from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, September 25th. Finally, Macquarie assumed coverage on Warrior Met Coal in a report on Thursday, September 7th. They issued an “underperform” rating and a $24.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.45.
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Warrior Met Coal Company Profile
Warrior Met Coal, Inc, formerly Warrior Met Coal, LLC, is a producer and exporter of metallurgical coal for the steel industry from underground mines located in Brookwood, Alabama, southwest of Birmingham and near Tuscaloosa. These underground coalmines are 1,400 to 2,100 feet underground. Its operations serve markets in the United States, Europe, Asia and South America via barge and rail access to the Port of Mobile.
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