Westmoreland Coal Company (WLB) Expected to Post Earnings of -$0.39 Per Share
Brokerages predict that Westmoreland Coal Company (NASDAQ:WLB) will post ($0.39) earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Westmoreland Coal’s earnings. The highest EPS estimate is ($0.13) and the lowest is ($0.65). Westmoreland Coal reported earnings of ($0.46) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 15.2%. The business is expected to report its next earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Westmoreland Coal will report full-year earnings of ($4.58) per share for the current financial year, with EPS estimates ranging from ($5.18) to ($3.97). For the next fiscal year, analysts anticipate that the business will report earnings of ($3.18) per share, with EPS estimates ranging from ($5.00) to ($1.36). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Westmoreland Coal.
Westmoreland Coal (NASDAQ:WLB) last released its quarterly earnings results on Thursday, August 3rd. The coal producer reported ($2.69) EPS for the quarter, missing analysts’ consensus estimates of ($1.58) by ($1.11). The business had revenue of $323.03 million during the quarter, compared to the consensus estimate of $320.85 million.
Several research analysts have recently issued reports on the company. FBR & Co upped their price objective on Westmoreland Coal from $8.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, June 23rd. Zacks Investment Research lowered Westmoreland Coal from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 24th. ValuEngine lowered Westmoreland Coal from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 6th. Finally, BMO Capital Markets cut Westmoreland Coal from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $18.00 to $5.00 in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Westmoreland Coal presently has an average rating of “Hold” and an average price target of $10.67.
Shares of Westmoreland Coal (NASDAQ WLB) traded up 1.18% during midday trading on Monday, hitting $2.58. The stock had a trading volume of 99,608 shares. The stock’s market cap is $48.35 million. The firm has a 50 day moving average price of $2.50 and a 200 day moving average price of $7.22. Westmoreland Coal has a one year low of $1.88 and a one year high of $19.92.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Martingale Asset Management L P acquired a new stake in Westmoreland Coal during the 1st quarter worth $615,000. Ameriprise Financial Inc. purchased a new stake in Westmoreland Coal in the first quarter valued at $2,589,000. OppenheimerFunds Inc. lifted its position in Westmoreland Coal by 4.3% in the first quarter. OppenheimerFunds Inc. now owns 13,899 shares of the coal producer’s stock valued at $202,000 after acquiring an additional 579 shares during the last quarter. Menta Capital LLC lifted its position in Westmoreland Coal by 16.4% in the first quarter. Menta Capital LLC now owns 68,147 shares of the coal producer’s stock valued at $989,000 after acquiring an additional 9,610 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Westmoreland Coal by 4.6% in the first quarter. Vanguard Group Inc. now owns 850,166 shares of the coal producer’s stock valued at $12,344,000 after acquiring an additional 37,373 shares during the last quarter. 78.24% of the stock is currently owned by hedge funds and other 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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