Westmoreland Coal Company (WLB) Expected to Post Quarterly Sales of $330.80 Million
Equities research analysts forecast that Westmoreland Coal Company (NASDAQ:WLB) will post sales of $330.80 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Westmoreland Coal’s earnings. The lowest sales estimate is $330.60 million and the highest is $331.00 million. Westmoreland Coal posted sales of $370.68 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 10.8%. The company is expected to issue its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Westmoreland Coal will report full-year sales of $330.80 million for the current year, with estimates ranging from $1.31 billion to $1.33 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.10 billion per share, with estimates ranging from $1.02 billion to $1.19 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Westmoreland Coal.
Westmoreland Coal (NASDAQ:WLB) last announced its earnings results on Thursday, August 3rd. The coal producer reported ($2.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.58) by ($1.11). The business had revenue of $323.03 million during the quarter, compared to analyst estimates of $320.85 million.
WLB has been the topic of a number of recent research reports. ValuEngine lowered Westmoreland Coal from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 6th. 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 raised Westmoreland Coal from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, BMO Capital Markets lowered Westmoreland Coal from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $18.00 to $5.00 in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. Westmoreland Coal presently has an average rating of “Hold” and an average target price of $10.67.
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A number of large investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd increased its holdings in Westmoreland Coal by 541.4% in the second quarter. Dynamic Technology Lab Private Ltd now owns 100,767 shares of the coal producer’s stock valued at $491,000 after buying an additional 85,057 shares during the last quarter. Western Standard LLC purchased a new position in Westmoreland Coal in the second quarter valued at $123,000. Mangrove Partners increased its holdings in Westmoreland Coal by 1.4% in the second quarter. Mangrove Partners now owns 833,345 shares of the coal producer’s stock valued at $4,058,000 after buying an additional 11,298 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Westmoreland Coal by 76.4% in the second quarter. Goldman Sachs Group Inc. now owns 82,539 shares of the coal producer’s stock valued at $402,000 after buying an additional 35,744 shares during the last quarter. Finally, Tudor Investment Corp ET AL increased its holdings in Westmoreland Coal by 166.7% in the second quarter. Tudor Investment Corp ET AL now owns 38,012 shares of the coal producer’s stock valued at $185,000 after buying an additional 23,758 shares during the last quarter. 78.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Westmoreland Coal (WLB) traded up 3.66% during mid-day trading on Friday, reaching $2.55. The company’s stock had a trading volume of 184,165 shares. The stock’s market cap is $47.79 million. Westmoreland Coal has a one year low of $1.88 and a one year high of $19.92. The stock has a 50 day moving average of $2.61 and a 200-day moving average of $7.49.
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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