Peabody Energy Corporation (NYSE:BTU) had its price target boosted by FBR & Co from $35.00 to $36.00 in a research report released on Wednesday, October 18th, MarketBeat Ratings reports. FBR & Co currently has a buy rating on the coal producer’s stock. FBR & Co also issued estimates for Peabody Energy Corporation’s Q3 2017 earnings at $1.56 EPS, Q4 2017 earnings at $1.59 EPS, FY2017 earnings at $5.43 EPS, Q1 2018 earnings at $0.77 EPS, Q2 2018 earnings at $0.61 EPS, Q3 2018 earnings at $0.59 EPS, Q4 2018 earnings at $0.53 EPS, FY2018 earnings at $2.50 EPS, Q1 2019 earnings at $0.37 EPS, Q2 2019 earnings at $0.28 EPS, Q3 2019 earnings at $0.38 EPS and FY2019 earnings at $1.26 EPS.
“Peabody is expected to kick off earnings season for the U.S. coal sector on Wednesday, October 25. Our 3Q17 EBITDA estimate of $392M and EPS estimate of $1.56 both come in above consensus of EBITDA $366M and EPS $1.22, respectively. With this note we tweaked our estimates for recently released MSHA data, pointing to strong production in the PRB and ILB, but a miss in its Western mines. Overall, we expect a strong quarter from Peabody, driven by strengthening seaborne prices (especially on the thermal coal side) and the aforementioned robust domestic production. Needless to say, results should also improve from Q2 as weather-related disruptions receded. In the quarter, Peabody voluntarily repaid $300M in debt and modified its term loan to provide further capital allocation flexibility. We will be on the lookout for updates on restricted cash, Chapter 11 expenses, and restructuring expenses, all of which could push the cash position in various directions.”,” the firm’s analyst commented.
BTU has been the topic of a number of other research reports. Macquarie began coverage on Peabody Energy Corporation in a research note on Thursday, September 7th. They set a neutral rating and a $30.00 price objective on the stock. Stifel Nicolaus set a $32.00 price target on Peabody Energy Corporation and gave the company a hold rating in a research note on Wednesday, August 2nd. MKM Partners reaffirmed a buy rating on shares of Peabody Energy Corporation in a research note on Tuesday, September 12th. Clarkson Capital reaffirmed a buy rating on shares of Peabody Energy Corporation in a research note on Thursday, June 22nd. Finally, Zacks Investment Research raised Peabody Energy Corporation from a sell rating to a hold rating in a research note on Wednesday, July 26th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $35.13.
Peabody Energy Corporation (BTU) opened at 30.94 on Wednesday. The company’s market capitalization is $3.10 billion. The stock has a 50 day moving average of $29.53 and a 200-day moving average of $26.84. Peabody Energy Corporation has a 52-week low of $22.58 and a 52-week high of $32.50.
Peabody Energy Corporation (NYSE:BTU) last released its quarterly earnings data on Wednesday, October 25th. The coal producer reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.14. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. The business’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the firm posted ($7.53) EPS. On average, equities research analysts anticipate that Peabody Energy Corporation will post $6.28 earnings per share for the current fiscal year.
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In related news, major shareholder Discovery Capital Management, sold 12,800,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $27.10, for a total value of $346,880,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.27% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new stake in Peabody Energy Corporation during the 2nd quarter worth about $105,000. FNY Partners Fund LP purchased a new stake in Peabody Energy Corporation during the 2nd quarter worth about $146,000. BNP Paribas Arbitrage SA purchased a new stake in Peabody Energy Corporation during the 2nd quarter worth about $162,000. Nationwide Fund Advisors increased its holdings in Peabody Energy Corporation by 20.2% during the 3rd quarter. Nationwide Fund Advisors now owns 44,007 shares of the coal producer’s stock worth $1,277,000 after purchasing an additional 7,403 shares during the period. Finally, Pacific Heights Asset Management LLC purchased a new stake in Peabody Energy Corporation during the 2nd quarter worth about $295,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.
About Peabody Energy Corporation
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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