Peabody Energy (NYSE:BTU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
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 research firms also recently commented on BTU. Seaport Global Securities downgraded shares of Peabody Energy from a “buy” rating to a “neutral” rating in a report on Friday, September 28th. B. Riley lowered their target price on shares of Peabody Energy to $45.00 and set a “buy” rating on the stock in a report on Monday, October 1st. ValuEngine downgraded shares of Peabody Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. Clarkson Capital downgraded shares of Peabody Energy from a “buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a report on Friday, September 28th. Finally, Macquarie lowered their target price on shares of Peabody Energy from $49.00 to $36.00 and set a “hold” rating on the stock in a report on Monday, October 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Peabody Energy has a consensus rating of “Hold” and a consensus price target of $44.33.
BTU opened at $35.30 on Monday. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 8.82 and a beta of 0.64. Peabody Energy has a 1-year low of $30.49 and a 1-year high of $47.84. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.05 and a quick ratio of 1.81.
Peabody Energy (NYSE:BTU) last posted its quarterly earnings results on Tuesday, October 30th. The coal producer reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.55). The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.37 billion. Peabody Energy had a return on equity of 19.01% and a net margin of 13.20%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.47 earnings per share. Equities research analysts anticipate that Peabody Energy will post 3.47 earnings per share for the current fiscal year.
In related news, EVP Charles F. Meintjes sold 35,000 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $42.10, for a total transaction of $1,473,500.00. Following the sale, the executive vice president now owns 170,910 shares of the company’s stock, valued at $7,195,311. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider George John Schuller, Jr. sold 12,312 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $41.13, for a total transaction of $506,392.56. Following the sale, the insider now directly owns 55,627 shares in the company, valued at approximately $2,287,938.51. The disclosure for this sale can be found here. Insiders sold 79,486 shares of company stock worth $3,108,904 in the last three months. Insiders own 0.42% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Peabody Energy by 12.0% during the second quarter. BlackRock Inc. now owns 6,304,232 shares of the coal producer’s stock valued at $286,716,000 after purchasing an additional 674,014 shares in the last quarter. Millennium Management LLC raised its stake in Peabody Energy by 77.4% during the second quarter. Millennium Management LLC now owns 1,279,815 shares of the coal producer’s stock valued at $58,206,000 after purchasing an additional 558,289 shares in the last quarter. Northern Trust Corp raised its stake in Peabody Energy by 9.8% during the second quarter. Northern Trust Corp now owns 1,028,706 shares of the coal producer’s stock valued at $46,785,000 after purchasing an additional 92,053 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in Peabody Energy during the second quarter valued at $46,256,000. Finally, Schwab Charles Investment Management Inc. raised its stake in Peabody Energy by 56.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 886,851 shares of the coal producer’s stock valued at $40,334,000 after purchasing an additional 321,432 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors.
About Peabody Energy
Peabody Energy Corporation engages in coal mining business. The company operates through six segments: Powder River Basin Mining, Midwestern U.S. Mining, Western U.S. Mining, Australian Metallurgical Mining, Australian Thermal Mining, and Trading and Brokerage. It is involved in mining, preparation, and sale of thermal coal primarily to electric utilities; and metallurgical coal that include hard coking coal, semi-hard coking coal, semi-soft coking coal, and low-volatile pulverized coal injection for industrial customers.
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