Zacks Investment Research upgraded shares of Arch Coal, Inc. Class A (NYSE:ARCH) from a hold rating to a strong-buy rating in a research note issued to investors on Friday, February 16th. The firm currently has $108.00 target price on the energy company’s stock.
According to Zacks, “Arch Coal, Inc. is a natural resource company. It produces metallurgical and thermal coal, used to manufacture steel and generate electricity. The company operates primarily in Alabama, Indiana, Washington, Arkansas, California, Utah and Texas. Arch Coal, Inc. is headquartered in St. Louis, Missouri. “
ARCH has been the subject of several other reports. B. Riley reissued a buy rating on shares of Arch Coal, Inc. Class A in a report on Wednesday, November 1st. ValuEngine raised shares of Arch Coal, Inc. Class A from a hold rating to a buy rating in a research note on Friday, December 1st. Jefferies Group set a $120.00 price objective on shares of Arch Coal, Inc. Class A and gave the company a buy rating in a report on Tuesday, February 13th. Stifel Nicolaus set a $109.00 price objective on shares of Arch Coal, Inc. Class A and gave the company a buy rating in a report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of Arch Coal, Inc. Class A from $90.00 to $94.00 and gave the company a hold rating in a report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $101.25.
Arch Coal, Inc. Class A (NYSE:ARCH) last released its quarterly earnings results on Tuesday, February 13th. The energy company reported $4.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $1.80. The business had revenue of $560.20 million for the quarter, compared to the consensus estimate of $574.83 million. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 EPS. sell-side analysts anticipate that Arch Coal, Inc. Class A will post 11.95 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Monday, March 5th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Friday, March 2nd. This is a positive change from Arch Coal, Inc. Class A’s previous quarterly dividend of $0.35.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN raised its holdings in Arch Coal, Inc. Class A by 76.6% during the 2nd quarter. Wells Fargo & Company MN now owns 37,126 shares of the energy company’s stock worth $2,535,000 after purchasing an additional 16,102 shares during the last quarter. Nationwide Fund Advisors acquired a new stake in shares of Arch Coal, Inc. Class A during the 2nd quarter worth approximately $1,271,000. BlackRock Inc. grew its position in Arch Coal, Inc. Class A by 242.4% in the 2nd quarter. BlackRock Inc. now owns 1,415,537 shares of the energy company’s stock valued at $96,680,000 after purchasing an additional 1,002,176 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in Arch Coal, Inc. Class A in the 2nd quarter valued at $894,000. Finally, Northern Trust Corp grew its position in Arch Coal, Inc. Class A by 450.0% in the 2nd quarter. Northern Trust Corp now owns 252,215 shares of the energy company’s stock valued at $17,226,000 after purchasing an additional 206,361 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.
Arch Coal, Inc. Class A Company Profile
Arch Coal, Inc is a coal producer. The Company is engaged in the production of thermal and metallurgical coal from surface and underground mines located throughout the United States, for sale to utility, industrial and steel producers both in the United States and around the world. The Company operates mining complexes in West Virginia, Kentucky, Maryland, Virginia, Illinois, Wyoming and Colorado.
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