Arch Resources (NYSE:ARCH) Posts Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Arch Resources (NYSE:ARCH) released its earnings results on Thursday. The energy company reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.19, Briefing.com reports. The business had revenue of $680.19 million for the quarter, compared to the consensus estimate of $596.52 million. Arch Resources had a return on equity of 32.20% and a net margin of 14.75%. Arch Resources’s quarterly revenue was down 21.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.02 earnings per share.

Arch Resources Price Performance

Shares of ARCH traded up $0.95 during midday trading on Friday, hitting $166.38. The company’s stock had a trading volume of 152,801 shares, compared to its average volume of 468,714. The company’s fifty day simple moving average is $163.99 and its two-hundred day simple moving average is $163.60. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 6.84 and a beta of 0.68. The company has a quick ratio of 1.83, a current ratio of 2.49 and a debt-to-equity ratio of 0.07. Arch Resources has a one year low of $102.42 and a one year high of $187.60.

Arch Resources Cuts Dividend

The firm also recently announced a None dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $1.11 per share. The ex-dividend date is Friday, May 31st. Arch Resources’s payout ratio is presently 4.16%.

Insider Buying and Selling at Arch Resources

In related news, Chairman John W. Eaves sold 72,946 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $185.03, for a total transaction of $13,497,198.38. Following the completion of the transaction, the chairman now directly owns 136,725 shares in the company, valued at approximately $25,298,226.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman John W. Eaves sold 72,946 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $185.03, for a total transaction of $13,497,198.38. Following the completion of the sale, the chairman now directly owns 136,725 shares in the company, valued at $25,298,226.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Pamela R. Butcher acquired 200 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average price of $165.00 per share, with a total value of $33,000.00. Following the completion of the transaction, the director now owns 200 shares of the company’s stock, valued at $33,000. The disclosure for this purchase can be found here. Insiders have sold a total of 104,335 shares of company stock worth $19,126,100 over the last 90 days. Insiders own 5.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com lowered Arch Resources from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. B. Riley reduced their price objective on shares of Arch Resources from $198.00 to $193.00 and set a “buy” rating for the company in a research report on Monday, April 15th. Citigroup reissued a “neutral” rating and issued a $170.00 price objective (down from $185.00) on shares of Arch Resources in a research report on Thursday, April 18th. Benchmark reaffirmed a “buy” rating and issued a $180.00 target price on shares of Arch Resources in a research report on Monday. Finally, BMO Capital Markets restated a “market perform” rating and set a $165.00 target price (down previously from $180.00) on shares of Arch Resources in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $177.00.

About Arch Resources

Arch Resources, Inc engages in the production and sale of metallurgical products. It operates in two segments, Metallurgical and Thermal. The company operates active mines. It owned or controlled primarily through long-term leases of coal land in Ohio, Maryland, Virginia, West Virginia, Wyoming, Kentucky, Montana, Pennsylvania, Colorado, and Illinois; and smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.