B. Riley Has Weak Outlook for Arch Resources FY2024 Earnings

Arch Resources, Inc. (NYSE:ARCH) – Research analysts at B. Riley decreased their FY2024 earnings estimates for Arch Resources in a research report issued on Wednesday, November 6th. B. Riley analyst L. Pipes now forecasts that the energy company will post earnings of $5.19 per share for the year, down from their prior forecast of $7.12. B. Riley currently has a “Buy” rating and a $188.00 target price on the stock. The consensus estimate for Arch Resources’ current full-year earnings is $7.84 per share. B. Riley also issued estimates for Arch Resources’ Q4 2024 earnings at $0.93 EPS.

Arch Resources (NYSE:ARCH) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of $1.83 by ($2.17). Arch Resources had a net margin of 9.24% and a return on equity of 17.91%. The firm had revenue of $617.90 million for the quarter, compared to analysts’ expectations of $587.71 million. During the same quarter in the previous year, the firm posted $3.91 EPS. The firm’s revenue for the quarter was down 17.0% compared to the same quarter last year.

Several other brokerages have also recently issued reports on ARCH. Benchmark reissued a “buy” rating and set a $180.00 target price on shares of Arch Resources in a report on Friday, July 26th. StockNews.com assumed coverage on Arch Resources in a research note on Sunday, November 3rd. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $175.75.

Arch Resources Price Performance

Shares of NYSE:ARCH opened at $168.40 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.77 and a debt-to-equity ratio of 0.07. Arch Resources has a twelve month low of $116.44 and a twelve month high of $187.60. The company’s 50 day moving average is $137.49 and its 200 day moving average is $147.44. The company has a market cap of $3.04 billion, a PE ratio of 12.23 and a beta of 0.59.

Hedge Funds Weigh In On Arch Resources

Large investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC increased its stake in shares of Arch Resources by 94.0% during the first quarter. Janney Montgomery Scott LLC now owns 13,986 shares of the energy company’s stock worth $2,249,000 after purchasing an additional 6,778 shares in the last quarter. Natixis acquired a new stake in Arch Resources in the 1st quarter worth about $2,892,000. Comerica Bank increased its stake in Arch Resources by 29.6% during the 1st quarter. Comerica Bank now owns 22,551 shares of the energy company’s stock worth $3,626,000 after buying an additional 5,153 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Arch Resources during the second quarter valued at approximately $8,700,000. Finally, Virtu Financial LLC purchased a new position in shares of Arch Resources in the first quarter valued at approximately $604,000. 88.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Arch Resources

In related news, VP Deck Slone sold 253 shares of Arch Resources stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $144.75, for a total value of $36,621.75. Following the completion of the transaction, the vice president now owns 29,120 shares in the company, valued at $4,215,120. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is owned by company insiders.

Arch Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Friday, November 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Friday, November 15th. Arch Resources’s dividend payout ratio (DPR) is presently 7.26%.

Arch Resources Company Profile

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.