Zacks Investment Research Upgrades Peabody Energy Corporation (NYSE:BTU) to Hold

Peabody Energy Corporation (NYSE:BTU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, July 26th.

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. “

A number of other research analysts have also commented on BTU. Seaport Global Securities assumed coverage on shares of Peabody Energy Corporation in a research report on Friday, April 7th. They set a “neutral” rating for the company. Clarkson Capital restated a “buy” rating on shares of Peabody Energy Corporation in a research report on Thursday, June 22nd. Stifel Nicolaus assumed coverage on shares of Peabody Energy Corporation in a research report on Wednesday, April 5th. They set a “hold” rating and a $29.00 price target for the company. FBR & Co restated an “outperform” rating and set a $34.00 price target (up from $33.00) on shares of Peabody Energy Corporation in a research report on Tuesday, April 18th. Finally, MKM Partners assumed coverage on shares of Peabody Energy Corporation in a research report on Thursday, April 27th. They set a “buy” rating and a $53.00 price target for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $35.57.

Shares of Peabody Energy Corporation (BTU) traded down 0.04% during midday trading on Wednesday, reaching $28.21. The company had a trading volume of 1,659,940 shares. The firm’s market capitalization is $2.73 billion. The company has a 50 day moving average price of $26.06 and a 200-day moving average price of $25.32. Peabody Energy Corporation has a one year low of $22.58 and a one year high of $32.50.

Peabody Energy Corporation (NYSE:BTU) last released its quarterly earnings results on Tuesday, August 1st. The coal producer reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.89 by $1.07. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.25 billion. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, analysts anticipate that Peabody Energy Corporation will post $5.56 EPS for the current fiscal year.

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In other Peabody Energy Corporation news, insider Glenn L. Kellow purchased 8,520 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was acquired at an average cost of $23.49 per share, for a total transaction of $200,134.80. Following the completion of the transaction, the insider now directly owns 689,410 shares in the company, valued at approximately $16,194,240.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Associates L.P. Elliott purchased 9,428 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were acquired at an average price of $23.40 per share, with a total value of $220,615.20. The disclosure for this purchase can be found here. Insiders purchased 41,993 shares of company stock valued at $985,567 over the last quarter.

A number of hedge funds have recently bought and sold shares of BTU. Ameritas Investment Partners Inc. acquired a new stake in Peabody Energy Corporation during the second quarter valued at about $105,000. FNY Partners Fund LP acquired a new stake in Peabody Energy Corporation during the second quarter valued at about $146,000. BNP Paribas Arbitrage SA acquired a new stake in Peabody Energy Corporation during the second quarter valued at about $162,000. Pacific Heights Asset Management LLC acquired a new stake in Peabody Energy Corporation during the second quarter valued at about $295,000. Finally, Martingale Asset Management L P acquired a new stake in Peabody Energy Corporation during the second quarter valued at about $301,000. Institutional investors and hedge funds own 1.91% of the company’s stock.

Peabody Energy Corporation Company Profile

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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Analyst Recommendations for Peabody Energy Corporation (NYSE:BTU)

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