Cloud Peak Energy Lowered to Neutral at Goldman Sachs Group Inc. (CLD)
Cloud Peak Energy (NYSE:CLD) was downgraded by investment analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports. They currently have a $15.00 price target on the stock, down from their previous price target of $19.00. Goldman Sachs Group Inc.’s price objective would suggest a potential downside of 1.32% from the stock’s previous close.
The analysts wrote, “We downgrade Cloud Peak Energy (CLD) from Buy to Neutral given (1) a modestly lower PRB coal price outlook, (2) concerns about declining long-term coal volumes due to coal plant retirements and (3) limited free cash flow generation on estimates now well below consensus. Since being added to the Americas Buy list on March 3, CLD returned -10% versus the S&P500 +12% and other coal stocks -13%. In the last 12 months, CLD returned – 17% versus the S&P500 +17% and other coal stocks -18%. Drivers of underperformance versus the S&P500 include a slower-than-expected recovery in PRB prices and operational challenges in 2013 driving lower guidance.”
Cloud Peak Energy (NYSE:CLD) traded down 2.76% during mid-day trading on Friday, hitting $14.78. The stock had a trading volume of 351,552 shares. Cloud Peak Energy has a 52-week low of $14.71 and a 52-week high of $22.31. The stock’s 50-day moving average is $15.79 and its 200-day moving average is $17.45. The company has a market cap of $893.3 million and a P/E ratio of 6.95.
Cloud Peak Energy (NYSE:CLD) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.02) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.06 by $0.08. The company had revenue of $330.00 million for the quarter, compared to the consensus estimate of $327.05 million. During the same quarter last year, the company posted $0.55 earnings per share. Cloud Peak Energy’s revenue was down 3.8% compared to the same quarter last year. On average, analysts predict that Cloud Peak Energy will post $0.74 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on CLD. Analysts at Macquarie initiated coverage on shares of Cloud Peak Energy (NYSE:CLD) in a research note to investors on Friday, September 6th. They set an “outperform” rating on the stock. Separately, analysts at Stifel Nicolaus initiated coverage on shares of Cloud Peak Energy (NYSE:CLD) in a research note to investors on Monday, August 19th. They set a “hold” rating on the stock. Finally, analysts at BMO Capital Markets cut their price target on shares of Cloud Peak Energy (NYSE:CLD) from $21.00 to $19.00 in a research note to investors on Thursday, August 1st. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Cloud Peak Energy presently has an average rating of “Hold” and an average target price of $18.11.
Cloud Peak Energy Inc (NYSE:CLD) is a holding company that manages its wholly owned subsidiary Cloud Peak Energy Resources LLC (CPE Resources).
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