RBC Capital Increases Walter Energy Price Target to $17.00 (WLT)
Investment analysts at RBC Capital lifted their price target on shares of Walter Energy (NYSE:WLT) from $16.00 to $17.00 in a note issued to investors on Friday, AmericanBankingNews.com reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price target would indicate a potential upside of 14.56% from the company’s current price.
Shares of Walter Energy (NYSE:WLT) traded up 3.34% on Friday, hitting $14.84. 5,767,569 shares of the company’s stock traded hands. Walter Energy has a 52-week low of $9.88 and a 52-week high of $41.32. The stock has a 50-day moving average of $14.05 and a 200-day moving average of $15.49. The company’s market cap is $928.6 million.
Walter Energy (NYSE:WLT) last announced its earnings results on Thursday, August 1st. The company reported ($0.55) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.75) by $0.20. The company had revenue of $441.50 million for the quarter, compared to the consensus estimate of $472.88 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was down 34.8% on a year-over-year basis. Analysts expect that Walter Energy will post $-2.90 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on WLT. Analysts at Goldman Sachs Group Inc. upgraded shares of Walter Energy from a “sell” rating to a “neutral” rating in a research note to investors on Friday, September 27th. They now have a $15.00 price target on the stock, up previously from $10.00. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Walter Energy in a research note to investors on Thursday, September 26th. Finally, analysts at Zacks reiterated a “hold” rating on shares of Walter Energy in a research note to investors on Monday, September 23rd. They now have a $11.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $27.06.
Walter Energy, Inc, is a producer and exporter of metallurgical coals for the global steel industry. The Company also produces thermal coal and industrial coal, anthracite, metallurgical coke, coal bed methane gas (NYSE:WLT) and other related products.
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