Alpha Natural Resources Stock Rating Reaffirmed by Sterne Agee (ANR)
Alpha Natural Resources (NYSE:ANR)‘s stock had its “market perform” rating reaffirmed by equities researchers at Sterne Agee in a research report issued on Friday, American Banking & Market News reports. They currently have a $14.00 target price on the stock, up from their previous target price of $7.00. Sterne Agee’s price target would suggest a potential upside of 100.00% from the stock’s previous close.
Shares of Alpha Natural Resources (NYSE:ANR) opened at 7.00 on Friday. Alpha Natural Resources has a 1-year low of $4.78 and a 1-year high of $10.74. The stock’s 50-day moving average is $6.17 and its 200-day moving average is $6.1. The company’s market cap is $1.547 billion. Alpha Natural Resources also was the recipient of some unusual options trading activity on Thursday. Investors purchased 16,242 call options on the company. This is an increase of approximately 144% compared to the average daily volume of 6,649 call options.
Alpha Natural Resources (NYSE:ANR) last announced its earnings results on Thursday, October 31st. The company reported ($0.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.16. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted ($0.16) earnings per share. The company’s revenue for the quarter was down 27.1% on a year-over-year basis. On average, analysts predict that Alpha Natural Resources will post $-2.49 earnings per share for the current fiscal year.
ANR has been the subject of a number of other recent research reports. Analysts at Raymond James upgraded shares of Alpha Natural Resources from an “underperform” rating to a “market perform” rating in a research note to investors on Friday. Separately, analysts at UBS AG downgraded shares of Alpha Natural Resources from a “market perform” rating to an “underperform” rating in a research note to investors on Friday, October 18th. Finally, analysts at BMO Capital Markets downgraded shares of Alpha Natural Resources from a “market perform” rating to an “underperform” rating in a research note to investors on Friday, October 18th. They now have a $4.00 price target on the stock, down previously from $5.00. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $8.17.
Alpha Natural Resources, Inc (NYSE:ANR) is a supplier and exporter of metallurgical coals for use in the steel-making process and a supplier of thermal coal to electric utilities and manufacturing industries, as well as a exporter of thermal coal.
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