Arch Coal (ACI) Releases Quarterly Earnings, Misses Expectations By $0.18 EPS
Arch Coal (NYSE:ACI) issued its quarterly earnings data on Tuesday. The company reported ($0.60) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.42) by $0.18, AnalystRatingsNetwork.com reports. The company had revenue of $736.00 million for the quarter, compared to the consensus estimate of $718.03 million.
ACI has been the subject of a number of recent research reports. Analysts at Goldman Sachs upgraded shares of Arch Coal from a “sell” rating to a “neutral” rating in a research note on Monday. They now have a $5.00 price target on the stock, up previously from $3.00. On a related note, analysts at UBS AG downgraded shares of Arch Coal from a “neutral” rating to a “sell” rating in a research note on Wednesday, April 9th. They now have a $3.00 price target on the stock, down previously from $5.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Arch Coal in a research note on Tuesday, March 25th. They now have a $5.00 price target on the stock. Five analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $4.60.
Shares of Arch Coal (NYSE:ACI) opened at 4.97 on Tuesday. Arch Coal has a 1-year low of $3.47 and a 1-year high of $5.82. The stock’s 50-day moving average is $4.65 and its 200-day moving average is $4.31. The company’s market cap is $1.055 billion. Arch Coal also saw a significant growth in short interest during the month of January. As of March 31st, there was short interest totalling 37,182,060 shares, a growth of 6.9% from the March 14th total of 34,793,858 shares. Currently, 17.6% of the company’s shares are short sold. Based on an average trading volume of 8,781,420 shares, the days-to-cover ratio is presently 4.2 days.
Arch Coal, Inc (NYSE:ACI) is the coal producer.
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