Alliance Resource PT Raised to $100.00 (ARLP)
Research analysts at Cowen and Company upped their price objective on shares of Alliance Resource (NASDAQ:ARLP) from $90.00 to $100.00 in a report released on Tuesday, AnalystRatings.NET reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price target points to a potential upside of 8.62% from the stock’s previous close.
Alliance Resource (NASDAQ:ARLP) traded up 2.27% on Tuesday, hitting $92.06. 119,101 shares of the company’s stock traded hands. Alliance Resource has a one year low of $64.22 and a one year high of $92.77. The stock’s 50-day moving average is $84.21 and its 200-day moving average is $79.30. The company has a market cap of $3.409 billion and a P/E ratio of 12.39.
Alliance Resource (NASDAQ:ARLP) last released its earnings data on Monday, April 28th. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.47. The company had revenue of $542.04 million for the quarter, compared to the consensus estimate of $552.34 million. During the same quarter in the previous year, the company posted $1.95 earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts expect that Alliance Resource will post $7.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, May 15th. Shareholders of record on Thursday, May 8th will be given a dividend of $1.2225 per share. This represents a $4.89 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date of this dividend is Tuesday, May 6th. This is a positive change from Alliance Resource’s previous quarterly dividend of $1.20.
Separately, analysts at Raymond James downgraded shares of Alliance Resource from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, January 29th. They now have a $84.00 price target on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $86.92.
Alliance Resource Partners, L.P. (NASDAQ:ARLP) is a producer and marketer of coal primarily to the United States utilities and industrial users.
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