Peabody Energy Rating Increased to Overweight at Morgan Stanley (BTU)
Peabody Energy (NYSE:BTU) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday, AmericanBankingNews.com reports. The firm currently has a $30.00 target price on the stock, up from their previous target price of $20.00. Morgan Stanley’s price target indicates a potential upside of 59.66% from the company’s current price.
Shares of Peabody Energy (NYSE:BTU) opened at 18.79 on Monday. Peabody Energy has a 52 week low of $14.34 and a 52 week high of $21.85. The stock has a 50-day moving average of $17.79 and a 200-day moving average of $17.85. The company’s market cap is $5.034 billion. Peabody Energy also saw a significant increase in short interest during the month of April. As of April 30th, there was short interest totalling 26,810,594 shares, an increase of 14.6% from the April 15th total of 23,405,136 shares. Based on an average trading volume of 11,330,057 shares, the short-interest ratio is presently 2.4 days. Approximately 9.9% of the shares of the stock are short sold.
Peabody Energy (NYSE:BTU) last released its earnings data on Thursday, April 24th. The company reported ($0.19) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.01) by $0.18. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was down 6.9% on a year-over-year basis. On average, analysts predict that Peabody Energy will post $-0.68 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, June 12th. Investors of record on Thursday, May 22nd will be paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Tuesday, May 20th.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Peabody Energy in a research note on Friday, May 9th. They now have a $19.00 price target on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of Peabody Energy from $20.00 to $21.00 in a research note on Monday, April 28th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Peabody Energy currently has a consensus rating of “Buy” and a consensus price target of $23.20.
Peabody Energy Corporation (NYSE:BTU) is a private-sector coal company.
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