Walter Energy’s “Underperform” Rating Reaffirmed at Macquarie (WLT)
Walter Energy (NYSE:WLT)‘s stock had its “underperform” rating restated by stock analysts at Macquarie in a report issued on Wednesday. They currently have a $4.00 price objective on the stock, down from their previous price objective of $5.00. Macquarie’s target price would suggest a potential downside of 8.05% from the company’s current price.
Shares of Walter Energy (NYSE:WLT) traded up 1.82% during mid-day trading on Wednesday, hitting $4.4291. The stock had a trading volume of 3,576,259 shares. Walter Energy has a 52-week low of $4.25 and a 52-week high of $19.50. The stock has a 50-day moving average of $6.57 and a 200-day moving average of $10.59. The company’s market cap is $291.5 million. Walter Energy also was the recipient of unusually large options trading on Monday. Stock investors acquired 10,439 call options on the stock. This is an increase of 151% compared to the typical volume of 4,153 call options.
Walter Energy (NYSE:WLT) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by $0.28. The company had revenue of $413.90 million for the quarter, compared to the consensus estimate of $447.21 million. During the same quarter in the previous year, the company posted ($0.64) earnings per share. The company’s revenue for the quarter was down 15.8% on a year-over-year basis. On average, analysts predict that Walter Energy will post $-5.53 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 9th. Stockholders of record on Monday, May 12th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, May 8th.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Walter Energy in a research note on Monday, May 5th. They now have a $7.50 price target on the stock. Separately, analysts at Nomura reiterated a “neutral” rating on shares of Walter Energy in a research note on Friday, May 2nd. They now have a $8.00 price target on the stock. Finally, analysts at Clarkson Capital downgraded shares of Walter Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, April 28th. They now have a $9.00 price target on the stock, down previously from $15.00. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $10.21.
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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