Alliance Resource Partners, L.P.’s “Outperform” Rating Reaffirmed at Raymond James (ARLP)
Alliance Resource Partners, L.P. (NASDAQ:ARLP)‘s stock had its “outperform” rating restated by analysts at Raymond James in a research report issued to clients and investors on Tuesday. They currently have a $56.00 price objective on the stock, up from their previous price objective of $52.00. Raymond James’ price target would indicate a potential upside of 9.20% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company raised their price target on shares of Alliance Resource Partners, L.P. from $50.00 to $55.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks upgraded shares of Alliance Resource Partners, L.P. from a “neutral” rating to an “outperform” rating in a research note on Monday, June 9th. They now have a $47.65 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Alliance Resource Partners, L.P. from $37.50 to $47.50 in a research note on Friday, May 2nd. They now have a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $49.95.
Alliance Resource Partners, L.P. (NASDAQ:ARLP) traded up 2.28% during mid-day trading on Tuesday, hitting $51.23. The stock had a trading volume of 155,212 shares. Alliance Resource Partners, L.P. has a 52 week low of $34.00 and a 52 week high of $51.16. The stock’s 50-day moving average is $46.03 and its 200-day moving average is $43.3. The company has a market cap of $3.794 billion and a P/E ratio of 13.35.
Alliance Resource Partners, L.P. (NASDAQ:ARLP) last issued its quarterly earnings data on Monday, July 28th. The company reported $1.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.00 by $0.37. The company had revenue of $598.56 million for the quarter, compared to the consensus estimate of $574.31 million. During the same quarter in the prior year, the company posted $1.96 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts predict that Alliance Resource Partners, L.P. will post $4.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Investors of record on Thursday, August 7th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Tuesday, August 5th. This is an increase from Alliance Resource Partners, L.P.’s previous quarterly dividend of $0.61.
Alliance Resource Partners, L.P. (NASDAQ:ARLP) is a producer and marketer of coals to United States utilities and industrial users.
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