Morningstar Gives B- Credit Rating to Arch Coal (ACI)
Arch Coal (NYSE:ACI) has earned a “B-” credit rating from Morningstar. The firm’s “B-” rating indicates that the company is a high default risk. They also issued a negative credit outlook for the company and gave their stock a three star rating.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Arch Coal in a research note on Thursday, July 31st. They now have a $3.00 price target on the stock. Separately, analysts at Howard Weil cut their price target on shares of Arch Coal from $6.00 to $5.00 in a research note on Monday, July 21st. They now have a “sector perform” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Arch Coal in a research note on Monday, July 14th. They now have a $3.80 price target on the stock, down previously from $4.70. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Arch Coal currently has an average rating of “Hold” and a consensus target price of $4.20.
Shares of Arch Coal (NYSE:ACI) opened at 3.05 on Tuesday. Arch Coal has a 52 week low of $2.82 and a 52 week high of $5.37. The stock’s 50-day moving average is $3.09 and its 200-day moving average is $3.89. The company’s market cap is $647.5 million. Arch Coal also was the target of a large increase in short interest in August. As of August 15th, there was short interest totalling 38,346,610 shares, an increase of 7.7% from the July 31st total of 35,599,572 shares. Approximately 18.2% of the company’s shares are sold short. Based on an average daily trading volume, of 4,990,915 shares, the short-interest ratio is currently 7.7 days.
Arch Coal (NYSE:ACI) last released its earnings data on Tuesday, July 29th. The company reported ($0.46) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.49) by $0.03. The company had revenue of $714.00 million for the quarter, compared to the consensus estimate of $720.04 million. During the same quarter in the prior year, the company posted ($0.29) earnings per share. The company’s quarterly revenue was down 6.9% on a year-over-year basis. On average, analysts predict that Arch Coal will post $-1.86 earnings per share for the current fiscal year.
Arch Coal, Inc (NYSE:ACI) is the coal producer.
To view more credit ratings from Morningstar, visit www.morningstar.com.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.