FBR & Co Analysts Give Westmoreland Coal Co. (WLB) a $12.00 Price Target
Westmoreland Coal Co. (NASDAQ:WLB) has been assigned a $12.00 target price by investment analysts at FBR & Co in a note issued to investors on Thursday. The brokerage presently has a an “outperform” rating on the stock. FBR & Co’s target price would indicate a potential upside of 31.15% from the company’s previous close.
WLB has been the topic of several other reports. BMO Capital Markets restated a “buy” rating and set a $8.00 target price on shares of Westmoreland Coal in a research note on Wednesday, August 3rd. Zacks Investment Research downgraded Westmoreland Coal from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th.
Westmoreland Coal (NASDAQ:WLB) opened at 9.15 on Thursday. The stock has a 50 day moving average price of $8.69 and a 200 day moving average price of $8.45. The company’s market cap is $169.91 million. Westmoreland Coal has a 1-year low of $3.44 and a 1-year high of $14.50.
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Westmoreland Coal (NASDAQ:WLB) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($1.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by $1.11. The firm earned $356.20 million during the quarter, compared to analyst estimates of $352.90 million. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Westmoreland Coal will post $1.66 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of WLB. American International Group Inc. boosted its position in shares of Westmoreland Coal by 1.1% in the second quarter. American International Group Inc. now owns 10,602 shares of the company’s stock valued at $101,000 after buying an additional 114 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Westmoreland Coal by 4.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 18,103 shares of the company’s stock valued at $172,000 after buying an additional 806 shares during the period. Monarch Partners Asset Management LLC boosted its position in shares of Westmoreland Coal by 11.1% in the second quarter. Monarch Partners Asset Management LLC now owns 20,990 shares of the company’s stock valued at $200,000 after buying an additional 2,090 shares during the period. Acrospire Investment Management LLC bought a new position in shares of Westmoreland Coal during the second quarter valued at about $204,000. Finally, Panagora Asset Management Inc. boosted its position in shares of Westmoreland Coal by 66.6% in the second quarter. Panagora Asset Management Inc. now owns 23,795 shares of the company’s stock valued at $226,000 after buying an additional 9,515 shares during the period. 66.74% of the stock is owned by institutional investors and hedge funds.
Westmoreland Coal Company Profile
Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal – U.S., Coal – Canada, Coal – Westmoreland Resource Partners, LP (WMLP), Power, Heritage and Corporate. Coal – U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico.
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