Foresight Energy LP (FELP) Expected to Announce Quarterly Sales of $228.40 Million
Equities research analysts expect Foresight Energy LP (NYSE:FELP) to post $228.40 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Foresight Energy’s earnings. The highest sales estimate is $230.40 million and the lowest is $226.40 million. Foresight Energy reported sales of $226.00 million in the same quarter last year, which indicates a positive year over year growth rate of 1.1%. The company is scheduled to announce its next earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Foresight Energy will report full year sales of $228.40 million for the current financial year, with estimates ranging from $906.00 million to $920.00 million. For the next fiscal year, analysts expect that the business will report sales of $933.55 million per share, with estimates ranging from $863.30 million to $1.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Foresight Energy.
Foresight Energy (NYSE:FELP) last issued its quarterly earnings data on Thursday, May 11th. The energy company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by $0.11. The company had revenue of $230.40 million during the quarter, compared to analysts’ expectations of $225.10 million. Foresight Energy had a negative net margin of 48.26% and a negative return on equity of 105.44%. The firm’s quarterly revenue was up 38.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 earnings per share.
FELP has been the topic of a number of research analyst reports. BidaskClub lowered Foresight Energy from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Stifel Nicolaus reiterated a “hold” rating and issued a $6.50 price objective (down from $8.00) on shares of Foresight Energy in a research report on Tuesday, May 16th. FBR & Co decreased their price objective on Foresight Energy from $6.00 to $4.00 and set a “mkt perform” rating on the stock in a research report on Monday, May 15th. Finally, Zacks Investment Research downgraded Foresight Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd.
Shares of Foresight Energy (NYSE:FELP) traded up 0.6213% during trading on Friday, hitting $4.4374. The stock had a trading volume of 1,331 shares. The stock’s 50-day moving average price is $4.93 and its 200-day moving average price is $6.10. Foresight Energy has a one year low of $1.50 and a one year high of $8.33. The company’s market cap is $624.28 million.
A hedge fund recently raised its stake in Foresight Energy stock. Renaissance Technologies LLC raised its position in Foresight Energy LP (NYSE:FELP) by 65.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 111,360 shares of the energy company’s stock after buying an additional 43,960 shares during the period. Renaissance Technologies LLC owned 0.08% of Foresight Energy worth $720,000 as of its most recent SEC filing. 11.47% of the stock is owned by hedge funds and other institutional investors.
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About Foresight Energy
Foresight Energy LP is engaged in the mining and marketing of coal from reserves and operations located in the Illinois Basin. As of December 31, 2016, the Company controlled 2.1 billion tons of coal in the state of Illinois. Its reserves consist principally of three contiguous blocks of uniform, thick, high heat content (high Btu) thermal coal, which are used for longwall operations.
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