$330.80 Million in Sales Expected for Westmoreland Coal Company (WLB) This Quarter
Analysts expect Westmoreland Coal Company (NASDAQ:WLB) to announce $330.80 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Westmoreland Coal’s earnings, with the highest sales estimate coming in at $331.00 million and the lowest estimate coming in at $330.60 million. Westmoreland Coal posted sales of $370.68 million during the same quarter last year, which suggests a negative year over year growth rate of 10.8%. The business is expected to issue its next quarterly earnings report on Tuesday, November 7th.
On average, analysts expect that Westmoreland Coal will report full-year sales of $330.80 million for the current financial year, with estimates ranging from $1.31 billion to $1.33 billion. For the next year, analysts anticipate that the business will report sales of $1.10 billion per share, with estimates ranging from $1.02 billion to $1.19 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Westmoreland Coal.
Westmoreland Coal (NASDAQ:WLB) last posted its quarterly earnings data on Thursday, August 3rd. The coal producer reported ($2.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.58) by ($1.11). The firm had revenue of $323.03 million for the quarter, compared to analyst estimates of $320.85 million.
Several research analysts have commented on the stock. FBR & Co reiterated a “buy” rating and issued a $7.00 target price on shares of Westmoreland Coal in a report on Friday, September 1st. Zacks Investment Research cut shares of Westmoreland Coal from a “hold” rating to a “strong sell” rating in a report on Thursday, August 24th. BMO Capital Markets cut shares of Westmoreland Coal from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $18.00 to $5.00 in a report on Thursday, August 3rd. Finally, ValuEngine cut shares of Westmoreland Coal from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $10.67.
Several hedge funds have recently bought and sold shares of WLB. Teachers Advisors LLC boosted its holdings in shares of Westmoreland Coal by 66.7% during the fourth quarter. Teachers Advisors LLC now owns 66,906 shares of the coal producer’s stock worth $1,182,000 after purchasing an additional 26,760 shares during the period. Nationwide Fund Advisors raised its position in Westmoreland Coal by 4.3% during the first quarter. Nationwide Fund Advisors now owns 93,894 shares of the coal producer’s stock valued at $1,363,000 after acquiring an additional 3,886 shares in the last quarter. Strs Ohio raised its position in Westmoreland Coal by 15.8% during the first quarter. Strs Ohio now owns 43,200 shares of the coal producer’s stock valued at $627,000 after acquiring an additional 5,900 shares in the last quarter. Russell Investments Group Ltd. raised its position in Westmoreland Coal by 0.8% during the first quarter. Russell Investments Group Ltd. now owns 106,341 shares of the coal producer’s stock valued at $1,543,000 after acquiring an additional 886 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Westmoreland Coal by 414.3% during the first quarter. American Century Companies Inc. now owns 266,468 shares of the coal producer’s stock valued at $3,869,000 after acquiring an additional 214,655 shares in the last quarter. Institutional investors and hedge funds own 78.25% of the company’s stock.
Westmoreland Coal (NASDAQ:WLB) opened at 2.60 on Friday. Westmoreland Coal has a 52-week low of $1.88 and a 52-week high of $19.92. The firm’s market cap is $48.73 million. The stock has a 50 day moving average of $2.66 and a 200-day moving average of $7.57.
About Westmoreland Coal
Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal-U.S., Coal-Canada, Coal-(WMLP), Power, Heritage and Corporate. The Coal-U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico. The Coal-Canada segment includes the operations of coal mines located in Alberta and Saskatchewan.
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