$335.30 Million in Sales Expected for Westmoreland Coal Company (WLB) This Quarter
Analysts expect that Westmoreland Coal Company (NASDAQ:WLB) will post $335.30 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Westmoreland Coal’s earnings, with the lowest sales estimate coming in at $330.60 million and the highest estimate coming in at $340.00 million. Westmoreland Coal reported sales of $370.68 million in the same quarter last year, which would suggest a negative year over year growth rate of 9.5%. The company is scheduled to issue its next quarterly earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Westmoreland Coal will report full-year sales of $335.30 million for the current year, with estimates ranging from $1.31 billion to $1.33 billion. For the next year, analysts anticipate that the firm will report sales of $1.08 billion per share, with estimates ranging from $973.00 million to $1.19 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Westmoreland Coal.
Westmoreland Coal (NASDAQ:WLB) last announced its earnings results on Thursday, August 3rd. The coal producer reported ($2.69) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.58) by ($1.11). The company had revenue of $323.03 million during the quarter, compared to analyst estimates of $320.85 million.
Several research analysts have recently commented on the company. Zacks Investment Research downgraded Westmoreland Coal from a “hold” rating to a “strong sell” rating in a report on Thursday, August 24th. FBR & Co increased their target price on Westmoreland Coal from $8.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, June 23rd. BMO Capital Markets cut Westmoreland Coal from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $18.00 to $5.00 in a report on Thursday, August 3rd. Finally, ValuEngine lowered Westmoreland Coal from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 6th. Two research 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 company presently has a consensus rating of “Hold” and a consensus target price of $10.67.
Westmoreland Coal (NASDAQ WLB) traded up 2.05% during mid-day trading on Wednesday, reaching $2.98. 236,582 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $2.34 and a 200-day moving average of $6.50. Westmoreland Coal has a one year low of $1.88 and a one year high of $19.92. The stock’s market cap is $55.85 million.
A number of large investors have recently bought and sold shares of the stock. Western Standard LLC purchased a new stake in Westmoreland Coal during the 2nd quarter valued at $123,000. Alliancebernstein L.P. grew its holdings in Westmoreland Coal by 35.6% in the 2nd quarter. Alliancebernstein L.P. now owns 27,400 shares of the coal producer’s stock worth $133,000 after acquiring an additional 7,200 shares during the last quarter. American International Group Inc. grew its holdings in Westmoreland Coal by 7.1% in the 1st quarter. American International Group Inc. now owns 11,341 shares of the coal producer’s stock worth $165,000 after acquiring an additional 751 shares during the last quarter. Tudor Investment Corp ET AL increased its position in shares of Westmoreland Coal by 166.7% in the second quarter. Tudor Investment Corp ET AL now owns 38,012 shares of the coal producer’s stock valued at $185,000 after acquiring an additional 23,758 shares during the period. Finally, OppenheimerFunds Inc. increased its position in shares of Westmoreland Coal by 4.3% in the first quarter. OppenheimerFunds Inc. now owns 13,899 shares of the coal producer’s stock valued at $202,000 after acquiring an additional 579 shares during the period. Institutional investors own 78.24% of the company’s stock.
Westmoreland Coal Company Profile
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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