Westmoreland Coal Company (WLB) Expected to Announce Quarterly Sales of $335.30 Million
Equities analysts expect Westmoreland Coal Company (NASDAQ:WLB) to report sales of $335.30 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Westmoreland Coal’s earnings, with estimates ranging from $330.60 million to $340.00 million. Westmoreland Coal reported sales of $370.68 million during the same quarter last year, which would suggest a negative year over year growth rate of 9.5%. The firm is expected to report its next quarterly earnings results before the market opens on Tuesday, October 31st.
On average, analysts expect that Westmoreland Coal will report full-year sales of $335.30 million for the current fiscal year, with estimates ranging from $1.31 billion to $1.33 billion. For the next year, analysts anticipate that the business will post sales of $1.08 billion per share, with estimates ranging from $973.00 million to $1.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Westmoreland Coal.
Westmoreland Coal (NASDAQ:WLB) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $320.85 million.
Several analysts recently issued reports on the stock. BMO Capital Markets lowered shares of Westmoreland Coal from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $18.00 to $5.00 in a report on Thursday, August 3rd. FBR & Co restated a “buy” rating and issued a $7.00 price objective on shares of Westmoreland Coal in a report on Friday, September 1st. Finally, Zacks Investment Research lowered shares of Westmoreland Coal from a “hold” rating to a “strong sell” rating in a report on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Westmoreland Coal currently has an average rating of “Hold” and an average price target of $10.67.
A number of large investors have recently modified their holdings of WLB. AQR Capital Management LLC increased its stake in Westmoreland Coal by 266.0% during the first quarter. AQR Capital Management LLC now owns 488,896 shares of the coal producer’s stock worth $7,099,000 after purchasing an additional 355,331 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Westmoreland Coal during the second quarter worth about $1,340,000. Renaissance Technologies LLC increased its stake in Westmoreland Coal by 58.6% during the first quarter. Renaissance Technologies LLC now owns 527,500 shares of the coal producer’s stock worth $7,659,000 after purchasing an additional 194,800 shares during the period. Ameriprise Financial Inc. purchased a new stake in Westmoreland Coal during the first quarter worth about $2,589,000. Finally, Boston Partners increased its stake in Westmoreland Coal by 57.1% during the second quarter. Boston Partners now owns 485,890 shares of the coal producer’s stock worth $2,366,000 after purchasing an additional 176,600 shares during the period. Institutional investors own 78.24% of the company’s stock.
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Westmoreland Coal (NASDAQ:WLB) traded down 2.65% on Monday, reaching $2.20. 186,597 shares of the company traded hands. The stock has a 50 day moving average of $2.41 and a 200-day moving average of $5.50. The stock’s market capitalization is $41.23 million. Westmoreland Coal has a 1-year low of $1.88 and a 1-year high of $19.92.
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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