Peabody Energy Corporation (BTU) to Post FY2018 Earnings of $1.94 Per Share, Seaport Global Securities Forecasts
Peabody Energy Corporation (NYSE:BTU) – Investment analysts at Seaport Global Securities lifted their FY2018 earnings per share estimates for Peabody Energy Corporation in a research report issued to clients and investors on Monday. Seaport Global Securities analyst M. Levin now forecasts that the coal producer will post earnings of $1.94 per share for the year, up from their previous forecast of $1.82. Seaport Global Securities also issued estimates for Peabody Energy Corporation’s FY2019 earnings at $0.88 EPS.
Several other brokerages also recently weighed in on BTU. Stifel Nicolaus set a $32.00 price objective on Peabody Energy Corporation and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Macquarie began coverage on Peabody Energy Corporation in a research report on Thursday, September 7th. They set a “neutral” rating and a $30.00 price objective for the company. MKM Partners restated a “buy” rating on shares of Peabody Energy Corporation in a research report on Tuesday, September 12th. FBR & Co set a $35.00 price objective on Peabody Energy Corporation and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Finally, Zacks Investment Research upgraded Peabody Energy Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Peabody Energy Corporation presently has a consensus rating of “Buy” and an average price target of $35.14.
Peabody Energy Corporation (NYSE:BTU) traded up 2.11% on Tuesday, hitting $30.05. The company had a trading volume of 1,177,528 shares. The firm has a 50-day moving average price of $29.46 and a 200-day moving average price of $26.79. The firm’s market capitalization is $3.01 billion. Peabody Energy Corporation has a 12-month low of $22.58 and a 12-month high of $32.50.
Peabody Energy Corporation (NYSE:BTU) last released its quarterly earnings results on Tuesday, August 1st. The coal producer reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($1.07). The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.25 billion. Peabody Energy Corporation’s revenue was up 21.0% compared to the same quarter last year.
In other Peabody Energy Corporation news, major shareholder Discovery Capital Management, sold 12,800,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $27.10, for a total value of $346,880,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
A number of institutional investors have recently bought and sold shares of the business. Nationwide Fund Advisors raised its position in Peabody Energy Corporation by 20.2% in the third quarter. Nationwide Fund Advisors now owns 44,007 shares of the coal producer’s stock valued at $1,277,000 after purchasing an additional 7,403 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in Peabody Energy Corporation in the third quarter valued at about $399,000. Brookfield Asset Management Inc. bought a new position in Peabody Energy Corporation in the second quarter valued at about $28,800,000. Verition Fund Management LLC bought a new position in Peabody Energy Corporation in the second quarter valued at about $611,000. Finally, Glendon Capital Management LP bought a new position in Peabody Energy Corporation in the second quarter valued at about $2,431,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.
About Peabody Energy Corporation
Peabody Energy Corporation is a coal company. The Company’s segments include Powder River Basin Mining, Midwestern U.S. Mining, Western U.S. Mining, Australian Metallurgical Mining, Australian Thermal Mining, Trading and Brokerage, and Corporate and Other. Its Powder River Basin Mining operations consist of its mines in Wyoming.
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