Peabody Energy Corporation (BTU) Stock Rating Lowered by Zacks Investment Research
Peabody Energy Corporation (NYSE:BTU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Peabody Energy Corporation is a coal company. It provides voice in advocating for sustainable mining, energy access and clean coal technologies. The company serves metallurgical and thermal coal customers primarily in Arizona, Colorado, New Mexico and Wyoming, Illinois, Indiana and Australia. Peabody Energy Corporation is based in St Louis, United States. “
BTU has been the subject of a number of other reports. FBR & Co lifted their target price on Peabody Energy Corporation from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Macquarie began coverage on Peabody Energy Corporation in a research note on Thursday, September 7th. They issued a “neutral” rating and a $30.00 target price for the company. Stifel Nicolaus set a $32.00 target price on Peabody Energy Corporation and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Finally, MKM Partners restated a “buy” rating on shares of Peabody Energy Corporation in a research note on Tuesday, September 12th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $35.13.
Peabody Energy Corporation (BTU) traded up 0.98% during mid-day trading on Tuesday, reaching $30.89. The company’s stock had a trading volume of 1,112,933 shares. Peabody Energy Corporation has a 52 week low of $22.58 and a 52 week high of $32.50. The stock’s market capitalization is $3.10 billion. The firm has a 50-day moving average of $29.61 and a 200-day moving average of $26.94.
Peabody Energy Corporation (NYSE:BTU) last issued its earnings results on Wednesday, October 25th. The coal producer reported $1.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.14. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm earned ($7.53) earnings per share. The business’s revenue was up 22.4% on a year-over-year basis. On average, equities research analysts expect that Peabody Energy Corporation will post $6.28 earnings per share for the current year.
In other news, major shareholder Discovery Capital Management, sold 12,800,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $27.10, for a total transaction of $346,880,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new position in shares of Peabody Energy Corporation during the second quarter worth approximately $105,000. New York State Teachers Retirement System acquired a new position in shares of Peabody Energy Corporation during the third quarter worth approximately $125,000. FNY Partners Fund LP acquired a new position in shares of Peabody Energy Corporation during the second quarter worth approximately $146,000. BNP Paribas Arbitrage SA acquired a new position in shares of Peabody Energy Corporation during the second quarter worth approximately $162,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Peabody Energy Corporation during the third quarter worth approximately $252,000. Institutional investors and hedge funds own 98.04% of the company’s stock.
Peabody Energy Corporation Company Profile
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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