Peabody Energy (NYSE:BTU) Trading 5.6% Higher Following Better-Than-Expected Earnings

Peabody Energy Co. (NYSE:BTU) rose 5.6% on Tuesday following a better than expected earnings announcement. The company traded as high as $14.25 and last traded at $14.29. Approximately 2,566,686 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 3,288,197 shares. The stock had previously closed at $13.53.

The coal producer reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.20. The firm had revenue of $937.00 million during the quarter, compared to analysts’ expectations of $976.57 million. Peabody Energy had a return on equity of 10.33% and a net margin of 8.75%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 EPS.

Peabody Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Thursday, May 15th will be issued a $0.075 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.09%. Peabody Energy’s payout ratio is 11.11%.

Analyst Ratings Changes

Several research firms have weighed in on BTU. Benchmark lowered their price target on shares of Peabody Energy from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday. B. Riley reduced their price target on Peabody Energy from $27.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, April 11th.

Institutional Investors Weigh In On Peabody Energy

Several hedge funds have recently made changes to their positions in BTU. Marshall Wace LLP purchased a new stake in shares of Peabody Energy in the 4th quarter worth approximately $15,352,000. Assenagon Asset Management S.A. increased its holdings in shares of Peabody Energy by 113.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,350,855 shares of the coal producer’s stock valued at $28,287,000 after acquiring an additional 718,274 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in shares of Peabody Energy in the 4th quarter worth about $8,565,000. Hudson Bay Capital Management LP grew its position in Peabody Energy by 30.4% during the 4th quarter. Hudson Bay Capital Management LP now owns 1,543,915 shares of the coal producer’s stock valued at $32,330,000 after purchasing an additional 360,000 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Peabody Energy by 105.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 646,152 shares of the coal producer’s stock valued at $13,530,000 after purchasing an additional 331,759 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Peabody Energy Stock Performance

The business’s 50 day simple moving average is $12.89 and its two-hundred day simple moving average is $18.36. The firm has a market capitalization of $1.75 billion, a P/E ratio of 5.32 and a beta of 0.49. The company has a current ratio of 2.15, a quick ratio of 1.68 and a debt-to-equity ratio of 0.27.

Peabody Energy Company Profile

Peabody Energy Corporation engages in coal mining business in the United States, Japan, Taiwan, Australia, India, Brazil, Belgium, Chile, France, Indonesia, China, Vietnam, South Korea, Germany, and internationally. The company operates through Seaborne Thermal, Seaborne Metallurgical, Powder River Basin, Other U.S.