Jefferies Group LLC initiated coverage on shares of Peabody Energy Corporation (NYSE:BTU) in a research note released on Tuesday. The brokerage issued a buy rating and a $38.00 target price on the coal producer’s stock.
Several other research analysts have also weighed in on the stock. ValuEngine lowered shares of Peabody Energy Corporation from a buy rating to a hold rating in a research report on Thursday, November 9th. B. Riley restated a buy rating on shares of Peabody Energy Corporation in a research report on Wednesday, November 1st. Zacks Investment Research lowered shares of Peabody Energy Corporation from a buy rating to a hold rating in a research report on Tuesday, October 31st. FBR & Co restated a buy rating and set a $37.00 target price (up from $36.00) on shares of Peabody Energy Corporation in a research report on Wednesday, October 25th. Finally, MKM Partners reiterated a buy rating on shares of Peabody Energy Corporation in a research report on Tuesday, September 12th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $35.44.
Peabody Energy Corporation (BTU) traded up $0.21 during midday trading on Tuesday, reaching $31.39. 1,866,400 shares of the company traded hands, compared to its average volume of 1,196,789. Peabody Energy Corporation has a 52-week low of $22.58 and a 52-week high of $32.50. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.75 and a quick ratio of 1.47.
Peabody Energy Corporation (NYSE:BTU) last posted its quarterly earnings results on Wednesday, October 25th. The coal producer reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.14. Peabody Energy Corporation had a net margin of 4.60% and a return on equity of 19.92%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the company posted ($7.53) earnings per share. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. sell-side analysts predict that Peabody Energy Corporation will post 9.62 EPS for the current fiscal year.
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In related news, major shareholder Discovery Capital Management, sold 12,800,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $27.10, for a total transaction of $346,880,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have purchased 72,000 shares of company stock worth $10,845.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc raised its stake in Peabody Energy Corporation by 28.5% during the third quarter. Legal & General Group Plc now owns 16,302 shares of the coal producer’s stock worth $473,000 after purchasing an additional 3,616 shares during the period. American Century Companies Inc. raised its stake in Peabody Energy Corporation by 14.1% during the third quarter. American Century Companies Inc. now owns 33,794 shares of the coal producer’s stock worth $980,000 after purchasing an additional 4,181 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Peabody Energy Corporation during the second quarter worth approximately $105,000. New York State Teachers Retirement System purchased a new position in Peabody Energy Corporation during the third quarter worth approximately $125,000. Finally, Van ECK Associates Corp raised its stake in Peabody Energy Corporation by 4.9% during the third quarter. Van ECK Associates Corp now owns 115,841 shares of the coal producer’s stock worth $3,361,000 after purchasing an additional 5,444 shares during the period. Hedge funds and other institutional investors own 95.23% 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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