Arch Coal, Inc. Class A (NYSE:ARCH) posted its quarterly earnings results on Tuesday, February 13th. The energy company reported $4.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.32 by $1.80, Bloomberg Earnings reports. The business had revenue of $560.20 million during the quarter, compared to analysts’ expectations of $574.83 million. During the same quarter in the previous year, the business posted $1.65 EPS. The company’s quarterly revenue was down 2.7% on a year-over-year basis.
Arch Coal, Inc. Class A (ARCH) traded down $3.44 on Thursday, hitting $96.29. 220,125 shares of the stock were exchanged, compared to its average volume of 373,064. Arch Coal, Inc. Class A has a 12 month low of $60.13 and a 12 month high of $101.84. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.10 and a current ratio of 2.49.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Monday, March 5th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.66%. This is a positive change from Arch Coal, Inc. Class A’s previous quarterly dividend of $0.35.
ARCH has been the topic of several research reports. Stifel Nicolaus set a $109.00 price target on shares of Arch Coal, Inc. Class A and gave the company a “buy” rating in a report on Tuesday, January 16th. Zacks Investment Research upgraded shares of Arch Coal, Inc. Class A from a “hold” rating to a “strong-buy” rating and set a $107.00 price target on the stock in a report on Tuesday, January 2nd. ValuEngine upgraded shares of Arch Coal, Inc. Class A from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 28th. B. Riley set a $95.00 price target on shares of Arch Coal, Inc. Class A and gave the company a “buy” rating in a report on Tuesday, November 14th. Finally, JPMorgan Chase & Co. lowered shares of Arch Coal, Inc. Class A from an “overweight” rating to a “neutral” rating and set a $90.00 price target on the stock. in a report on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $101.25.
In other news, major shareholder Monarch Alternative Capital Lp sold 500,000 shares of Arch Coal, Inc. Class A stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $85.26, for a total transaction of $42,630,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.34% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Arch Coal, Inc. Class A by 140.6% during the second quarter. Royal Bank of Canada now owns 1,655 shares of the energy company’s stock valued at $113,000 after purchasing an additional 967 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Arch Coal, Inc. Class A during the second quarter worth approximately $131,000. Envestnet Asset Management Inc. grew its position in shares of Arch Coal, Inc. Class A by 100.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,449 shares of the energy company’s stock worth $135,000 after buying an additional 725 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Arch Coal, Inc. Class A during the third quarter worth approximately $136,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Arch Coal, Inc. Class A during the third quarter worth approximately $155,000. Institutional investors own 59.74% of the company’s stock.
About Arch Coal, Inc. Class A
Arch Coal, Inc is a coal producer. The Company is engaged in the production of thermal and metallurgical coal from surface and underground mines located throughout the United States, for sale to utility, industrial and steel producers both in the United States and around the world. The Company operates mining complexes in West Virginia, Kentucky, Maryland, Virginia, Illinois, Wyoming and Colorado.
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