Equities research analysts predict that Westmoreland Coal (NASDAQ:WLB) will report $302.30 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Westmoreland Coal’s earnings, with the highest sales estimate coming in at $317.60 million and the lowest estimate coming in at $287.00 million. Westmoreland Coal reported sales of $392.74 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 23%. The business is expected to issue its next earnings results on Tuesday, March 27th.
According to Zacks, analysts expect that Westmoreland Coal will report full year sales of $302.30 million for the current year, with estimates ranging from $1.31 billion to $1.34 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.13 billion per share, with estimates ranging from $1.06 billion to $1.19 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Westmoreland Coal.
WLB has been the subject of several recent research reports. ValuEngine raised shares of Westmoreland Coal from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Zacks Investment Research raised shares of Westmoreland Coal from a “sell” rating to a “hold” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Westmoreland Coal currently has an average rating of “Hold” and a consensus price target of $6.00.
Several large investors have recently modified their holdings of the company. Alliancebernstein L.P. increased its position in shares of Westmoreland Coal by 35.6% during the second quarter. Alliancebernstein L.P. now owns 27,400 shares of the coal producer’s stock valued at $133,000 after buying an additional 7,200 shares during the period. Creative Planning increased its position in shares of Westmoreland Coal by 169.2% during the fourth quarter. Creative Planning now owns 130,016 shares of the coal producer’s stock valued at $157,000 after buying an additional 81,710 shares during the period. Teachers Advisors LLC increased its position in shares of Westmoreland Coal by 9.2% during the second quarter. Teachers Advisors LLC now owns 77,144 shares of the coal producer’s stock valued at $376,000 after buying an additional 6,478 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Westmoreland Coal by 76.4% during the second quarter. Goldman Sachs Group Inc. now owns 82,539 shares of the coal producer’s stock valued at $402,000 after buying an additional 35,744 shares during the period. Finally, Macquarie Group Ltd. purchased a new position in shares of Westmoreland Coal during the third quarter valued at about $531,000. 51.04% of the stock is owned by hedge funds and other institutional investors.
Westmoreland Coal (WLB) traded down $0.03 during trading on Monday, reaching $0.43. 274,124 shares of the company’s stock traded hands, compared to its average volume of 489,036. The company has a debt-to-equity ratio of -1.32, a current ratio of 1.04 and a quick ratio of 0.71. The company has a market capitalization of $8.42, a P/E ratio of -0.07 and a beta of 1.07. Westmoreland Coal has a 1-year low of $0.40 and a 1-year high of $16.00.
Westmoreland Coal Company Profile
Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal-U.S., Coal-Canada, Coal-(WMLP), Power, Heritage and Corporate. The Coal-U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico. The Coal-Canada segment includes the operations of coal mines located in Alberta and Saskatchewan.
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