Peabody Energy (BTU) Upgraded to “Strong-Buy” at Zacks Investment Research
Peabody Energy (NYSE:BTU) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $44.00 price target on the coal producer’s stock. Zacks Investment Research‘s target price indicates a potential upside of 12.56% from the company’s current price.
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 topic of several other research reports. Jefferies Group upgraded shares of Peabody Energy to a “buy” rating and increased their price target for the stock from $38.00 to $43.00 in a report on Tuesday, December 5th. B. Riley reiterated a “buy” rating on shares of Peabody Energy in a report on Wednesday, November 1st. MKM Partners reiterated a “buy” rating on shares of Peabody Energy in a report on Tuesday, September 12th. FBR & Co reiterated a “buy” rating and issued a $37.00 price target (up previously from $36.00) on shares of Peabody Energy in a report on Wednesday, October 25th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $32.00 price target on shares of Peabody Energy in a report on Sunday, September 10th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Peabody Energy presently has a consensus rating of “Buy” and an average price target of $37.11.
Peabody Energy (NYSE:BTU) last announced its earnings results on Wednesday, October 25th. The coal producer reported $1.49 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.14. Peabody Energy had a net margin of 4.60% and a return on equity of 19.92%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the company posted ($7.53) earnings per share. The firm’s revenue was up 22.4% on a year-over-year basis. sell-side analysts anticipate that Peabody Energy will post 9.62 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in BTU. Ameritas Investment Partners Inc. purchased a new position in shares of Peabody Energy during the 2nd quarter valued at approximately $105,000. New York State Teachers Retirement System purchased a new position in shares of Peabody Energy during the 3rd quarter valued at approximately $125,000. FNY Partners Fund LP purchased a new position in shares of Peabody Energy during the 2nd quarter valued at approximately $146,000. BNP Paribas Arbitrage SA purchased a new position in shares of Peabody Energy during the 2nd quarter valued at approximately $162,000. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Peabody Energy during the 3rd quarter valued at approximately $209,000. Institutional investors and hedge funds own 95.17% of the company’s stock.
About Peabody Energy
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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