Peabody Energy (BTU) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of Peabody Energy (NYSE:BTU) from a strong-buy rating to a hold rating in a report issued on Monday.
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. “
Several other research firms have also recently weighed in on BTU. B. Riley reissued a buy rating on shares of Peabody Energy in a research report on Wednesday, November 1st. Jefferies Group raised Peabody Energy to a buy rating and boosted their price objective for the stock from $38.00 to $43.00 in a research report on Tuesday, December 5th. FBR & Co set a $35.00 price objective on Peabody Energy and gave the stock a buy rating in a research report on Monday, September 11th. MKM Partners reissued a buy rating on shares of Peabody Energy in a research report on Tuesday, September 12th. Finally, ValuEngine raised Peabody Energy from a hold rating to a buy rating in a research report on Friday, December 1st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Peabody Energy has a consensus rating of Buy and a consensus target price of $37.11.
Peabody Energy (NYSE:BTU) last announced its quarterly earnings results on Wednesday, October 25th. The coal producer reported $1.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.14. Peabody Energy had a return on equity of 19.92% and a net margin of 4.60%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the company posted ($7.53) earnings per share. Peabody Energy’s revenue was up 22.4% compared to the same quarter last year. equities research analysts predict that Peabody Energy will post 9.62 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the business. Legal & General Group Plc lifted its position in shares of Peabody Energy by 28.5% during the 3rd quarter. Legal & General Group Plc now owns 16,302 shares of the coal producer’s stock valued at $473,000 after buying an additional 3,616 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Peabody Energy by 14.1% during the 3rd quarter. American Century Companies Inc. now owns 33,794 shares of the coal producer’s stock valued at $980,000 after buying an additional 4,181 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Peabody Energy during the 2nd quarter valued at $105,000. New York State Teachers Retirement System purchased a new position in shares of Peabody Energy during the 3rd quarter valued at $125,000. Finally, Van ECK Associates Corp lifted its position in shares of Peabody Energy by 4.9% during the 3rd quarter. Van ECK Associates Corp now owns 115,841 shares of the coal producer’s stock valued at $3,361,000 after buying an additional 5,444 shares during the last quarter. 95.17% of the stock is currently owned by institutional investors and hedge funds.
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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