Westmoreland Coal Co. (WLB) PT Raised to $16.00
Westmoreland Coal Co. (NASDAQ:WLB) had its target price increased by analysts at FBR & Co from $12.00 to $16.00 in a report released on Wednesday. The brokerage currently has an “outperform” rating on the stock. FBR & Co’s price objective points to a potential upside of 8.70% from the stock’s previous close.
Other research analysts have also issued reports about the company. Seaport Global Securities started coverage on Westmoreland Coal in a research report on Friday, November 4th. They set a “buy” rating and a $20.00 price target on the stock. Zacks Investment Research lowered Westmoreland Coal from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Finally, BMO Capital Markets reissued a “buy” rating and set a $8.00 price target on shares of Westmoreland Coal in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $12.25.
Westmoreland Coal (NASDAQ:WLB) opened at 14.72 on Wednesday. Westmoreland Coal has a 52-week low of $3.44 and a 52-week high of $15.70. The firm’s market capitalization is $273.35 million. The company’s 50-day moving average price is $9.83 and its 200 day moving average price is $8.92.
Westmoreland Coal (NASDAQ:WLB) last announced its earnings results on Tuesday, November 1st. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by $0.85. The firm earned $370.70 million during the quarter, compared to the consensus estimate of $387 million. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.59) earnings per share. Equities research analysts predict that Westmoreland Coal will post $1.09 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new position in shares of Westmoreland Coal during the second quarter valued at $370,000. Emerald Acquisition Ltd. purchased a new position in shares of Westmoreland Coal during the second quarter valued at $3,040,000. Monarch Partners Asset Management LLC raised its position in shares of Westmoreland Coal by 11.1% in the second quarter. Monarch Partners Asset Management LLC now owns 20,990 shares of the company’s stock valued at $200,000 after buying an additional 2,090 shares during the last quarter. Acrospire Investment Management LLC purchased a new position in shares of Westmoreland Coal during the second quarter valued at $204,000. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Westmoreland Coal by 4.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 18,103 shares of the company’s stock valued at $172,000 after buying an additional 806 shares during the last quarter. 67.93% of the stock is currently owned by institutional investors.
About Westmoreland Coal
Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal – U.S., Coal – Canada, Coal – Westmoreland Resource Partners, LP (WMLP), Power, Heritage and Corporate. Coal – U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico.
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