Foresight Energy LP (FELP) Expected to Post Earnings of -$0.05 Per Share
Wall Street brokerages forecast that Foresight Energy LP (NYSE:FELP) will announce earnings of ($0.05) per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Foresight Energy’s earnings, with the lowest EPS estimate coming in at ($0.06) and the highest estimate coming in at ($0.04). Foresight Energy posted earnings per share of ($0.06) in the same quarter last year, which indicates a positive year-over-year growth rate of 16.7%. The business is expected to issue its next earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Foresight Energy will report full year earnings of ($1.01) per share for the current year, with EPS estimates ranging from ($1.02) to ($1.00). For the next financial year, analysts expect that the company will report earnings of ($0.42) per share, with EPS estimates ranging from ($0.55) to ($0.28). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Foresight Energy.
Foresight Energy (NYSE:FELP) last issued its quarterly earnings results on Friday, August 11th. The energy company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. Foresight Energy had a negative net margin of 21.13% and a negative return on equity of 15.37%. The company had revenue of $207.10 million during the quarter, compared to analysts’ expectations of $228.40 million. During the same quarter last year, the company posted ($0.11) EPS. The firm’s revenue was down 8.4% compared to the same quarter last year.
Several research firms have recently issued reports on FELP. Stifel Nicolaus dropped their price objective on shares of Foresight Energy from $6.50 to $5.50 and set a “hold” rating for the company in a research report on Wednesday, August 16th. Zacks Investment Research raised shares of Foresight Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. FBR & Co set a $5.00 price objective on shares of Foresight Energy and gave the stock a “hold” rating in a research report on Tuesday, August 15th. Finally, BidaskClub lowered shares of Foresight Energy from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th.
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Shares of Foresight Energy (NYSE:FELP) traded up 0.94% during trading on Monday, reaching $4.30. 27,036 shares of the company’s stock traded hands. Foresight Energy has a 1-year low of $3.29 and a 1-year high of $8.33. The company’s market capitalization is $612.27 million. The stock has a 50-day moving average of $4.42 and a 200-day moving average of $5.42.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Monday, August 21st will be given a $0.0647 dividend. This represents a $0.26 annualized dividend and a dividend yield of 6.02%. The ex-dividend date of this dividend is Thursday, August 17th. Foresight Energy’s payout ratio is currently -14.36%.
An institutional investor recently raised its position in Foresight Energy stock. Renaissance Technologies LLC boosted its position in shares of Foresight Energy LP (NYSE:FELP) by 65.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,360 shares of the energy company’s stock after buying an additional 43,960 shares during the period. Renaissance Technologies LLC owned 0.08% of Foresight Energy worth $720,000 as of its most recent filing with the SEC. 11.46% of the stock is owned by hedge funds and other institutional investors.
Foresight Energy Company Profile
Foresight Energy LP is engaged in the mining and marketing of coal from reserves and operations located in the Illinois Basin. As of December 31, 2016, the Company controlled 2.1 billion tons of coal in the state of Illinois. Its reserves consist principally of three contiguous blocks of uniform, thick, high heat content (high Btu) thermal coal, which are used for longwall operations.
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