BidaskClub Upgrades Foresight Energy LP (FELP) to Sell
Foresight Energy LP (NYSE:FELP) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Friday.
FELP has been the subject of a number of other research reports. FBR & Co set a $5.00 price target on Foresight Energy and gave the stock a “hold” rating in a report on Tuesday, August 15th. Stifel Nicolaus reduced their target price on Foresight Energy from $6.50 to $5.50 and set a “hold” rating for the company in a research note on Wednesday, August 16th. ValuEngine cut Foresight Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Finally, Zacks Investment Research upgraded Foresight Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus price target of $5.92.
Foresight Energy (FELP) opened at 4.28 on Friday. The stock’s market cap is $609.42 million. The stock has a 50 day moving average of $4.23 and a 200 day moving average of $5.11. Foresight Energy has a 1-year low of $3.45 and a 1-year high of $8.33.
Foresight Energy (NYSE:FELP) last released its quarterly earnings results on Friday, August 11th. The energy company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. The firm had revenue of $207.10 million during the quarter, compared to analysts’ expectations of $228.40 million. Foresight Energy had a negative return on equity of 15.37% and a negative net margin of 21.13%. Foresight Energy’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) EPS. Equities analysts expect that Foresight Energy will post ($0.99) earnings per share for the current year.
About Foresight Energy
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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