Foresight Energy LP (FELP) Downgraded by ValuEngine to “Sell”
ValuEngine downgraded shares of Foresight Energy LP (NYSE:FELP) from a hold rating to a sell rating in a report issued on Monday morning.
FELP has been the topic of a number of other reports. BidaskClub cut Foresight Energy from a sell rating to a strong sell rating in a research note on Wednesday, July 12th. Zacks Investment Research raised Foresight Energy from a sell rating to a hold rating in a research report on Friday, September 22nd. Stifel Nicolaus lowered their price objective on Foresight Energy from $6.50 to $5.50 and set a hold rating for the company in a research report on Wednesday, August 16th. Finally, FBR & Co set a $5.00 price objective on Foresight Energy and gave the company a hold rating in a report on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Foresight Energy presently has an average rating of Hold and a consensus target price of $5.92.
Foresight Energy (NYSE:FELP) traded up 4.67% on Monday, hitting $4.26. 604 shares of the company traded hands. The stock’s 50-day moving average is $4.20 and its 200 day moving average is $4.88. Foresight Energy has a 12 month low of $3.53 and a 12 month high of $8.33. The firm’s market capitalization is $606.58 million.
Foresight Energy (NYSE:FELP) last released its quarterly earnings data on Friday, August 11th. The energy company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The business had revenue of $207.10 million during the quarter, compared to analysts’ expectations of $228.40 million. Foresight Energy had a negative net margin of 21.13% and a negative return on equity of 15.37%. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.11) EPS. Equities analysts forecast that Foresight Energy will post ($0.99) EPS for the current fiscal year.
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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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