Peabody Energy (BTU) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Peabody Energy (NYSE:BTU) from a hold rating to a buy rating in a report published on Monday. They currently have $38.00 price target on the coal producer’s stock.
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. “
A number of other equities analysts have also recently commented on BTU. Stifel Nicolaus reissued a hold rating and set a $32.00 price target (up previously from $30.00) on shares of Peabody Energy in a report on Tuesday, August 8th. MKM Partners reissued a buy rating and set a $38.00 price target (up previously from $32.00) on shares of Peabody Energy in a report on Thursday, August 24th. Macquarie initiated coverage on Peabody Energy in a report on Thursday, September 7th. They set a neutral rating and a $30.00 price target for the company. FBR & Co set a $35.00 price target on Peabody Energy and gave the stock a buy rating in a report on Monday, September 11th. Finally, B. Riley reissued a buy rating on shares of Peabody Energy in a report on Wednesday, November 1st. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $36.44.
Peabody Energy (NYSE:BTU) last posted its quarterly earnings results on Wednesday, October 25th. The coal producer reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.14. Peabody Energy had a return on equity of 19.92% and a net margin of 4.60%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the firm earned ($7.53) EPS. Peabody Energy’s revenue was up 22.4% on a year-over-year basis. sell-side analysts predict that Peabody Energy will post 9.62 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of BTU. Strs Ohio acquired a new position in Peabody Energy in the 2nd quarter worth about $933,000. TD Asset Management Inc. acquired a new position in Peabody Energy in the 2nd quarter worth about $11,766,000. Schwab Charles Investment Management Inc. acquired a new position in Peabody Energy in the 2nd quarter worth about $9,104,000. Rhumbline Advisers acquired a new position in Peabody Energy in the 2nd quarter worth about $1,461,000. Finally, Dupont Capital Management Corp acquired a new position in Peabody Energy in the 2nd quarter worth about $5,148,000. 95.17% of the stock is owned by institutional investors and hedge funds.
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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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