B. Riley Trims Arch Coal (NYSE:ARCH) Target Price to $100.00

Arch Coal (NYSE:ARCH) had its price objective lowered by B. Riley from $118.00 to $100.00 in a research report released on Tuesday morning, Briefing.com Automated Import reports. The brokerage currently has a buy rating on the energy company’s stock. B. Riley also issued estimates for Arch Coal’s FY2020 earnings at $9.10 EPS and FY2021 earnings at $8.87 EPS.

A number of other brokerages also recently commented on ARCH. BMO Capital Markets upped their target price on Arch Coal from $100.00 to $110.00 and gave the stock an outperform rating in a research note on Wednesday, October 23rd. Zacks Investment Research upgraded Arch Coal from a strong sell rating to a hold rating in a research note on Friday, October 25th. Seaport Global Securities set a $92.00 target price on Arch Coal and gave the stock a buy rating in a research note on Tuesday, October 8th. ValuEngine upgraded Arch Coal from a sell rating to a hold rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group upgraded Arch Coal from a hold rating to a buy rating and upped their target price for the stock from $80.00 to $100.00 in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $100.80.

Shares of ARCH traded down $0.45 during mid-day trading on Tuesday, reaching $76.43. The company had a trading volume of 323,669 shares, compared to its average volume of 287,405. Arch Coal has a 52-week low of $68.63 and a 52-week high of $101.92. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $1.14 billion, a P/E ratio of 5.04 and a beta of 0.39. The stock has a 50 day moving average of $78.68 and a two-hundred day moving average of $84.07.

Arch Coal (NYSE:ARCH) last issued its earnings results on Tuesday, October 22nd. The energy company reported $6.34 EPS for the quarter, topping analysts’ consensus estimates of $3.29 by $3.05. Arch Coal had a return on equity of 39.77% and a net margin of 13.71%. The firm had revenue of $619.50 million for the quarter, compared to the consensus estimate of $571.40 million. During the same quarter in the prior year, the business earned $6.10 earnings per share. The company’s revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts expect that Arch Coal will post 16.21 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.80 dividend on an annualized basis and a yield of 2.36%. Arch Coal’s dividend payout ratio is currently 11.88%.

In other Arch Coal news, COO Paul A. Lang sold 965 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $83.47, for a total transaction of $80,548.55. Following the transaction, the chief operating officer now owns 4,302 shares in the company, valued at $359,087.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John T. Drexler sold 665 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $83.47, for a total value of $55,507.55. Following the transaction, the chief financial officer now owns 3,016 shares in the company, valued at approximately $251,745.52. The disclosure for this sale can be found here. Insiders have sold 3,130 shares of company stock worth $261,261 in the last quarter. 0.63% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of ARCH. Invesco Ltd. boosted its position in Arch Coal by 2,710.1% during the second quarter. Invesco Ltd. now owns 3,325,897 shares of the energy company’s stock worth $313,333,000 after purchasing an additional 3,207,540 shares in the last quarter. Luminus Management LLC boosted its position in Arch Coal by 1,221.7% during the second quarter. Luminus Management LLC now owns 660,439 shares of the energy company’s stock worth $62,220,000 after purchasing an additional 610,471 shares in the last quarter. Packer & Co Ltd lifted its position in shares of Arch Coal by 59.4% in the second quarter. Packer & Co Ltd now owns 963,346 shares of the energy company’s stock valued at $54,703,000 after acquiring an additional 358,846 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Arch Coal in the second quarter valued at approximately $23,482,000. Finally, LSV Asset Management lifted its position in shares of Arch Coal by 16.5% in the second quarter. LSV Asset Management now owns 564,521 shares of the energy company’s stock valued at $53,183,000 after acquiring an additional 79,899 shares in the last quarter.

About Arch Coal

Arch Coal, Inc produces and sells thermal and metallurgical coal from surface and underground mines. As of December 31, 2018, the company operated nine active mines. It also owned or controlled primarily through long-term leases approximately 28,292 acres of coal land in Ohio; 1,060 acres of coal land in Maryland; 10,195 acres of coal land in Virginia; 359,122 acres of coal land in West Virginia; 81,868 acres of coal land in Wyoming; 268,802 acres of coal land in Illinois; 33,527 acres of coal land in Kentucky; 9,840 acres of coal land in Montana; 21,802 acres of coal land in New Mexico; 358 acres of coal land in Pennsylvania; and 19,146 acres of coal land in Colorado, as well as owned or controlled through long-term leases smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.

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