Zacks Investment Research Upgrades Peabody Energy (NYSE:BTU) to Hold

Peabody Energy (NYSE:BTU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday, Zacks.com reports.

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. “

Several other brokerages have also weighed in on BTU. Clarkson Capital lowered Peabody Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, May 7th. B. Riley cut their price objective on Peabody Energy from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. ValuEngine upgraded Peabody Energy from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 8th. Finally, Deutsche Bank cut shares of Peabody Energy from a “buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a research note on Friday, March 20th. Eight equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.38.

Shares of NYSE BTU opened at $2.88 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.76 and a quick ratio of 1.43. The stock has a market capitalization of $297.01 million, a price-to-earnings ratio of -0.60 and a beta of 1.52. The firm’s 50 day simple moving average is $3.38 and its 200-day simple moving average is $5.41. Peabody Energy has a 12 month low of $2.51 and a 12 month high of $24.56.

Peabody Energy (NYSE:BTU) last released its quarterly earnings results on Wednesday, April 29th. The coal producer reported ($1.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.01) by ($0.32). The firm had revenue of $846.20 million for the quarter, compared to analyst estimates of $856.98 million. Peabody Energy had a negative net margin of 11.03% and a negative return on equity of 6.69%. The firm’s quarterly revenue was down 32.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 EPS. Analysts anticipate that Peabody Energy will post -4.09 earnings per share for the current fiscal year.

In related news, COO Charles F. Meintjes sold 12,783 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $2.93, for a total transaction of $37,454.19. Following the completion of the sale, the chief operating officer now directly owns 139,714 shares of the company’s stock, valued at approximately $409,362.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of BTU. FMR LLC lifted its stake in Peabody Energy by 43.7% during the first quarter. FMR LLC now owns 533,868 shares of the coal producer’s stock worth $15,125,000 after purchasing an additional 162,404 shares in the last quarter. State Street Corp raised its holdings in shares of Peabody Energy by 54.9% in the 4th quarter. State Street Corp now owns 3,943,604 shares of the coal producer’s stock valued at $35,966,000 after buying an additional 1,398,163 shares during the period. Victory Capital Management Inc. lifted its stake in Peabody Energy by 3.2% during the 4th quarter. Victory Capital Management Inc. now owns 253,016 shares of the coal producer’s stock worth $2,308,000 after acquiring an additional 7,952 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Peabody Energy by 20.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 884,550 shares of the coal producer’s stock worth $8,068,000 after acquiring an additional 149,444 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in Peabody Energy by 54.5% during the 4th quarter. Bank of Montreal Can now owns 10,440 shares of the coal producer’s stock valued at $95,000 after acquiring an additional 3,681 shares during the period. Hedge funds and other institutional investors own 98.06% of the company’s stock.

About Peabody Energy

Peabody Energy Corp. engages in the business of coal mining. It operates through the following segments: Powder River Basin Mining, Midwestern U.S. Mining, Western U.S. Mining, Seaborne Metallurgical Mining, Seaborne Thermal Mining, and Corporate and Other. The Powder River Basin Mining segment consists of its mines in Wyoming.

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