Zacks Investment Research upgraded shares of Arch Coal, Inc. Class A (NYSE:ARCH) from a hold rating to a strong-buy rating in a research report released on Friday, February 16th. They currently have $108.00 price target on the energy company’s stock.
According to Zacks, “Arch Coal, Inc. is a natural resource company. It produces metallurgical and thermal coal, used to manufacture steel and generate electricity. The company operates primarily in Alabama, Indiana, Washington, Arkansas, California, Utah and Texas. Arch Coal, Inc. is headquartered in St. Louis, Missouri. “
Several other equities research analysts have also commented on ARCH. Jefferies Group reissued a buy rating on shares of Arch Coal, Inc. Class A in a research note on Thursday, October 19th. FBR & Co reissued a buy rating on shares of Arch Coal, Inc. Class A in a research note on Tuesday, October 31st. B. Riley reissued a buy rating on shares of Arch Coal, Inc. Class A in a research note on Wednesday, November 1st. ValuEngine raised Arch Coal, Inc. Class A from a hold rating to a buy rating in a research note on Friday, December 1st. Finally, Stifel Nicolaus set a $109.00 price target on Arch Coal, Inc. Class A and gave the stock a buy rating in a research note on Tuesday, January 16th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $101.25.
Arch Coal, Inc. Class A (NYSE:ARCH) last announced its quarterly earnings results on Tuesday, February 13th. The energy company reported $4.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.32 by $1.80. The firm had revenue of $560.20 million for the quarter, compared to analysts’ expectations of $574.83 million. Arch Coal, Inc. Class A’s revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $1.65 EPS. analysts expect that Arch Coal, Inc. Class A will post 11.95 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Monday, March 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 1.70%. This is a positive change from Arch Coal, Inc. Class A’s previous quarterly dividend of $0.35.
A number of hedge funds have recently bought and sold shares of ARCH. Royal Bank of Canada lifted its stake in Arch Coal, Inc. Class A by 140.6% in the 2nd quarter. Royal Bank of Canada now owns 1,655 shares of the energy company’s stock valued at $113,000 after buying an additional 967 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Arch Coal, Inc. Class A in the 2nd quarter valued at approximately $131,000. Envestnet Asset Management Inc. lifted its stake in Arch Coal, Inc. Class A by 100.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,449 shares of the energy company’s stock valued at $135,000 after buying an additional 725 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in Arch Coal, Inc. Class A in the 3rd quarter valued at approximately $136,000. Finally, Meeder Asset Management Inc. purchased a new stake in Arch Coal, Inc. Class A in the 3rd quarter valued at approximately $155,000. 86.07% of the stock is currently owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY WARNING: This piece of content was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright laws. The legal version of this piece of content can be read at https://stocknewstimes.com/2018/03/14/arch-coal-inc-class-a-arch-upgraded-to-strong-buy-at-zacks-investment-research.html.
Arch Coal, Inc. Class A Company Profile
Arch Coal, Inc is a coal producer. The Company is engaged in the production of thermal and metallurgical coal from surface and underground mines located throughout the United States, for sale to utility, industrial and steel producers both in the United States and around the world. The Company operates mining complexes in West Virginia, Kentucky, Maryland, Virginia, Illinois, Wyoming and Colorado.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Arch Coal Inc. Class A Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arch Coal Inc. Class A and related companies with MarketBeat.com's FREE daily email newsletter.