Peabody Energy Co. (NYSE:BTU) – Research analysts at Seaport Global Securities dropped their Q3 2019 earnings per share (EPS) estimates for Peabody Energy in a research report issued on Tuesday, October 8th. Seaport Global Securities analyst M. Levin now expects that the coal producer will post earnings per share of ($0.40) for the quarter, down from their prior forecast of ($0.35). Seaport Global Securities also issued estimates for Peabody Energy’s Q4 2019 earnings at $0.01 EPS, FY2019 earnings at $1.14 EPS, FY2020 earnings at ($1.10) EPS and FY2021 earnings at ($1.96) EPS.
Other equities research analysts have also issued reports about the stock. Deutsche Bank reduced their price objective on shares of Peabody Energy from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. BMO Capital Markets cut their target price on shares of Peabody Energy from $25.00 to $22.00 and set a “market perform” rating on the stock in a research note on Friday, September 6th. B. Riley cut their target price on shares of Peabody Energy from $29.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. JPMorgan Chase & Co. lowered shares of Peabody Energy from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $35.00 to $30.00 in a research note on Monday, August 19th. Finally, Zacks Investment Research raised shares of Peabody Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Peabody Energy has a consensus rating of “Hold” and a consensus target price of $29.88.
Peabody Energy (NYSE:BTU) last posted its quarterly earnings data on Wednesday, July 31st. The coal producer reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.09. Peabody Energy had a net margin of 9.47% and a return on equity of 10.64%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the firm posted $0.93 EPS. The company’s quarterly revenue was down 12.2% on a year-over-year basis.
Several institutional investors have recently added to or reduced their stakes in BTU. Nuveen Asset Management LLC bought a new position in shares of Peabody Energy in the second quarter valued at $30,293,000. Renaissance Technologies LLC lifted its stake in shares of Peabody Energy by 19.8% in the second quarter. Renaissance Technologies LLC now owns 2,485,145 shares of the coal producer’s stock valued at $59,892,000 after buying an additional 411,200 shares in the last quarter. UBS Group AG lifted its stake in shares of Peabody Energy by 1,312.6% in the second quarter. UBS Group AG now owns 371,971 shares of the coal producer’s stock valued at $8,965,000 after buying an additional 345,638 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Peabody Energy by 1,037.2% in the second quarter. Bank of America Corp DE now owns 171,574 shares of the coal producer’s stock valued at $4,134,000 after buying an additional 189,881 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Peabody Energy in the second quarter valued at $3,987,000. 98.21% of the stock is currently owned by hedge funds and other institutional investors.
In related news, major shareholder International L.P. Elliott bought 15,199 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $17.41 per share, with a total value of $264,614.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have purchased 859,698 shares of company stock worth $15,724,796. 0.75% of the stock is owned by insiders.
Peabody Energy Company Profile
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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