Walter Energy (NYSE:WLT)‘s stock had its “neutral” rating reiterated by research analysts at Goldman Sachs Group Inc. in a report released on Wednesday, American Banking and Market News reports. They currently have a $16.00 target price on the stock, down from their previous target price of $18.00. Goldman Sachs Group Inc.’s price target indicates a potential upside of 13.23% from the stock’s previous close.
The analysts wrote, “We now assume a slightly lower EV/EBITDA multiple on normalized earnings for WLT, using $175/MT met coal prices and a 7.5x EV/EBITDA (versus 7.75x previously), given the recent pullback in commodity pricing. We also remain below consensus on WLT, but stay Neutral-rated given (1) the potential for asset sales, per management commentary, (2) expectations for an improvement in met coal prices and (3) high levels of short interest.”
Walter Energy (NYSE:WLT) traded up 0.92% on Wednesday, hitting $14.26. The stock had a trading volume of 2,860,454 shares. Walter Energy has a one year low of $9.88 and a one year high of $40.65. The stock has a 50-day moving average of $16.04 and a 200-day moving average of $14.30. The company’s market cap is $892.3 million.
Walter Energy (NYSE:WLT) last announced its earnings results on Wednesday, October 30th. The company reported ($1.68) earnings per share for the quarter, missing the analysts’ consensus estimate of ($1.02) by $0.66. The company had revenue of $455.80 million for the quarter, compared to the consensus estimate of $454.80 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was down 25.5% on a year-over-year basis. On average, analysts predict that Walter Energy will post $-3.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, December 6th. Investors of record on Friday, November 8th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Wednesday, November 6th.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. downgraded shares of Walter Energy from a “buy” rating to a “neutral” rating in a research note to investors on Monday, November 18th. They now have a $19.00 price target on the stock, down previously from $20.00. Separately, analysts at RBC Capital cut their price target on shares of Walter Energy from $17.00 to $16.00 in a research note to investors on Thursday, October 31st. They now have a “sector perform” rating on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Walter Energy from $14.00 to $15.00 in a research note to investors on Thursday, October 31st. They now have a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. Walter Energy has an average rating of “Hold” and an average target price of $26.38.
Walter Energy, Inc, is a producer and exporter of metallurgical coals for the global steel industry. The Company also produces thermal coal and industrial coal, anthracite, metallurgical coke, coal bed methane gas (NYSE:WLT) and other related products.
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