Warrior Met Coal (NYSE:HCC) Shares Gap Down on Disappointing Earnings

Warrior Met Coal (NYSE:HCC) gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $89.85, but opened at $83.13. Warrior Met Coal shares last traded at $83.3720, with a volume of 367,809 shares.

The company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($0.03). Warrior Met Coal had a net margin of 4.35% and a return on equity of 2.71%. The firm had revenue of $458.59 million during the quarter, compared to analyst estimates of $467.54 million. During the same period in the prior year, the business earned ($0.16) EPS. The business’s revenue for the quarter was up 52.9% compared to the same quarter last year.

Warrior Met Coal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 7th. Shareholders of record on Friday, May 1st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 1st. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Warrior Met Coal’s dividend payout ratio (DPR) is currently 29.36%.

Analysts Set New Price Targets

HCC has been the topic of several recent research reports. UBS Group lifted their price target on Warrior Met Coal from $101.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, March 27th. Citigroup lifted their price target on Warrior Met Coal from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. B. Riley Financial reissued a “buy” rating on shares of Warrior Met Coal in a research note on Friday, February 13th. Jefferies Financial Group lifted their price target on Warrior Met Coal from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Finally, Wall Street Zen raised Warrior Met Coal from a “hold” rating to a “buy” rating in a research note on Sunday, February 15th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.40.

Institutional Trading of Warrior Met Coal

A number of hedge funds and other institutional investors have recently modified their holdings of HCC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Warrior Met Coal by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,860 shares of the company’s stock valued at $1,473,000 after acquiring an additional 1,351 shares during the last quarter. Intech Investment Management LLC increased its position in Warrior Met Coal by 14.6% during the first quarter. Intech Investment Management LLC now owns 34,812 shares of the company’s stock worth $1,661,000 after buying an additional 4,441 shares during the last quarter. Hsbc Holdings PLC increased its position in Warrior Met Coal by 7.7% during the second quarter. Hsbc Holdings PLC now owns 6,479 shares of the company’s stock worth $300,000 after buying an additional 464 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Warrior Met Coal by 217.2% during the second quarter. EverSource Wealth Advisors LLC now owns 682 shares of the company’s stock worth $31,000 after buying an additional 467 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Warrior Met Coal by 75.1% during the second quarter. Marshall Wace LLP now owns 10,085 shares of the company’s stock worth $462,000 after buying an additional 4,324 shares during the last quarter. Institutional investors and hedge funds own 92.28% of the company’s stock.

Warrior Met Coal Trading Down 5.4%

The business has a 50-day simple moving average of $88.04 and a two-hundred day simple moving average of $84.69. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 76.82 and a beta of 0.67. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.19 and a quick ratio of 2.27.

Warrior Met Coal Company Profile

Warrior Met Coal (NYSE: HCC) is a leading producer of premium metallurgical coal, operating deep underground mining complexes in Central Alabama’s Blue Creek and Brookwood mining districts. The company focuses exclusively on the extraction and sale of high-grade hard coking coal, a critical raw material used in steel production. Its mining operations harness longwall mining technology and rigorous safety protocols to deliver consistent coal quality to customers worldwide.

Warrior Met Coal’s product portfolio centers on premium hard coking coal, semisoft coking coal, and pulverized coal injection (PCI) products.