Nomura Reiterates Reduce on Arch Coal (ACI)
Shares of Arch Coal traded down 2.71% during mid-day trading on Wednesday, hitting $8.27. Arch Coal has a one year low of $8.42 and a one year high of $31.99. The company has a market cap of $1.751 billion and a P/E ratio of 11.49.
The company last announced its quarterly results on Tuesday, May 1st. It reported ($0.04) earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.22 EPS by $0.26. The company’s quarterly revenue was up 19.1% on a year-over-year basis. On average, analysts predict that Arch Coal will post $0.00 earnings per share next quarter.
Several other analysts have also recently commented on the stock. Analysts at Barclays Capital (NYSE: BCS) cut their price target on shares of Arch Coal from $15.00 to $10.00 in a research note to investors on Wednesday. They now have an “equal weight” rating on the stock. Separately, analysts at Deutsche Bank (NYSE: DB) cut their price target on shares of Arch Coal from $19.00 to $15.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Howard Weil downgraded shares of Arch Coal from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday. They now have a $15.00 price target on the stock, down previously from $22.00.
Arch Coal, Inc. (Arch) is a coal producer company. During the year ended December 31, 2010, the Company sold 162.