CRT Capital Cuts Patriot Coal Corp to Fair Value (PCX)

By admin | 6 years ago

Patriot Coal Corp (NYSE: PCX) was downgraded by equities researchers at CRT Capital from a “buy” rating to a “fair value” rating in a report issued on Wednesday.

Shares of Patriot Coal Corp traded down 5.46% during mid-day trading on Wednesday, hitting $2.25. Patriot Coal Corp has a 52 week low of $5.42 and a 52 week high of $27.12. The company’s market cap is $206.7 million.

Patriot Coal Corp last issued its quarterly earnings data on Tuesday, May 8th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by $0.42. The company’s revenue for the quarter was down 12.9% on a year-over-year basis. On average, analysts predict that Patriot Coal Corp will post $-0.54 earnings per share next quarter.

PCX has been the subject of a number of other recent research reports. Analysts at Sterne Agee reiterated a “neutral” rating on shares of Patriot Coal Corp in a research note to investors on Wednesday, May 23rd. They now have a $9.50 price target on the stock. Separately, analysts at Deutsche Bank (NYSE: DB) downgraded shares of Patriot Coal Corp from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, May 23rd. Finally, analysts at Nomura (NYSE: NMR) reiterated a “reduce” rating on shares of Patriot Coal Corp in a research note to investors on Wednesday, May 16th.

Patriot Coal Corporation (Patriot) is a producer of thermal coal in the eastern United States, with operations and coal reserves in the Appalachia and the Illinois Basin coal regions.

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