Equities researchers at Howard Weil cut their target price on shares of Patriot Coal Corp (NYSE: PCX) from $10.00 to $6.00 in a report issued on Wednesday. The firm currently has a “market perform” rating on the stock.
Shares of Patriot Coal Corp opened at 1.84 on Wednesday. Patriot Coal Corp has a 52 week low of $1.36 and a 52 week high of $24.99. The company’s market cap is $169.0 million.
Patriot Coal Corp last announced its earnings results 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 $-0.55 earnings per share next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG (NYSE: UBS) reiterated a “neutral” rating on shares of Patriot Coal Corp in a research note to investors on Wednesday, May 30th. Separately, analysts at CRT Capital downgraded shares of Patriot Coal Corp from a “buy” rating to a “fair value” rating in a research note to investors on Wednesday, May 30th. Finally, 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.
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.