Brokerages Anticipate Westmoreland Coal Company (WLB) Will Post Earnings of -$0.39 Per Share
Wall Street brokerages forecast that Westmoreland Coal Company (NASDAQ:WLB) will announce earnings of ($0.39) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Westmoreland Coal’s earnings. The lowest EPS estimate is ($0.65) and the highest is ($0.13). Westmoreland Coal reported earnings per share of ($0.46) in the same quarter last year, which would suggest a positive year over year growth rate of 15.2%. The business is expected to issue its next earnings report on Tuesday, November 7th.
On average, analysts expect that Westmoreland Coal will report full-year earnings of ($4.58) per share for the current fiscal year, with EPS estimates ranging from ($5.18) to ($3.97). For the next year, analysts expect that the company will post earnings of ($3.18) per share, with EPS estimates ranging from ($5.00) to ($1.36). Zacks’ EPS averages are a mean average based on a survey of analysts that cover Westmoreland Coal.
Westmoreland Coal (NASDAQ:WLB) last issued its earnings results on Thursday, August 3rd. The coal producer reported ($2.69) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.58) by ($1.11). The business had revenue of $323.03 million during the quarter, compared to the consensus estimate of $320.85 million.
Several brokerages recently issued reports on WLB. FBR & Co reaffirmed a “buy” rating and set a $7.00 price objective on shares of Westmoreland Coal in a report on Friday, September 1st. Zacks Investment Research cut Westmoreland Coal from a “hold” rating to a “strong sell” rating in a report on Thursday, August 24th. Finally, BMO Capital Markets cut Westmoreland Coal from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $18.00 to $5.00 in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $10.67.
Institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. increased its position in Westmoreland Coal by 7.1% during the first quarter. American International Group Inc. now owns 11,341 shares of the coal producer’s stock worth $165,000 after buying an additional 751 shares in the last quarter. OppenheimerFunds Inc. increased its position in Westmoreland Coal by 4.3% during the first quarter. OppenheimerFunds Inc. now owns 13,899 shares of the coal producer’s stock worth $202,000 after buying an additional 579 shares in the last quarter. Tudor Investment Corp ET AL increased its position in Westmoreland Coal by 15.3% during the first quarter. Tudor Investment Corp ET AL now owns 14,254 shares of the coal producer’s stock worth $207,000 after buying an additional 1,892 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Westmoreland Coal by 16.2% during the first quarter. Public Employees Retirement System of Ohio now owns 14,319 shares of the coal producer’s stock worth $208,000 after buying an additional 1,998 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Westmoreland Coal during the first quarter worth $228,000. 78.24% of the stock is owned by institutional investors.
Shares of Westmoreland Coal (WLB) traded down 2.56% during mid-day trading on Monday, reaching $2.66. The company’s stock had a trading volume of 143,307 shares. The firm’s market capitalization is $49.85 million. The company’s 50-day moving average is $2.35 and its 200 day moving average is $6.47. Westmoreland Coal has a 1-year low of $1.88 and a 1-year high of $19.92.
About Westmoreland Coal
Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal-U.S., Coal-Canada, Coal-(WMLP), Power, Heritage and Corporate. The Coal-U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico. The Coal-Canada segment includes the operations of coal mines located in Alberta and Saskatchewan.
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