Zacks Investment Research downgraded shares of Warrior Met Coal Inc. (NYSE:HCC) from a strong-buy rating to a hold rating in a report issued on Wednesday morning.
According to Zacks, “Warrior Met Coal, Inc. is a producer and exporter of premium metallurgical coal. It operates primarily in Alabama. Warrior Met Coal, Inc. is based in Brookwood, United States. “
Several other equities analysts have also issued reports on HCC. FBR & Co boosted their price target on Warrior Met Coal from $20.00 to $21.00 and gave the company a mkt perform rating in a research note on Friday, July 21st. Royal Bank Of Canada boosted their price target on Warrior Met Coal from $24.00 to $27.00 and gave the company an outperform rating in a research note on Friday, August 4th. MKM Partners reissued a neutral rating and issued a $21.00 price target (up from $18.00) on shares of Warrior Met Coal in a research note on Thursday, August 24th. Macquarie initiated coverage on Warrior Met Coal in a research note on Thursday, September 7th. They issued an underperform rating and a $24.00 price target on the stock. Finally, Citigroup Inc. boosted their price target on Warrior Met Coal from $24.00 to $28.00 and gave the company a neutral rating in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $25.92.
Warrior Met Coal (NYSE:HCC) last issued its quarterly earnings results on Thursday, November 9th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.26 by $0.01. Warrior Met Coal had a return on equity of 51.58% and a net margin of 36.20%. The firm had revenue of $312.00 million for the quarter, compared to analyst estimates of $301.89 million. Warrior Met Coal’s revenue for the quarter was up 489.8% on a year-over-year basis. equities research analysts anticipate that Warrior Met Coal will post 7.39 EPS for the current year.
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The company also recently disclosed a special dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, November 13th will be issued a dividend of $11.21 per share. This is an increase from Warrior Met Coal’s previous special dividend of $0.05. The ex-dividend date is Friday, November 24th. This represents a dividend yield of 0.75%. Warrior Met Coal’s payout ratio is currently 2.70%.
In other news, Director Stephen D. Williams sold 18,742 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $28.00, for a total transaction of $524,776.00. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at $560,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.15% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HCC. Apollo Management Holdings L.P. bought a new stake in Warrior Met Coal during the second quarter worth $173,185,000. Franklin Resources Inc. bought a new stake in Warrior Met Coal during the second quarter worth $82,178,000. Caspian Capital LP bought a new stake in Warrior Met Coal during the second quarter worth $37,651,000. Capital World Investors bought a new stake in Warrior Met Coal during the second quarter worth $25,953,000. Finally, Impala Asset Management LLC grew its holdings in Warrior Met Coal by 5.7% during the third quarter. Impala Asset Management LLC now owns 1,332,687 shares of the company’s stock worth $31,411,000 after buying an additional 72,327 shares in the last quarter. Hedge funds and other institutional investors own 97.77% of the company’s stock.
Warrior Met Coal Company Profile
Warrior Met Coal, Inc, formerly Warrior Met Coal, LLC, is a producer and exporter of metallurgical coal for the steel industry from underground mines located in Brookwood, Alabama, southwest of Birmingham and near Tuscaloosa. These underground coalmines are 1,400 to 2,100 feet underground. Its operations serve markets in the United States, Europe, Asia and South America via barge and rail access to the Port of Mobile.
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