Arch Coal (ARCH) Sets New 1-Year High at $88.50

Arch Coal Inc. (NYSE:ARCH) shares hit a new 52-week high on Tuesday . The company traded as high as $88.50 and last traded at $87.99, with a volume of 277000 shares. The stock had previously closed at $86.86.

A number of research analysts recently weighed in on ARCH shares. B. Riley reaffirmed a “buy” rating on shares of Arch Coal in a report on Wednesday, November 1st. MKM Partners reaffirmed a “buy” rating and set a $104.00 price objective on shares of Arch Coal in a report on Tuesday, September 12th. FBR & Co reaffirmed a “buy” rating on shares of Arch Coal in a report on Tuesday, October 31st. ValuEngine raised Arch Coal from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, J P Morgan Chase & Co raised Arch Coal from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $80.00 to $90.00 in a report on Thursday, August 31st. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Arch Coal presently has a consensus rating of “Buy” and a consensus price target of $93.00.

The company has a current ratio of 2.79, a quick ratio of 2.40 and a debt-to-equity ratio of 0.46.

Arch Coal (NYSE:ARCH) last posted its earnings results on Tuesday, October 31st. The energy company reported $2.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.96. The firm had revenue of $613.53 million during the quarter, compared to analyst estimates of $550.35 million. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the company posted ($1.43) EPS. sell-side analysts expect that Arch Coal Inc. will post 9.62 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Wednesday, November 29th.

In other news, Director James N. Chapman sold 1,002 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $80.99, for a total value of $81,151.98. Following the sale, the director now directly owns 2,226 shares in the company, valued at $180,283.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Monarch Alternative Capital Lp sold 500,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $85.26, for a total value of $42,630,000.00. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of Arch Coal by 2.8% in the second quarter. Principal Financial Group Inc. now owns 10,556 shares of the energy company’s stock valued at $721,000 after acquiring an additional 287 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Arch Coal by 3.3% in the first quarter. Bank of America Corp DE now owns 11,478 shares of the energy company’s stock valued at $792,000 after acquiring an additional 370 shares in the last quarter. Fiduciary Trust Co. lifted its position in shares of Arch Coal by 26.0% in the third quarter. Fiduciary Trust Co. now owns 3,996 shares of the energy company’s stock valued at $287,000 after acquiring an additional 825 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Arch Coal by 140.6% in the second quarter. Royal Bank of Canada now owns 1,655 shares of the energy company’s stock valued at $113,000 after acquiring an additional 967 shares in the last quarter. Finally, American International Group Inc. lifted its position in shares of Arch Coal by 8.1% in the third quarter. American International Group Inc. now owns 14,697 shares of the energy company’s stock valued at $1,054,000 after acquiring an additional 1,098 shares in the last quarter. Institutional investors and hedge funds own 37.04% of the company’s stock.

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Arch Coal Company Profile

Arch Coal, Inc is a coal producer. The Company is engaged in the production of thermal and metallurgical coal from surface and underground mines located throughout the United States, for sale to utility, industrial and steel producers both in the United States and around the world. The Company operates mining complexes in West Virginia, Kentucky, Maryland, Virginia, Illinois, Wyoming and Colorado.

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