B. Riley Trims Peabody Energy (NYSE:BTU) Target Price to $31.00

Peabody Energy (NYSE:BTU) had its price objective reduced by B. Riley from $32.00 to $31.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the coal producer’s stock. B. Riley also issued estimates for Peabody Energy’s Q2 2024 earnings at $0.55 EPS, Q3 2024 earnings at $0.66 EPS and Q4 2024 earnings at $0.76 EPS.

Separately, Benchmark reiterated a buy rating and issued a $28.00 target price on shares of Peabody Energy in a research note on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $28.25.

Peabody Energy Price Performance

Shares of NYSE:BTU opened at $22.05 on Friday. The stock has a market capitalization of $2.81 billion, a P/E ratio of 6.14 and a beta of 1.01. The business has a 50-day moving average of $24.14 and a two-hundred day moving average of $24.34. Peabody Energy has a fifty-two week low of $17.71 and a fifty-two week high of $27.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.70.

Peabody Energy (NYSE:BTU) last posted its earnings results on Thursday, May 2nd. The coal producer reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. Peabody Energy had a return on equity of 14.98% and a net margin of 11.62%. The firm had revenue of $983.60 million during the quarter, compared to analyst estimates of $980.03 million. During the same period in the previous year, the company earned $1.69 EPS. The company’s revenue for the quarter was down 27.9% on a year-over-year basis. On average, equities research analysts predict that Peabody Energy will post 2.45 EPS for the current fiscal year.

Peabody Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Thursday, May 16th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Wednesday, May 15th. Peabody Energy’s dividend payout ratio (DPR) is presently 8.36%.

Insider Buying and Selling at Peabody Energy

In related news, CFO Mark Spurbeck sold 6,826 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $24.57, for a total transaction of $167,714.82. Following the completion of the sale, the chief financial officer now owns 75,464 shares in the company, valued at approximately $1,854,150.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Peabody Energy news, COO Darren Ronald Yeates sold 31,980 shares of Peabody Energy stock in a transaction on Monday, February 12th. The stock was sold at an average price of $25.48, for a total value of $814,850.40. Following the completion of the transaction, the chief operating officer now owns 78,307 shares in the company, valued at approximately $1,995,262.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Spurbeck sold 6,826 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $24.57, for a total value of $167,714.82. Following the sale, the chief financial officer now owns 75,464 shares in the company, valued at approximately $1,854,150.48. The disclosure for this sale can be found here. Insiders sold a total of 52,806 shares of company stock valued at $1,339,565 in the last quarter. Corporate insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of Peabody Energy in the third quarter worth about $182,000. Raymond James & Associates lifted its holdings in Peabody Energy by 195.9% during the 3rd quarter. Raymond James & Associates now owns 130,756 shares of the coal producer’s stock worth $3,398,000 after buying an additional 86,573 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in Peabody Energy in the 3rd quarter valued at $261,000. Bank of New York Mellon Corp raised its position in shares of Peabody Energy by 7.5% during the third quarter. Bank of New York Mellon Corp now owns 787,687 shares of the coal producer’s stock worth $20,472,000 after acquiring an additional 55,131 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Peabody Energy by 16.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,427 shares of the coal producer’s stock valued at $531,000 after acquiring an additional 2,848 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Peabody Energy Company Profile

Peabody Energy Corporation engages in coal mining business in the United States, Japan, Taiwan, Australia, India, Brazil, Belgium, Chile, France, Indonesia, China, Vietnam, South Korea, Germany, and internationally. The company operates through Seaborne Thermal, Seaborne Metallurgical, Powder River Basin, Other U.S.