Coal news and updates

Arch Coal Bond Prices Fall 1.8% (ACI)

An issue of Arch Coal (NYSE:ACI) bonds fell 1.8% against their face value during trading on Monday, Marketbeat reports. The high-yield issue of debt has a 7.25% coupon and will mature on October 1, 2020. The bonds in the issue are now trading at $28.00 and were trading at $32.75 last week. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its stock price.

A number of research firms have recently commented on ACI. Analysts at Zacks downgraded shares of Arch Coal from a “hold” rating to a “sell” rating in a research note on Monday. Analysts at Goldman Sachs initiated coverage on shares of Arch Coal in a research note on Monday, June 1st. They set a “neutral” rating and a $0.70 price target on the stock. Finally, analysts at Credit Suisse initiated coverage on shares of Arch Coal in a research note on Tuesday, May 26th. They set an “underperform” rating on the stock. Nine equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Sell” and a consensus target price of $2.36.

Shares of Arch Coal (NYSE:ACI) traded up 9.7462% on Monday, hitting $0.2984. The stock had a trading volume of 7,626,267 shares. Arch Coal has a one year low of $0.26 and a one year high of $3.36. The stock’s 50-day moving average is $0.43 and its 200-day moving average is $0.94. The company’s market cap is $63.46 million.

Arch Coal (NYSE:ACI) last announced its earnings results on Tuesday, April 21st. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by $0.06. The company had revenue of $677.00 million for the quarter, compared to the consensus estimate of $731.82 million. During the same quarter in the previous year, the company posted ($0.60) earnings per share. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, analysts predict that Arch Coal will post $-2.1400 earnings per share for the current fiscal year.

Arch Coal, Inc. is a coal producer, which sells all of its coal to power plants, steel mills and industrial facilities. 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. It operates mining complexes in West Virginia, Kentucky, Maryland, Virginia, Illinois, Wyoming and Colorado. The Company’s segments include the Powder River Basin segment, with operations in Wyoming, and the Appalachia segment, with operations in West Virginia, Kentucky, Maryland and Virginia. The Company also sells coal from operations in Colorado and Illinois. Powder River Basin consists of Black Thunder and Coal Creek mines. The Company’s mines in Appalachia include Coal-Mac, Lone Mountain, Mountain Laurel, Beckley, Vindex, Sycamore No. 2, Sentinel and Leer.

source: http://www.dakotafinancialnews.com