Peabody Energy (NYSE:BTU) Shares Down 5.1% - Here's What Happened

Key Points

• Peabody Energy shares fell 5.1% to approximately $27.93, with trading volume down 84% from its average.
• Recent analyst actions were mixed but generally cautious: the consensus rating is “Hold”, with an average price target of $33.88. Zacks downgraded the stock to “strong sell,” while B. Riley, Benchmark and UBS lowered their price targets.
• Peabody reported a quarterly loss of $0.74 per share, missing estimates by $0.36, despite revenue rising 12.7% year over year to about $1 billion. The company also declared a quarterly dividend of $0.075 per share, yielding roughly 1.1% annually.

Shares of Peabody Energy Corporation (NYSE:BTU - Get Free Report) fell 5.1% on Thursday . The company traded as low as $27.86 and last traded at $27.9340. Approximately 502,402 shares changed hands during trading, a decline of 84% from the average daily volume of 3,136,952 shares. The stock had previously closed at $29.43.

Analyst Ratings Changes

A number of brokerages recently weighed in on BTU. Zacks Research lowered shares of Peabody Energy from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Weiss Ratings cut Peabody Energy from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, June 23rd. B. Riley Financial lowered their target price on Peabody Energy from $30.00 to $29.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Benchmark dropped their price objective on shares of Peabody Energy from $40.00 to $36.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Finally, UBS Group cut their price target on Peabody Energy from $27.00 to $26.50 and set a "neutral" rating for the company in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $33.88.

Peabody Energy Trading Down 5.1%

The firm has a market cap of $3.40 billion, a P/E ratio of -18.62 and a beta of 0.34. The stock has a 50 day simple moving average of $24.35 and a 200-day simple moving average of $27.79. The company has a current ratio of 2.01, a quick ratio of 1.46 and a debt-to-equity ratio of 0.10.

Peabody Energy (NYSE:BTU - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The coal producer reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.36). Peabody Energy had a negative net margin of 4.56% and a negative return on equity of 5.22%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the business earned ($0.23) EPS. Peabody Energy's revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities research analysts expect that Peabody Energy Corporation will post 0.33 EPS for the current fiscal year.

Peabody Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Wednesday, August 12th will be given a $0.075 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $0.30 dividend on an annualized basis and a yield of 1.1%. Peabody Energy's dividend payout ratio (DPR) is currently -20.00%.

Hedge Funds Weigh In On Peabody Energy

Several hedge funds have recently added to or reduced their stakes in BTU. Maryland State Retirement & Pension System increased its stake in Peabody Energy by 2.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 17,838 shares of the coal producer's stock worth $530,000 after purchasing an additional 357 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Peabody Energy by 1.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 27,849 shares of the coal producer's stock worth $827,000 after buying an additional 500 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Peabody Energy by 5.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,078 shares of the coal producer's stock worth $329,000 after purchasing an additional 588 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Peabody Energy by 24.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,103 shares of the coal producer's stock valued at $93,000 after buying an additional 616 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in Peabody Energy by 2.8% during the fourth quarter. Corient Private Wealth LLC now owns 24,328 shares of the coal producer's stock valued at $723,000 after acquiring an additional 668 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

Peabody Energy Company Profile

Peabody Energy Corporation is one of the world's largest private-sector coal companies, engaged primarily in the production and sale of metallurgical and thermal coal. The company's operations span surface and underground mines, serving utilities, steel mills and other industrial customers that rely on coal as an essential component in power generation and steelmaking. Peabody's product portfolio includes high-energy thermal coal for electricity generation and low-volatile metallurgical coal used in steel production, reflecting its diverse end-market reach.

Founded in 1883, Peabody Energy has grown from a regional mining concern into a global energy supplier.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source