FY2024 EPS Estimates for Arch Resources Cut by B. Riley

Arch Resources, Inc. (NYSE:ARCH) – B. Riley lowered their FY2024 EPS estimates for shares of Arch Resources in a research note issued on Wednesday, November 6th. B. Riley analyst L. Pipes now expects that the energy company will earn $5.19 per share for the year, down from their prior estimate of $7.12. B. Riley has a “Buy” rating and a $188.00 price objective on the stock. The consensus estimate for Arch Resources’ current full-year earnings is $7.84 per share. B. Riley also issued estimates for Arch Resources’ Q4 2024 earnings at $0.93 EPS.

Arch Resources (NYSE:ARCH) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($2.17). The company had revenue of $617.90 million for the quarter, compared to analysts’ expectations of $587.71 million. Arch Resources had a return on equity of 17.91% and a net margin of 9.24%. The business’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.91 EPS.

Several other equities analysts have also weighed in on ARCH. Benchmark reiterated a “buy” rating and issued a $180.00 target price on shares of Arch Resources in a report on Friday, July 26th. StockNews.com began coverage on Arch Resources in a research report on Sunday, November 3rd. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arch Resources presently has a consensus rating of “Hold” and a consensus target price of $175.75.

Arch Resources Trading Up 1.3 %

Shares of ARCH opened at $168.40 on Friday. Arch Resources has a 12-month low of $116.44 and a 12-month high of $187.60. The firm has a market capitalization of $3.04 billion, a P/E ratio of 12.23 and a beta of 0.59. The firm has a 50-day moving average price of $137.49 and a 200 day moving average price of $147.44. The company has a current ratio of 2.54, a quick ratio of 1.77 and a debt-to-equity ratio of 0.07.

Institutional Trading of Arch Resources

Hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its stake in Arch Resources by 94.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,986 shares of the energy company’s stock worth $2,249,000 after buying an additional 6,778 shares during the period. Natixis purchased a new stake in shares of Arch Resources during the first quarter worth $2,892,000. Comerica Bank raised its stake in shares of Arch Resources by 29.6% in the first quarter. Comerica Bank now owns 22,551 shares of the energy company’s stock valued at $3,626,000 after acquiring an additional 5,153 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in Arch Resources in the second quarter valued at $8,700,000. Finally, Virtu Financial LLC acquired a new position in Arch Resources during the 1st quarter worth $604,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

Insider Buying and Selling at Arch Resources

In other news, VP Deck Slone sold 253 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $144.75, for a total transaction of $36,621.75. Following the completion of the transaction, the vice president now directly owns 29,120 shares in the company, valued at $4,215,120. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.90% of the company’s stock.

Arch Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, November 15th. Arch Resources’s dividend payout ratio is presently 7.26%.

Arch Resources Company Profile

Arch Resources, Inc engages in the production and sale of metallurgical products. It operates in two segments, Metallurgical and Thermal. The company operates active mines. It owned or controlled primarily through long-term leases of coal land in Ohio, Maryland, Virginia, West Virginia, Wyoming, Kentucky, Montana, Pennsylvania, Colorado, and Illinois; and smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.