In a report released today, Lucas Pipes from B.Riley FBR maintained a Buy rating on Contura Energy Inc (CTRA), with a price target of $92. The company’s shares closed on Friday at $59.01.
Pipes wrote:
“We are tweaking our estimates for Contura Energy (CTRA) in anticipation of the company’s 1Q19 earnings release which is expected to be published in the coming weeks. In 1Q19, we have lowered our estimate for CAPP volumes from 4.35M tons to 4.0M tons, as well as increased our cost estimate from $72.97/ton to $77.50/ton. Overall, these changes have decreased our EBITDA estimate in the first quarter from $155.3M to $117.6M. For FY19, we now estimate CTRA to generate $525M in EBITDA (from $548M) with the decrease driven by higher overall costs in the CAPP segment. We reiterate our Buy Rating and PT of $92.”
According to TipRanks.com, Pipes is a 3-star analyst with an average return of 1.3% and a 49.1% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Peabody Energy Corporation Comm, Covia Holdings Corporation, and CONSOL Coal Resources LP.
Currently, the analyst consensus on Contura Energy Inc is a Moderate Buy with an average price target of $85, representing a 44.0% upside. In a report issued on May 3, Seaport Global also initiated coverage with a Buy rating on the stock with a $78 price target.
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Contura Energy Inc’s market cap is currently $1.13B and has a P/E ratio of 2.49. The company has a Price to Book ratio of 1.05.
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Contura Energy, Inc. engages in providing met and thermal coal. It operates through the following business segments: Central Appalachia Operations (CAPP), Northern Appalachia Operations (NAPP), Trading and Logistics; and All Other.
