In a report released today, Lucas Pipes from B.Riley FBR maintained a Buy rating on Peabody Energy Corporation Comm (BTU), with a price target of $27. The company’s shares closed last Monday at $16.56, close to its 52-week low of $16.41.
Pipes wrote:
“the open, Peabody Energy (BTU) guided to a materially weaker 3Q compared to 2Q while maintaining full-year guidance targets with minor calibrations. With this note, we are updating our estimates for Peabody and provide some additional context on the 3Q warning. In our opinion, the announcement does not materially change the long- term outlook for BTU and is more a reflection of the new pricing environment, which we believe is already priced into the stock. We maintain our Buy rating with a slightly lower price target from $29 to $27.”
According to TipRanks.com, Pipes is ranked 0 out of 5 stars with an average return of -4.9% and a 41.6% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Novagold Resources Inc New, Covia Holdings Corporation, and CONSOL Coal Resources LP.
Peabody Energy Corporation Comm has an analyst consensus of Moderate Buy, with a price target consensus of $27.
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Peabody Energy Corporation Comm’s market cap is currently $1.93B and has a P/E ratio of 4.39. The company has a Price to Book ratio of 0.62.
Based on the recent corporate insider activity of 88 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BTU in relation to earlier this year.
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Peabody Energy Corp. engages in the business of coal mining. It operates through the following segments: Powder River Basin Mining, Midwestern U.S. Mining, Western U.S. Mining, Seaborne Metallurgical Mining, Seaborne Thermal Mining, and Corporate and Other. The Powder River Basin Mining segment consists of its mines in Wyoming.
