Arch Resources (NYSE:ARCH) Announces Quarterly Earnings Results

Arch Resources (NYSE:ARCH) announced its quarterly earnings results on Tuesday. The energy company reported ($0.34) EPS for the quarter, missing the consensus estimate of $1.83 by ($2.17), RTT News reports. The company had revenue of $617.90 million during 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 firm’s revenue for the quarter was down 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.91 EPS.

Arch Resources Stock Performance

Shares of NYSE:ARCH traded up $0.67 during midday trading on Friday, reaching $169.07. The company’s stock had a trading volume of 222,225 shares, compared to its average volume of 401,657. The firm has a market capitalization of $3.06 billion, a PE ratio of 12.23 and a beta of 0.59. Arch Resources has a twelve month low of $116.44 and a twelve month high of $187.60. The stock has a fifty day moving average of $137.49 and a 200 day moving average of $147.44. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.07.

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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.59%. Arch Resources’s payout ratio is 7.26%.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com began coverage on shares of Arch Resources in a research note on Sunday, November 3rd. They issued a “hold” rating on the stock. Benchmark restated a “buy” rating and issued a $180.00 target price on shares of Arch Resources in a report on Friday, July 26th. Finally, B. Riley reduced their target price on shares of Arch Resources from $198.00 to $188.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $175.75.

Insider Transactions at Arch Resources

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

Institutional Trading of Arch Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARCH. State of Alaska Department of Revenue purchased a new position in Arch Resources during the first quarter valued at $1,799,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Arch Resources in the first quarter valued at approximately $9,397,000. Janney Montgomery Scott LLC lifted its stake in Arch Resources by 94.0% in the first quarter. Janney Montgomery Scott LLC now owns 13,986 shares of the energy company’s stock worth $2,249,000 after acquiring an additional 6,778 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in Arch Resources in the first quarter worth approximately $509,000. Finally, Texas Permanent School Fund Corp purchased a new position in Arch Resources in the first quarter worth approximately $2,585,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

About Arch Resources

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.