Westmoreland Coal Company Rating Increased to Hold at Zacks (WLB)
Westmoreland Coal Company (NYSE:WLB) was upgraded byZacks from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Westmoreland Coal Company’s principal activities are: the production and sale of coal from the Powder River Basin in eastern Montana; the ownership of interests in cogeneration and other non-regulated independent power plants; and the leasing of capacity at Dominion Terminal Associates, a coal storage and vessel loading facility. “
Shares of Westmoreland Coal Company (NYSE:WLB) traded down 1.35% during mid-day trading on Tuesday, hitting $27.06. 120,801 shares of the company’s stock traded hands. Westmoreland Coal Company has a 52-week low of $23.13 and a 52-week high of $45.19. The stock has a50-day moving average of $27. and a 200-day moving average of $29.. The company’s market cap is $484.59 million.
Westmoreland Coal Company (NYSE:WLB) last announced its earnings results on Friday, April 24th. The company reported ($0.67) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.37) by $0.30. The company had revenue of $371.50 million for the quarter, compared to the consensus estimate of $333.55 million. On average, analysts predict that Westmoreland Coal Company will post $-2.21 earnings per share for the current fiscal year.
WLB has been the subject of a number of other recent research reports. Analysts at BB&T Corp. initiated coverage on shares of Westmoreland Coal Company in a research note on Friday, April 17th. They set a “buy” rating and a $40.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Brean Capital lowered their price target on shares of Westmoreland Coal Company from $51.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, March 24th.
Westmoreland Coal Company (NYSE:WLB), is an energy company. The Company’s operations include six surface coal mines in Montana, Wyoming, North Dakota and Texas, and two coal-fired power-generating units in North Carolina. The Company operates in two segments: coal and power segments.