Several other research firms have also weighed in on WLB. Zacks Investment Research lowered shares of Westmoreland Coal from a buy rating to a hold rating in a research report on Wednesday, July 13th. BMO Capital Markets reiterated a buy rating and set a $8.00 target price on shares of Westmoreland Coal in a research report on Wednesday, August 3rd.
Shares of Westmoreland Coal (NASDAQ:WLB) traded down 0.44% during mid-day trading on Thursday, reaching $9.11. 20,772 shares of the company’s stock traded hands. The stock’s market cap is $169.16 million. Westmoreland Coal has a 12 month low of $3.44 and a 12 month high of $14.50. The firm has a 50 day moving average price of $8.69 and a 200-day moving average price of $8.45.
Westmoreland Coal (NASDAQ:WLB) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($1.37) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by $1.11. The company had revenue of $356.20 million for the quarter, compared to the consensus estimate of $352.90 million. Westmoreland Coal’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts predict that Westmoreland Coal will post $1.66 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the company. BlackRock Fund Advisors raised its position in Westmoreland Coal by 3.9% in the second quarter. BlackRock Fund Advisors now owns 475,106 shares of the company’s stock worth $4,523,000 after buying an additional 17,930 shares during the period. BlackRock Investment Management LLC raised its position in Westmoreland Coal by 9.4% in the second quarter. BlackRock Investment Management LLC now owns 76,878 shares of the company’s stock worth $732,000 after buying an additional 6,606 shares during the period. Acrospire Investment Management LLC purchased a new position in Westmoreland Coal during the second quarter worth approximately $204,000. GSA Capital Partners LLP purchased a new position in Westmoreland Coal during the second quarter worth approximately $370,000. Finally, State Board of Administration of Florida Retirement System raised its position in Westmoreland Coal by 4.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 18,103 shares of the company’s stock worth $172,000 after buying an additional 806 shares during the period. Hedge funds and other institutional investors own 66.74% of the company’s stock.
Westmoreland Coal Company Profile
Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal – U.S., Coal – Canada, Coal – Westmoreland Resource Partners, LP (WMLP), Power, Heritage and Corporate. Coal – U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico.
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