Arch Resources (NYSE:ARCH) Issues Quarterly Earnings Results

Arch Resources (NYSE:ARCH) announced its quarterly earnings results on Thursday. The energy company reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.19, Briefing.com reports. Arch Resources had a net margin of 14.75% and a return on equity of 32.20%. The firm had revenue of $680.19 million during the quarter, compared to analysts’ expectations of $596.52 million. During the same period in the prior year, the company posted $10.02 EPS. The company’s revenue was down 21.8% on a year-over-year basis.

Arch Resources Price Performance

Shares of ARCH stock traded up $0.62 during trading hours on Friday, hitting $166.05. 144,483 shares of the company’s stock were exchanged, compared to its average volume of 468,660. The company has a current ratio of 2.49, a quick ratio of 1.83 and a debt-to-equity ratio of 0.07. Arch Resources has a 12-month low of $102.42 and a 12-month high of $187.60. The business’s 50 day simple moving average is $163.99 and its 200-day simple moving average is $163.60. The company has a market capitalization of $3.03 billion, a PE ratio of 6.84 and a beta of 0.68.

Arch Resources Cuts Dividend

The firm also recently declared a None dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend is Friday, May 31st. Arch Resources’s dividend payout ratio (DPR) is presently 4.16%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ARCH shares. StockNews.com lowered shares of Arch Resources from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. BMO Capital Markets reissued a “market perform” rating and set a $165.00 target price (down from $180.00) on shares of Arch Resources in a research note on Wednesday, April 10th. Benchmark reissued a “buy” rating and set a $180.00 target price on shares of Arch Resources in a research note on Monday. Citigroup reissued a “neutral” rating and set a $170.00 target price (down from $185.00) on shares of Arch Resources in a research note on Thursday, April 18th. Finally, B. Riley cut their target price on shares of Arch Resources from $198.00 to $193.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $177.00.

Insider Buying and Selling

In other news, Director Pamela R. Butcher bought 200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were bought at an average cost of $165.00 per share, with a total value of $33,000.00. Following the completion of the purchase, the director now directly owns 200 shares in the company, valued at $33,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Paul T. Demzik sold 4,451 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $178.40, for a total transaction of $794,058.40. Following the sale, the vice president now owns 2,192 shares in the company, valued at approximately $391,052.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Pamela R. Butcher bought 200 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were acquired at an average price of $165.00 per share, for a total transaction of $33,000.00. Following the acquisition, the director now owns 200 shares in the company, valued at approximately $33,000. The disclosure for this purchase can be found here. Insiders have sold a total of 104,335 shares of company stock valued at $19,126,100 over the last three months. 5.40% of the stock is owned by company insiders.

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.