Arch Resources (NYSE:ARCH) Releases Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Arch Resources (NYSE:ARCH) announced its quarterly earnings data on Thursday. The energy company reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.19, Briefing.com reports. The business had revenue of $680.19 million for the quarter, compared to analyst estimates of $596.52 million. Arch Resources had a net margin of 10.89% and a return on equity of 22.32%. The company’s revenue was down 21.8% on a year-over-year basis. During the same period in the prior year, the firm posted $10.02 EPS.

Arch Resources Stock Performance

Shares of ARCH traded down $1.01 during mid-day trading on Friday, hitting $164.42. The company’s stock had a trading volume of 368,946 shares, compared to its average volume of 350,544. Arch Resources has a one year low of $102.42 and a one year high of $187.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.83 and a current ratio of 2.64. The firm has a market capitalization of $3.00 billion, a PE ratio of 9.67 and a beta of 0.68. The stock’s 50-day moving average is $164.08 and its two-hundred day moving average is $163.64.

Arch Resources Cuts Dividend

The firm also recently disclosed a None dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a $1.11 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a dividend yield of 0.6%. Arch Resources’s dividend payout ratio is 5.88%.

Analyst Upgrades and Downgrades

ARCH has been the subject of several recent research reports. Benchmark reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Arch Resources in a research report on Monday, April 22nd. StockNews.com cut Arch Resources from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. BMO Capital Markets restated a “market perform” rating and set a $165.00 price objective (down from $180.00) on shares of Arch Resources in a research note on Wednesday, April 10th. Citigroup reaffirmed a “neutral” rating and set a $170.00 target price (down from $185.00) on shares of Arch Resources in a report on Thursday, April 18th. Finally, B. Riley dropped their price target on 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $177.00.

Insider Activity

In related news, Chairman John W. Eaves sold 72,946 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.03, for a total value of $13,497,198.38. Following the completion of the transaction, the chairman now directly owns 136,725 shares in the company, valued at $25,298,226.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arch Resources news, Chairman John W. Eaves sold 72,946 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.03, for a total transaction of $13,497,198.38. Following the completion of the transaction, the chairman now directly owns 136,725 shares in the company, valued at $25,298,226.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John A. Ziegler sold 148 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $172.33, for a total value of $25,504.84. Following the completion of the sale, the vice president now owns 23,232 shares of the company’s stock, valued at $4,003,570.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,335 shares of company stock valued at $19,126,100. 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.