Shares of Arch Resources, Inc. (NYSE:ARCH – Get Free Report) gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $120.66, but opened at $112.00. Arch Resources shares last traded at $113.03, with a volume of 155,611 shares traded.
The energy company reported $4.04 earnings per share for the quarter, missing analysts’ consensus estimates of $5.82 by ($1.78). Arch Resources had a return on equity of 96.62% and a net margin of 33.74%. The business had revenue of $757.29 million for the quarter, compared to analysts’ expectations of $670.17 million. During the same quarter in the prior year, the company posted $19.30 earnings per share. The business’s revenue for the quarter was down 33.2% compared to the same quarter last year.
Arch Resources Increases Dividend
The company also recently announced a None dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $3.97 per share. This is a positive change from Arch Resources’s previous None dividend of $2.45. The ex-dividend date of this dividend is Wednesday, August 30th. Arch Resources’s dividend payout ratio is presently 1.63%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on ARCH shares. StockNews.com started coverage on Arch Resources in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. B. Riley reduced their price target on Arch Resources from $198.00 to $195.00 in a research report on Monday, June 26th.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. grew its stake in Arch Resources by 2.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,371 shares of the energy company’s stock worth $325,000 after buying an additional 67 shares during the last quarter. Stratos Wealth Advisors LLC grew its stake in Arch Resources by 1.7% during the 2nd quarter. Stratos Wealth Advisors LLC now owns 5,715 shares of the energy company’s stock worth $644,000 after buying an additional 97 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Arch Resources by 6.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,379 shares of the energy company’s stock worth $313,000 after buying an additional 137 shares during the last quarter. Captrust Financial Advisors grew its stake in Arch Resources by 113.8% during the 2nd quarter. Captrust Financial Advisors now owns 295 shares of the energy company’s stock worth $42,000 after buying an additional 157 shares during the last quarter. Finally, Ronald Blue Trust Inc. grew its stake in shares of Arch Resources by 57.8% in the 1st quarter. Ronald Blue Trust Inc. now owns 434 shares of the energy company’s stock valued at $62,000 after purchasing an additional 159 shares during the last quarter. Hedge funds and other institutional investors own 82.18% of the company’s stock.
Arch Resources Stock Up 1.6 %
The firm has a 50 day simple moving average of $113.46 and a two-hundred day simple moving average of $129.85. The company has a market capitalization of $2.29 billion, a PE ratio of 2.00 and a beta of 0.70. The company has a current ratio of 2.58, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08.
Arch Resources Company Profile
Arch Resources, Inc produces and sells metallurgical products. As of December 31, 2022, the company operated seven active mines. It also owned or controlled primarily through long-term leases approximately 28,292 acres of coal land in Ohio; 952 acres of coal land in Maryland; 10,095 acres of coal land in Virginia; 306,263 acres of coal land in West Virginia; 81,450 acres of coal land in Wyoming; 234,087 acres of coal land in Illinois; 33,047 acres of coal land in Kentucky; 362 acres of coal land in Montana; 248 acres of coal land in Pennsylvania; and 19,018 acres of coal land in Colorado, as well as smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.