Westmoreland Coal Company (WLB) is Reiterated by FBR & Co. to Outperform, Raises Price Target to $ 12

Westmoreland Coal Company (WLB) was Reiterated by FBR & Co. to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 12 from a previous price target of $11 . FBR & Co. advised their investors in a research report released on Oct 13, 2016.

On the company’s financial health, Westmoreland Coal Company reported $-1.37 EPS for the quarter, missing the analyst consensus estimate by $ -1.25 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.12. The company had revenue of $356.20 million for the quarter, compared to analysts expectations of $340.27 million. The company’s revenue was up 2.1% compared to the same quarter last year.

Westmoreland Coal Company closed down -0.56 points or -5.94% at $8.87 with 2,44,435 shares getting traded on Tuesday. Post opening the session at $9.34, the shares hit an intraday low of $8.26 and an intraday high of $9.35 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on May 26, 2015, Michael G Hutchinson (director) sold 3,500 shares at $26.07 per share price. According to the SEC, on May 21, 2015, John Alexander Schadan (President – Canada Operations) purchased 500 shares at $25.85 per share price. On May 4, 2015, Russell H Werner (Corporate Controller & PAO) sold 5,572 shares at $28.47 per share price, according to the Form-4 filing with the securities and exchange commission.

Westmoreland Coal Company (Westmoreland) is an energy company. The Company operates in six segments: Coal – U.S. Coal – Canada Coal – WMLP Power Heritage and Corporate. Coal – U.S. segment includes the aggregated operations of coal mines located in Wyoming Montana North Dakota and Texas. Coal – Canada segment includes the aggregated operations of coal mines located in Alberta and Saskatchewan. Coal – WMLP segment includes the operations of the Company’s ownership in the general partner and majority interest in Westmoreland Resource Partners LP (WMLP) a publicly-traded coal master limited partnership. Power segment includes its ROVA operations located in North Carolina. Heritage segment costs primarily include benefits the Company provides to former mining operation employees as well as other administrative costs associated with providing those benefits and cost containment efforts. Corporate segment primarily consists of corporate administrative expenses.

Westmoreland Coal Company

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