Arch Resources, Inc. (NYSE:ARCH) Forecasted to Post Q3 2024 Earnings of $3.70 Per Share

Arch Resources, Inc. (NYSE:ARCH) – Equities research analysts at B. Riley cut their Q3 2024 EPS estimates for shares of Arch Resources in a research report issued to clients and investors on Tuesday, July 23rd. B. Riley analyst L. Pipes now forecasts that the energy company will post earnings per share of $3.70 for the quarter, down from their prior estimate of $3.89. B. Riley has a “Buy” rating and a $193.00 price objective on the stock. The consensus estimate for Arch Resources’ current full-year earnings is $13.27 per share. B. Riley also issued estimates for Arch Resources’ FY2024 earnings at $11.83 EPS.

Arch Resources (NYSE:ARCH) last posted its earnings results on Monday, April 29th. The energy company reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.19. Arch Resources had a net margin of 10.89% and a return on equity of 22.32%. 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 previous year, the business posted $10.02 EPS. The business’s revenue was down 21.8% compared to the same quarter last year.

Several other research firms have also recently issued reports on ARCH. Citigroup reiterated a “neutral” rating and issued a $170.00 target price (down from $185.00) on shares of Arch Resources in a research note on Thursday, April 18th. 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 report on Wednesday, April 10th. Finally, Benchmark restated a “buy” rating and set a $180.00 price objective on shares of Arch Resources in a research report on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $177.00.

Arch Resources Stock Performance

ARCH opened at $141.03 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.64 and a quick ratio of 1.89. The firm has a fifty day moving average price of $160.80 and a 200 day moving average price of $164.47. Arch Resources has a 1 year low of $111.52 and a 1 year high of $187.60. The stock has a market cap of $2.56 billion, a P/E ratio of 8.30 and a beta of 0.63.

Institutional Investors Weigh In On Arch Resources

A number of large investors have recently modified their holdings of ARCH. Vanguard Group Inc. grew its holdings in shares of Arch Resources by 13.9% in the first quarter. Vanguard Group Inc. now owns 2,347,568 shares of the energy company’s stock valued at $377,465,000 after purchasing an additional 286,359 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Arch Resources by 681.4% in the first quarter. Principal Financial Group Inc. now owns 108,929 shares of the energy company’s stock valued at $17,515,000 after purchasing an additional 94,989 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Arch Resources in the first quarter valued at about $9,397,000. Lodge Hill Capital LLC grew its holdings in shares of Arch Resources by 54.2% in the first quarter. Lodge Hill Capital LLC now owns 131,100 shares of the energy company’s stock valued at $21,080,000 after purchasing an additional 46,100 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of Arch Resources by 248.6% in the first quarter. Empowered Funds LLC now owns 57,859 shares of the energy company’s stock valued at $9,303,000 after purchasing an additional 41,263 shares during the period. Hedge funds and other institutional investors own 88.14% of the company’s stock.

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.