Warrior Met Coal (NYSE:HCC) Hits New 1-Year High After Better-Than-Expected Earnings

Warrior Met Coal (NYSE:HCC)’s stock price reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $77.98 and last traded at $81.6710, with a volume of 332000 shares changing hands. The stock had previously closed at $66.06.

The company reported $0.70 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.91. Warrior Met Coal had a net margin of 3.30% and a return on equity of 2.26%. The company had revenue of $328.59 million for the quarter, compared to analyst estimates of $302.51 million. During the same quarter last year, the business earned $0.80 earnings per share. Warrior Met Coal’s revenue was up .3% compared to the same quarter last year.

Warrior Met Coal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, November 7th will be paid a $0.08 dividend. The ex-dividend date is Friday, November 7th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Warrior Met Coal’s dividend payout ratio (DPR) is presently 41.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. B. Riley dropped their price target on shares of Warrior Met Coal from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, July 22nd. Zacks Research upgraded shares of Warrior Met Coal from a “strong sell” rating to a “hold” rating in a research note on Monday, September 22nd. UBS Group raised their price target on shares of Warrior Met Coal from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Warrior Met Coal in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Warrior Met Coal from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $69.75.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HCC. EverSource Wealth Advisors LLC grew its position in Warrior Met Coal by 217.2% in the second quarter. EverSource Wealth Advisors LLC now owns 682 shares of the company’s stock worth $31,000 after buying an additional 467 shares during the last quarter. Hantz Financial Services Inc. grew its position in Warrior Met Coal by 266.1% in the third quarter. Hantz Financial Services Inc. now owns 626 shares of the company’s stock worth $40,000 after buying an additional 455 shares during the last quarter. Jones Financial Companies Lllp grew its position in Warrior Met Coal by 4,337.5% in the third quarter. Jones Financial Companies Lllp now owns 710 shares of the company’s stock worth $45,000 after buying an additional 694 shares during the last quarter. GAMMA Investing LLC grew its position in Warrior Met Coal by 23.1% in the second quarter. GAMMA Investing LLC now owns 1,346 shares of the company’s stock worth $62,000 after buying an additional 253 shares during the last quarter. Finally, Strs Ohio acquired a new position in Warrior Met Coal in the third quarter worth approximately $76,000. Institutional investors and hedge funds own 92.28% of the company’s stock.

Warrior Met Coal Stock Performance

The company has a quick ratio of 3.44, a current ratio of 4.59 and a debt-to-equity ratio of 0.12. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 104.69 and a beta of 0.75. The company’s 50-day simple moving average is $63.06 and its 200-day simple moving average is $54.85.

About Warrior Met Coal

Warrior Met Coal, Inc produces and exports non-thermal metallurgical coal for the steel industry. It operates two underground mines located in Alabama. The company sells its metallurgical coal to a customer base of blast furnace steel producers located primarily in Europe, South America, and Asia. It also sells natural gas, which is extracted as a byproduct from coal production.