Brean Murray Carret & Co. Downgrades Arch Coal Inc (ACI) to Hold; Difficult Position to Sell Thermal Coal Volumes in '12
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Price: $12.42 +0.16%
Rating Summary:
18 Buy, 17 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
18 Buy, 17 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Brean Murray Carret & Co. downgraded Arch Coal Inc (NYSE: ACI) from Buy to Hold.
Brean analyst says, "We are downgrading ACI as we believe that ACI is in a difficult position to sell its unpriced and uncommitted 2012 volumes, and this potential shortfall in sales trends to hinder their growth in the near-term. The company expects to sell 142-158 million tons of thermal coal in 2012, but only 122 million tons of thermal coal sales are currently committed and priced."
Brean analyst cuts FY12 EPS estimate from $1.77 to $0.78 and FY13 from $2.16 to $1.10.
For an analyst ratings summary and ratings history on Arch Coal Inc click here. For more ratings news on Arch Coal Inc click here.
Shares of Arch Coal Inc closed at $14.39 yesterday.
Brean analyst says, "We are downgrading ACI as we believe that ACI is in a difficult position to sell its unpriced and uncommitted 2012 volumes, and this potential shortfall in sales trends to hinder their growth in the near-term. The company expects to sell 142-158 million tons of thermal coal in 2012, but only 122 million tons of thermal coal sales are currently committed and priced."
Brean analyst cuts FY12 EPS estimate from $1.77 to $0.78 and FY13 from $2.16 to $1.10.
For an analyst ratings summary and ratings history on Arch Coal Inc click here. For more ratings news on Arch Coal Inc click here.
Shares of Arch Coal Inc closed at $14.39 yesterday.
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