Arch Coal (ACI) Shares Continue to Slide; Several Wall Street Firms Cut Rating/Estimates

Arch Coal (NYSE: ACI) shares are down $0.52 (-3.61%) to $13.87 today, continuing to slide after last Friday's (Feb 10) 7%+ drop.

Before the open Feb. 10, ACI reported Q4 EPS of $0.29, $0.03 worse than estimates. Revenues were $1.23 billion vs the consensus estimate of $1.3 billion.

This morning, Brean Murray Carret & Co. downgrades Arch Coal Inc (NYSE: ACI) from 'Buy' to 'Hold'.

Dahlman Rose maintained a 'Buy' rating, but cut their price target from $25 to $20. Dahlman also cut its 2012 and 2013 EBITDA estimates to $1.06 and $1.22 billion from $1.2 and $1.4 billion previously.

Barclays analyst, David Gagliano, maintains an 'Equalweight' rating, but cut his price target from $22 to $16. Gagliano also cut FY12 EPS estimates from $2.51 to $0.97 and FY13 from $3.59 to $1.70.

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