Nomura Securities Maintains a 'Neutral' on Walter Energy (WLT); Cutting Estimates on Canada's Cost Issues
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Price: $0.16 --0%
Rating Summary:
1 Buy, 16 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 16 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Neutral' on Walter Energy (NYSE: WLT) price target of $70.00.
Analyst, Curt Woodworth, said, "WLT reported 1Q12 EPS of $0.65 vs. NMR Estimate of $0.75 (Street at $0.80) We are lowering 2012E EPS from $4.50 to $3.30 vs. Street at $4.13, due to higher cost estimates for Walter's UK/Canadian operation. Our cash cost estimate for the UK/Canadian segment increasing from 130 to 147. U.S. operations continue to show steady improvement, with met production reaching 2.0mt in 1Q12, up from 1.5mt last year and up from 1.4mt last quarter. WLT trades at 9.6x 2012 EV/EBITDA and at 7.3x 2013 EV/EBITDA, which we view as near fair ranges."
For an analyst ratings summary and ratings history on Walter Energy click here. For more ratings news on Walter Energy click here.
Shares of Walter Energy closed at $63.92 yesterday.
Analyst, Curt Woodworth, said, "WLT reported 1Q12 EPS of $0.65 vs. NMR Estimate of $0.75 (Street at $0.80) We are lowering 2012E EPS from $4.50 to $3.30 vs. Street at $4.13, due to higher cost estimates for Walter's UK/Canadian operation. Our cash cost estimate for the UK/Canadian segment increasing from 130 to 147. U.S. operations continue to show steady improvement, with met production reaching 2.0mt in 1Q12, up from 1.5mt last year and up from 1.4mt last quarter. WLT trades at 9.6x 2012 EV/EBITDA and at 7.3x 2013 EV/EBITDA, which we view as near fair ranges."
For an analyst ratings summary and ratings history on Walter Energy click here. For more ratings news on Walter Energy click here.
Shares of Walter Energy closed at $63.92 yesterday.
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