Coal producer Peabody Energy Corporation (
) on Thursday said its first quarter profit fell from last year,
but results still easily beat expectations and the company's shares
rose in early trading.
The St. Louis-based company reported first quarter net income of
$172.7 million, or 63 cents per share, compared with $176.5
million, or 65 cents per share, in the year-ago period.
Revenue rose 17% from last year to $2.04 billion.
On average, Wall Street analysts expected a smaller profit of 55
cents per share, albeit on higher revenue of $2.08 billion.
Looking ahead, BTU forecast second quarter adjusted earnings of
40 cents to 65 cents per share, while analysts expect 59 cents.
Peabody Energy shares jumped $1.36, or +4.8%, in premarket
The Bottom Line
Shares of Peabody Energy (
) have a 1.19% dividend yield, based on last night's closing stock
price of $28.46. The stock has technical support in the $24-$25
price area. If the shares can firm up, we see overhead resistance
around the $33-$35 price levels.
Peabody Energy Corporation (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.0 out of 5 stars.
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