Warrior Met Coal, Inc. (NYSE:HCC) to Post Q1 2024 Earnings of $2.02 Per Share, B. Riley Forecasts

Warrior Met Coal, Inc. (NYSE:HCC) – Analysts at B. Riley reduced their Q1 2024 earnings estimates for shares of Warrior Met Coal in a research report issued to clients and investors on Monday, April 15th. B. Riley analyst L. Pipes now expects that the company will post earnings per share of $2.02 for the quarter, down from their prior estimate of $2.39. B. Riley has a “Buy” rating and a $87.00 price objective on the stock. The consensus estimate for Warrior Met Coal’s current full-year earnings is $8.41 per share. B. Riley also issued estimates for Warrior Met Coal’s Q2 2024 earnings at $0.62 EPS and FY2024 earnings at $6.10 EPS.

Several other research firms have also commented on HCC. Citigroup raised shares of Warrior Met Coal from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $60.00 to $75.00 in a research note on Thursday, April 11th. UBS Group initiated coverage on shares of Warrior Met Coal in a report on Tuesday, January 16th. They issued a “neutral” rating and a $68.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.60.

Warrior Met Coal Trading Up 1.6 %

Shares of HCC opened at $66.12 on Thursday. The company’s fifty day moving average is $58.85 and its 200 day moving average is $57.22. Warrior Met Coal has a fifty-two week low of $31.97 and a fifty-two week high of $69.97. The stock has a market capitalization of $3.46 billion, a PE ratio of 7.19 and a beta of 1.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 5.99 and a current ratio of 7.24.

Warrior Met Coal (NYSE:HCC) last released its quarterly earnings data on Wednesday, February 14th. The company reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.67). Warrior Met Coal had a net margin of 28.55% and a return on equity of 28.99%. The company had revenue of $363.80 million for the quarter, compared to the consensus estimate of $393.04 million. During the same quarter in the previous year, the business earned $1.90 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis.

Hedge Funds Weigh In On Warrior Met Coal

A number of institutional investors have recently bought and sold shares of HCC. Envestnet Asset Management Inc. purchased a new position in Warrior Met Coal during the 1st quarter worth approximately $235,000. Bank of New York Mellon Corp grew its stake in Warrior Met Coal by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 624,104 shares of the company’s stock valued at $23,161,000 after acquiring an additional 16,725 shares during the period. Citigroup Inc. boosted its stake in Warrior Met Coal by 9.7% during the 1st quarter. Citigroup Inc. now owns 46,040 shares of the company’s stock worth $1,709,000 after purchasing an additional 4,079 shares during the last quarter. Bank of Montreal Can boosted its stake in Warrior Met Coal by 502.1% during the 1st quarter. Bank of Montreal Can now owns 80,742 shares of the company’s stock worth $3,031,000 after purchasing an additional 67,332 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in Warrior Met Coal by 59.4% during the 1st quarter. MetLife Investment Management LLC now owns 27,476 shares of the company’s stock worth $1,020,000 after purchasing an additional 10,240 shares during the last quarter. 92.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Warrior Met Coal

In other news, Director Alan H. Schumacher purchased 2,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was acquired at an average cost of $58.15 per share, with a total value of $116,300.00. Following the completion of the transaction, the director now owns 30,270 shares in the company, valued at approximately $1,760,200.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Warrior Met Coal Dividend Announcement

The company also recently declared a None dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, March 1st were given a dividend of $0.50 per share. The ex-dividend date was Thursday, February 29th. Warrior Met Coal’s payout ratio is 3.48%.

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.