Research Analysts Issue Forecasts for AMR FY2024 Earnings

Alpha Metallurgical Resources, Inc. (NYSE:AMR) – Equities researchers at B. Riley cut their FY2024 earnings estimates for Alpha Metallurgical Resources in a report released on Tuesday, October 22nd. B. Riley analyst L. Pipes now expects that the energy company will post earnings per share of $17.89 for the year, down from their previous forecast of $18.04. B. Riley has a “Buy” rating and a $336.00 price objective on the stock. The consensus estimate for Alpha Metallurgical Resources’ current full-year earnings is $20.67 per share. B. Riley also issued estimates for Alpha Metallurgical Resources’ FY2025 earnings at $33.29 EPS and FY2026 earnings at $38.13 EPS.

Separately, Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Wednesday, October 16th.

Alpha Metallurgical Resources Stock Up 1.3 %

AMR opened at $206.01 on Thursday. The company has a market cap of $2.68 billion, a P/E ratio of 4.99 and a beta of 1.30. The firm’s 50-day moving average price is $219.05 and its 200-day moving average price is $272.78. Alpha Metallurgical Resources has a 52-week low of $185.00 and a 52-week high of $452.00.

Alpha Metallurgical Resources (NYSE:AMR) last announced its earnings results on Monday, August 5th. The energy company reported $4.49 earnings per share for the quarter, topping the consensus estimate of $4.46 by $0.03. The firm had revenue of $804.00 million for the quarter, compared to the consensus estimate of $733.05 million. Alpha Metallurgical Resources had a return on equity of 28.63% and a net margin of 13.52%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $12.16 EPS.

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMR. Federated Hermes Inc. purchased a new position in shares of Alpha Metallurgical Resources in the second quarter worth about $25,000. GAMMA Investing LLC increased its holdings in Alpha Metallurgical Resources by 124.6% in the 3rd quarter. GAMMA Investing LLC now owns 137 shares of the energy company’s stock worth $32,000 after buying an additional 76 shares during the period. Sound Income Strategies LLC purchased a new position in Alpha Metallurgical Resources during the 3rd quarter worth approximately $40,000. PNC Financial Services Group Inc. lifted its stake in Alpha Metallurgical Resources by 947.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 178 shares of the energy company’s stock valued at $60,000 after acquiring an additional 161 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Alpha Metallurgical Resources in the 1st quarter valued at $88,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc, a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company offers metallurgical coal products. It operates twenty-two active mines and nine coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc and changed its name to Alpha Metallurgical Resources, Inc in February 2021.