Walter Industries, Inc. (fka WLTGQ)

[Tommy]

$WLT - Nomura Lowers Walter Energy Price Target to $13.00 (WLT)

http://tickerreport.com/nomura-lowers-walter-energy-price-target-to-13-00-wlt/8761/

Nomura reduced their price target on shares of Walter Energy (NYSE: WLT) from $19.00 to $13.00 in a research note issued on Thursday, StockRatingsNetwork.com reports. The firm currently has a “hold” rating on the stock. Nomura’s price target points to a potential downside of 11.50% from the stock’s previous close.

Walter Energy (NYSE: WLT) traded down 17.29% on Thursday, hitting $12.15. Walter Energy has a 52-week low of $13.94 and a 52-week high of $48.99. The stock’s 50-day moving average is currently $17.46. The company’s market cap is $760.2 million.

Walter Energy (NYSE: WLT) last released its earnings data on Wednesday, May 1st. The company reported ($0.64) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.87) by $0.23. The company had revenue of $491.30 million for the quarter, compared to the consensus estimate of $504.90 million. During the same quarter last year, the company posted $0.65 earnings per share. Walter Energy’s revenue was down 22.2% compared to the same quarter last year. Analysts expect that Walter Energy will post $-1.78 EPS for the current fiscal year.

WLT has been the subject of a number of other recent research reports. Analysts at FBR Capital Markets cut their price target on shares of Walter Energy from $24.00 to $20.00 in a research note to investors on Thursday. They now have a “market perform” rating on the stock. Separately, analysts at Raymond James downgraded shares of Walter Energy from a “market perform” rating to an “underperform” rating in a research note to investors on Friday, June 7th. Finally, analysts at Jefferies Group upgraded shares of Walter Energy to a “buy” rating in a research note to investors on Tuesday, May 14th.

Four analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $36.19.

Walter Energy, Inc. is a producer and exporter of metallurgical coal for the global steel industry and also produces steam coal, coal bed methane gas (NYSE: WLT), metallurgical coke and other related products.