What is B. Riley’s Forecast for AMR FY2024 Earnings?

Alpha Metallurgical Resources, Inc. (NYSE:AMR) – B. Riley reduced their FY2024 earnings per share estimates for Alpha Metallurgical Resources in a research note issued on Tuesday, October 22nd. B. Riley analyst L. Pipes now expects that the energy company will post earnings of $17.89 per share for the year, down from their prior estimate of $18.04. B. Riley currently has a “Buy” rating and a $336.00 target price 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 reissued a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Wednesday, October 16th.

Alpha Metallurgical Resources Stock Performance

Shares of AMR opened at $203.37 on Thursday. The company has a market capitalization of $2.65 billion, a PE ratio of 4.93 and a beta of 1.30. The company’s 50 day moving average price is $219.74 and its 200 day moving average price is $273.53. 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 released its earnings results on Monday, August 5th. The energy company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.03. The company had revenue of $804.00 million for the quarter, compared to analysts’ expectations of $733.05 million. Alpha Metallurgical Resources had a return on equity of 28.63% and a net margin of 13.52%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $12.16 EPS.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. American International Group Inc. increased its holdings in Alpha Metallurgical Resources by 1.1% in the fourth quarter. American International Group Inc. now owns 6,300 shares of the energy company’s stock worth $2,135,000 after buying an additional 67 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Alpha Metallurgical Resources by 5.8% during the 4th quarter. Wellington Management Group LLP now owns 50,053 shares of the energy company’s stock worth $16,964,000 after purchasing an additional 2,754 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Alpha Metallurgical Resources by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 1,213,584 shares of the energy company’s stock valued at $411,308,000 after purchasing an additional 61,915 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Alpha Metallurgical Resources by 947.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 178 shares of the energy company’s stock valued at $60,000 after purchasing an additional 161 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Alpha Metallurgical Resources by 70.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,848 shares of the energy company’s stock worth $1,274,000 after purchasing an additional 1,596 shares in the last quarter. 84.29% of the stock is owned by hedge funds and other institutional investors.

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.