What is B. Riley's Estimate for AMR FY2024 Earnings?

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) - Analysts at B. Riley lowered their FY2024 earnings per share estimates for Alpha Metallurgical Resources in a research report issued to clients and investors 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 estimate of $18.04. B. Riley currently 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 reissued a "hold" rating on shares of Alpha Metallurgical Resources in a report on Wednesday, October 16th.

Alpha Metallurgical Resources Stock Up 2.5 %

NYSE:AMR traded up $4.95 during trading hours on Thursday, reaching $203.37. 182,250 shares of the company's stock were exchanged, compared to its average volume of 221,636. Alpha Metallurgical Resources has a 1-year low of $185.00 and a 1-year high of $452.00. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 4.81 and a beta of 1.30. The company has a 50-day moving average of $220.38 and a 200 day moving average of $274.02.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $804.00 million during 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 company's revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $12.16 earnings per share.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. acquired a new position in shares of Alpha Metallurgical Resources in the 2nd quarter valued at $25,000. GAMMA Investing LLC increased its stake in shares of Alpha Metallurgical Resources by 124.6% in the third 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 last quarter. Sound Income Strategies LLC acquired a new stake in shares of Alpha Metallurgical Resources in the 3rd quarter valued at about $40,000. PNC Financial Services Group Inc. lifted its holdings 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 worth $60,000 after buying an additional 161 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Alpha Metallurgical Resources during the first quarter worth $88,000. 84.29% of the stock is currently 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.