Warrior Met Coal (NYSE:HCC) Shares Gap Up on Strong Earnings

Posted by on May 5th, 2023

Warrior Met Coal, Inc. (NYSE:HCC – Get Rating)’s stock price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $33.59, but opened at $36.00. Warrior Met Coal shares last traded at $35.77, with a volume of 168,784 shares trading hands.

The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $1.45. Warrior Met Coal had a net margin of 36.88% and a return on equity of 52.03%. The firm had revenue of $509.70 million for the quarter, compared to the consensus estimate of $413.82 million. During the same period in the prior year, the firm posted $2.97 EPS. The firm’s revenue was up 34.6% compared to the same quarter last year.

Warrior Met Coal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 12th. Shareholders of record on Friday, May 5th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.28 dividend on an annualized basis and a yield of 0.78%. Warrior Met Coal’s dividend payout ratio (DPR) is 2.26%.

Analyst Ratings Changes

A number of research firms have commented on HCC. B. Riley increased their price objective on shares of Warrior Met Coal from $50.00 to $55.00 in a research note on Tuesday, January 17th. Citigroup increased their target price on shares of Warrior Met Coal from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, February 17th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.00.

Institutional Trading of Warrior Met Coal

A number of large investors have recently modified their holdings of HCC. Point72 Middle East FZE acquired a new stake in shares of Warrior Met Coal in the 4th quarter worth about $45,000. Point72 Hong Kong Ltd increased its holdings in shares of Warrior Met Coal by 4,220.4% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,117 shares of the company’s stock worth $65,000 after acquiring an additional 2,068 shares during the period. Captrust Financial Advisors increased its holdings in shares of Warrior Met Coal by 86.8% in the 1st quarter. Captrust Financial Advisors now owns 3,863 shares of the company’s stock worth $143,000 after acquiring an additional 1,795 shares during the period. Covestor Ltd increased its holdings in shares of Warrior Met Coal by 23,505.9% in the 1st quarter. Covestor Ltd now owns 4,013 shares of the company’s stock worth $149,000 after acquiring an additional 3,996 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Warrior Met Coal in the 4th quarter worth about $157,000. Institutional investors and hedge funds own 98.01% of the company’s stock.

Warrior Met Coal Stock Performance

The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 2.88 and a beta of 1.04. The company has a debt-to-equity ratio of 0.23, a quick ratio of 6.66 and a current ratio of 7.66. The company’s 50 day simple moving average is $36.44 and its 200 day simple moving average is $36.43.

About Warrior Met Coal

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Warrior Met Coal, Inc engages in the production and export of metallurgical coal. The company was founded on September 3, 2015 and is headquartered in Brookwood, AL.

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