Brokerages expect Alliance Resource Partners, L.P. (NASDAQ:ARLP) to post $503.05 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Alliance Resource Partners’ earnings. The highest sales estimate is $507.24 million and the lowest is $497.10 million. Alliance Resource Partners reported sales of $453.19 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 11%. The business is expected to report its next quarterly earnings report on Monday, October 29th.
On average, analysts expect that Alliance Resource Partners will report full year sales of $1.98 billion for the current year, with estimates ranging from $1.98 billion to $2.00 billion. For the next financial year, analysts anticipate that the company will post sales of $1.95 billion per share, with estimates ranging from $1.89 billion to $2.01 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Alliance Resource Partners.
Alliance Resource Partners (NASDAQ:ARLP) last issued its earnings results on Monday, July 30th. The energy company reported $0.64 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.64. The business had revenue of $516.10 million during the quarter, compared to analysts’ expectations of $491.55 million. Alliance Resource Partners had a net margin of 19.77% and a return on equity of 24.78%. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 earnings per share.
Alliance Resource Partners stock traded up $0.25 during trading hours on Monday, hitting $20.65. The stock had a trading volume of 337,600 shares, compared to its average volume of 405,593. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 1.15. The stock has a market capitalization of $2.68 billion, a PE ratio of 7.20 and a beta of 0.76. Alliance Resource Partners has a 12-month low of $15.55 and a 12-month high of $21.90.
Alliance Resource Partners declared that its board has authorized a stock repurchase plan on Thursday, May 31st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the energy company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 14th. Stockholders of record on Tuesday, August 7th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 10.07%. This is a boost from Alliance Resource Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Monday, August 6th. Alliance Resource Partners’s payout ratio is presently 72.47%.
In related news, Director Nick Carter acquired 2,219 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was purchased at an average cost of $19.85 per share, with a total value of $44,047.15. Following the completion of the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $397,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 44.03% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Morgan Stanley grew its position in Alliance Resource Partners by 92.9% during the second quarter. Morgan Stanley now owns 2,085,152 shares of the energy company’s stock valued at $38,263,000 after buying an additional 1,004,474 shares during the period. Wells Fargo & Company MN grew its position in Alliance Resource Partners by 487.9% during the second quarter. Wells Fargo & Company MN now owns 1,204,839 shares of the energy company’s stock valued at $22,109,000 after buying an additional 999,910 shares during the period. Bank of Montreal Can grew its position in Alliance Resource Partners by 64.3% during the second quarter. Bank of Montreal Can now owns 1,047,600 shares of the energy company’s stock valued at $19,223,000 after buying an additional 410,000 shares during the period. FMR LLC grew its position in Alliance Resource Partners by 0.7% during the second quarter. FMR LLC now owns 836,100 shares of the energy company’s stock valued at $15,342,000 after buying an additional 5,700 shares during the period. Finally, First Manhattan Co. grew its position in Alliance Resource Partners by 40.9% during the second quarter. First Manhattan Co. now owns 581,218 shares of the energy company’s stock valued at $10,665,000 after buying an additional 168,579 shares during the period. Institutional investors own 28.96% of the company’s stock.
About Alliance Resource Partners
Alliance Resource Partners, L.P. produces and markets coal primarily to utilities and industrial users in the United States. The company operates through two segments, Illinois Basin and Appalachia. It produces a range of steam and metallurgical coal with sulfur and heat contents. The company operates eight underground mining complexes in Illinois, Indiana, Kentucky, Maryland, and West Virginia.
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