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MARKETS LIVE BLOG:

STOCKS SLIDE AFTER META'S REALITY CHECK, WITH GDP ON DECK

Owner of Facebook and Instagram plans to spend up to US$10B on AI infrastructure investments

Walter Energy (WLT) in Focus: Stock Plunges 20%

Zacks Equity Research

Walter Energy, Inc. (WLT) saw a big move in the last trading session, as the company’s shares fell by over 20% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent trend of the company, as the stock is now trading within the volatile price range of $8.83 to $11.28 in the past one-month time frame.

This slump shouldn’t be too much of a surprise to investors, as the company, a producer and exporter of metallurgical coal for the steel industry, has seen 12 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.

WLT currently holds a Zacks Rank #4 (Sell) while its Earnings ESP is negative.

Investors interested in the Oils/ Energy industry may consider better-ranked stocks like Rhino Resource Partners LP (RNO), Canadian Solar Inc. (CSIQ) and New Source Energy Partners L.P. (NSLP). All these stocks hold a Zacks Rank #1 (Strong Buy).

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WALTER ENERGY INC (WLT): Free Stock Analysis Report

RHINO RESOURCES INC (RNO): Free Stock Analysis Report

CANADIAN SOLAR INC (CSIQ): Free Stock Analysis Report

NEW SOURCE ENERGY PARTNERS LP (NSLP): Free Stock Analysis Report


Zacks Investment Research