In a tough tape on Friday Coal related stocks performed above average and look to continue to run with profitable expectations growing. Massey Energy (MEE), Alpha Natural Resources (ANR) and Arch Coal (ACI) all have rising earnings expectations and are at 52 week highs. Just this past Monday, a broker, David Khani from FBR Capital Markets raised his price guidance for coal for next couple of years.
Massey Energy had a 1.48% increase on Friday when the S&P 500 fell 3%. This heavily covered producer of coal has had their current year earnings estimates increased for the current quarter from 0.50 to 0.76 in the past 90 days. The 13 analysts that cover the stock have also raised the yearly earnings estimates. The yearly earnings estimates have risen from 1.96 to 2.97 in the same 90 day period. Revenue is expected to increase 16% in the current quarter and 23.6% in the next quarter.
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