Massey Energy Co. (NYSE:MEE) is expected to report Q3 earnings after market close Thursday Oct. 30, with a conference call scheduled for Friday, October 31 at 11:00 am ET.
Analysts are looking for EPS of 73c on revenue of $771.28M. There is a wide consensus range for EPS and revenue with analysts expecting 50c to $1.07 for EPS, and $689.1M to $851.12M for revenue, according to First Call. The company refined its production guidance in September, expecting Q3 produced tons sold to be in the range of 10.3M to 10.7M at an average price of $64.00 to $66.00 per ton.
Jefferies said in September it believes the company's shares are oversold relative to peers. The firm also thinks the market is largely ignoring the company's solid contract pricing potential and leverage. Massey's shares remain Buy rated with an $80 target at the firm.
Massey Energy was downgraded today to Above Average from Buy at Caris. The firm also lowered its target for the company's shares to $46 from $103.