Sterne Agee Lowers FY11 EPS Estimate to $.25 on James River Coal
A report from Sterne Agee reiterates its Buy rating and $15 price target, and lower its FY11 EPS estimate from $.45 to $.25 on James River Coal (NASDAQ: JRCC).
The report states, “Given JRCC's capitalization, production and margin leverage per outstanding share, results tend to be volatile. Q3 earnings do not suggest a more negative share price reaction. At its current valuation, James River Coal's equity market capitalization barely exceeds its unrestricted cash on its balance sheet."
JRCC closed yesterday at $9.48.
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