Market Overview

Nomura Says Walter Energy May Suspend Dividend

Share:

Nomura Analyst Curt Woodworth released a report on Walter Energy (NYSE: WLT) Wednesday morning stating that the company may suspend its dividend at its July board meeting.

A dividend cut would save the company $31 million while cutting capital spending by between $40 and $50 million, and would allow the company to get covenant relief.

The report also stated that Walter may seek alternatives in order to restructure and refinance its term loan in the near term.

Nomura has a Neutral rating on Walter Energy and a $13 price target.

Walter Energy shares fell sharply following the report, giving up 10.7 percent to $10.28 midway through the session Wednesday.

Posted-In: Analyst Color News Analyst Ratings Movers

 

Related Articles (WLT)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
APDUpgrades215.0
DPZReiterates325.0
ORLYMaintains435.0
NOWMaintains245.0
MCOMaintains195.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

Summary of Important Points from General Mills Conference Call

Hudson Valley Bank Names First Vice President and Senior Trust Officer