Walter Energy, Inc. (WLT)

by Zacks Equity Research

November 29, 2012 |
WLT

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Walter Energy Inc. (WLT) posted lackluster results in the third quarter with both top and bottom lines lagging the Zacks Consensus Estimates. The global coal market downturn and softness in selling prices negatively impacted results.

The global economic stalemate is expected to linger, thereby dragging down the company's sales and profit. Declining sales resulting in coal stockpiles would prove unprofitable for the company in the short term. This, along with the company's narrow capex outlook for 2013 is expected to shake investor confidence.

We remain bearish for the company stock in the long run. Our $26.00 target price is based on 2.4x trailing 12-month cash flow per share.

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