Walter Energy Urges Shareholders to Vote for ALL TEN Board Nominees (BusinessWire)
Walter Energy, Inc. (NYSE:WLT) today released the following open letter to shareholders: Dear Fellow Walter Energy Shareholders: We have spoken with many of you personally over the past months, and we want to thank you for your constructive insights and feedback. We pledge to continue to have an open dialogue with you in the months ahead. With days left before our Annual Meeting on April 25, we want to reaffirm that your Board is aligned with you in its commitment to maximize shareholder value. Since last Fall, when the met coal market began to decline, your Board and management team have taken decisive actions to position Walter Energy to deliver substantial increased value when met coal prices recover by aggressively reducing costs, safely increasing profitable met coal production, and improving your Company’s financial flexibility.
Investor assails Walter Energy’s accounting (TheDeal)
Activist investor Audley Capital Advisors LLP continued its push for change at Walter Energy, Inc. (NYSE:WLT) on Wednesday, April 17, sending a letter to management asking it to change the coal mining company’s accounting policies to be better aligned with its competitors. Specifically, Audley is asking Walter management to provide a per ton cost analysis by geographic location instead of its current practice of lumping mining costs together, so that shareholders can see what the most cost-effective mines the company has. The activist also wants Tampa, Fla.-based Walter to examine its per ton costs “compared to the average of its peer group since the completion of the Western Coal [Corp.] acquisition in April 2011,” the letter stated.
Walter Energy Given New $25.00 Price Target at BMO Capital Markets (WLT) (UtahPeoplesPost)
Walter Energy, Inc. (NYSE:WLT) had its target price trimmed by BMO Capital Markets from $35.00 to $25.00 in a report issued on Monday, StockRatingsNetwork reports. They currently have a market perform rating on the stock. WLT has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a neutral rating on shares of Walter Energy in a research note to investors on Friday, April 12th. They now have a $25.00 price target on the stock. Separately, analysts at RBC Capital reiterated a sector perform rating on shares of Walter Energy in a research note to investors on Friday, April 12th. They now have a $33.00 price target on the stock. Finally, analysts at RBC Capital cut their price target on shares of Walter Energy, Inc. (NYSE:WLT) from $34.00 to $33.00 in a research note to investors on Thursday, March 28th. They now have a sector perform rating on the stock.
Audley Capital highlights superior qualifications of its director nominees (CoalGuru)
Audley Capital Advisors LLP reiterated the overall strength of its 5 highly qualified and experienced nominees for election to the Board of Directors of Walter Energy, Inc. (NYSE:WLT), Incat the Company’s upcoming 2013 Annual Meeting of Stockholders on April 25th2013. Mr Julian Treger managing partner of Audley Capital Advisors said that “We believe that the Board has been dominated for too long by a clique of longtime directors who have not worked in the best interest of stockholders. At this most critical time in Walter Energy’s history, we believe that there is a substantial lack of mining and public market experience among the current Board members.
Eat Chipotle’s Burritos, but Don’t Buy Its Stock (Fool)
Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) soared after the company reported strong earnings last night. By 2:15 p.m. EDT, the stock was up 11%, topping the $360 mark for the first time since last summer. But can the burrito king’s stock live up to the promises its high valuation is making? Based on the most recent quarterly report, you can definitely make a case justifying today’s gains. The restaurant chain boosted its earnings by 22% on a 13% rise in revenue, with new-store growth driving the better results. Chipotle said it opened 48 new restaurants, and it hopes to hit 180 new locations for the year as a whole.
Strong 1Q results fuel Chipotle stock surge (Yahoo)
Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG), are rising Friday, a day after the burrito maker reported first-quarter results that beat Wall Street expectations. THE SPARK: Denver-based Chipotle reported that it earned $76.6 million, or $2.45 per share in the first quarter ended March 31. That’s up from $62.7 million, or $1.97 per share, a year ago. Total revenue rose 13 percent to $726.8 million, primarily as the result of new locations. The figures were announced after regular trading. The company said it expects flat to low-single-digit sales growth at established locations. That’s not counting any potential hikes it makes to menu prices. The company declined to say when it might raise prices but said it likely wouldn’t be around the middle of the year, as it had previously suggested.
Chipotle rolling out premium margaritas (DaytonDailyNews)
Area Chipotle Mexican Grill, Inc. (NYSE:CMG) restaurants will start mixing up made-to-order, premium margaritas in time for Cinco De Mayo, according to National Restaurant News and other media outlets. The margarita made of Patrón Silver tequila, Triple Sec, fresh lime and lemon juices and organic agave nectar will be sold at 900 of the Denver-based chain’s 1,458 restaurants beginning April 29. They will cost $6.50 and $8. “Many people are not aware, but we have served margaritas at Chipotle from the beginning,” said Mark Crumpacker, chief marketing officer at Chipotle, in a press statement posted on the Huffington Post. “Previously, however, they were made using a margarita mix and we didn’t feel they were as delicious as they could be. Our new margarita recipe eliminates the mix in favor of a few simple ingredients. The new margarita tastes much better and is a really terrific addition to our menu.”
Chipotle Jumps as First-Quarter Sales Beat Estimates (BusinessWeek)
Chipotle Mexican Grill, Inc. (NYSE:CMG), the Denver-based fast-casual dining chain, rose the most in almost 18 months after first-quarter sales topped analysts’ estimates, helped by an acceleration of store openings. Chipotle added 7.4 percent to $352.59 and earlier climbed as much as 8.1 percent for the biggest intraday gain since Oct. 21, 2011. The shares increased 10 percent this year through yesterday, compared with an 8.1 percent gain for the Standard & Poor’s 500 Index.
Deutsche Bank Raises PT on Chipotle Mexican Grill on Solid 1Q Margins Beat (Benzinga)
In a report published Friday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on Chipotle Mexican Grill, Inc. (NYSE:CMG), and raised the price target from $330.00 to $345.00. In the report, Poole noted, “The double-edged sword of commodity inflation. CMG posted a solid beat on 1Q margins, and ests. moving higher. However, mgmt. showed more hesitation around raising menu prices than in recent calls, citing some moderation in food infl. and a choppy macro. Higher pricing is a key component of the 2H bull case. The uncertainty here may limit near-term upside in the shares.” Chipotle Mexican Grill closed on Thursday at $328.36.
