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Coal India revises one-year price target amid increased institutional ownership

Published Nov 01, 2023 06:18AM ET
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Coal India, the India-based coal mining and refinery company, has revised its one-year price target to $292.74 per share, marking a 7.62% increase from the previous estimate. This new target, however, reflects a 6.92% decrease from the latest closing price of $314.50 per share. The range of current targets extends from $181.80 to $414.75 per share.

The company continues to maintain a strong dividend yield of 7.71% and a payout ratio of 0.55, indicating that over half of its income is distributed as dividends to shareholders. The three-year dividend growth rate stands at 1.02%.

Institutional ownership in Coal India has seen a notable increase over the last three months, with an 18.5% rise, reaching 245,374K shares. The company is currently held by 135 entities, marking an increase of one owner in the last quarter. Despite a decrease of 4.75%, the average portfolio weight dedicated to Coal India remains at 0.27%.

Among the institutional investors holding stakes in Coal India are GQG PARTNERS EMERGING MARKETS EQUITY FUND Investor Shares, Vanguard Emerging Markets Stock Index Fund Investor Shares, Vanguard Total International Stock Index Fund Investor Shares, Fidelity Series Emerging Markets Opportunities Fund, and iShares Core MSCI Emerging Markets ETF.

The revised price target and increased institutional ownership highlight Coal India's position in the emerging markets sector and reflect investor confidence in the company's performance and dividend payout strategy.

InvestingPro Insights

As per InvestingPro's real-time data, COALINDIA's adjusted market cap stands at 19.59M USD. The company's P/E ratio is 8.19, indicating it is trading at a low price relative to its earnings. The revenue growth for the last twelve months as of Q2 2023 is a robust 52.95%, albeit with a slight quarterly dip of -20.45% in Q2 2023.

InvestingPro Tips suggest that COALINDIA yields a high return on invested capital and holds more cash than debt on its balance sheet. The company has also been consistently increasing its earnings per share, showcasing a strong financial performance. Moreover, COALINDIA has maintained dividend payments for 13 consecutive years, aligning with the company's strong dividend yield and payout ratio mentioned in the article.

For those looking to delve deeper into investment strategies and gain more insights, InvestingPro offers a multitude of additional tips. For instance, there are 14 tips available specifically for COALINDIA, providing a comprehensive overview of the company's financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Coal India revises one-year price target amid increased institutional ownership
 

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