High Hopes for Patriot Coal (PCX)

Patriot Coal Corp (NYSE:PCX) reports earnings tomorrow morning and the Street is looking for the company to report a loss of 30 cents on sales of $526 million.

Patriot Coal (PCX) shares have traded between $8.04 and its 52-week high of $24.25 over the past 12 months.
PCX shares closed the day at $13.67, up 0.22% or $0.03 and investors are hoping for encouraging news during tomorrow's conference call.

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Patriot Coal Corp shares are now trading with a P/E Ratio of 12 and EPS of 1.14.  Its shares have managed to moved up 41.19% from its 52-week low however since mid April its stock has tanked 37%.

For the full year, analysts expect Patriot Coal Corp (PCX) to post a loss of $0.69. In the year-ago period, the company reported EPS of $0.34 on sales of $507 million.  In the previous quarter, Patriot reported a loss of $0.12, topping consensus estimates for a loss of $0.48.

Patriot Coal Corp has 14 mining complexes in Appalachia and the Illinois Basin. The company ships to domestic and international electric utilities, industrial users and metallurgical coal customers, and controls approximately 1.8 billion tons of proven and probable coal reserves. 

Should the company come out well on the call, this stock could really fly, thanks to its 17.23% short interest (according to shortsqueeze.com. 

Best of luck to those playing tomorrow's call.